Form 4: Texas Capital Bancshares Chief Risk Officer Reports Stock Transactions
SEC Form 4 Filing
Timothy J. Storms, Chief Risk Officer of Texas Capital Bancshares, reports the vesting and subsequent sale of restricted stock units and performance stock units on February 26, 2024.
Summary
- On February 26, 2024, Timothy J. Storms, the Chief Risk Officer of Texas Capital Bancshares, engaged in transactions involving the company's stock.
- These transactions included the vesting of 3,544 restricted stock units and 3,043 performance stock units.
- Following the vesting, shares were sold to cover tax obligations at a price of $58.06 per share, resulting in the disposal of 863 and 744 shares respectively.
- After these transactions, Storms directly owns 16,366 shares of Texas Capital Bancshares.
- The performance-based RSUs were granted on June 16, 2021, and vested on February 26, 2024, based on applicable performance goals.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by an executive, which is neutral in sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is a common occurrence in publicly traded companies.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine stock sales by an executive.
Key Dates
| Date | Description |
|---|---|
| June 16, 2021 | Date the performance-based RSUs were granted. |
| February 26, 2024 | Date of the reported transactions, including vesting of stock units and sale of shares. |
| February 28, 2024 | Date of signature on the Form 4 filing. |
| March 15, 2024 | Expiration date of the 2021 Performance Stock Units. |
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