Form 4: Texas Capital Bancshares Executive Timothy J. Storms Reports Stock Transactions
SEC Form 4 Filing
Chief Risk Officer Timothy J. Storms reports transactions involving Texas Capital Bancshares stock, including the vesting of restricted stock units.
Summary
- On June 13, 2024, Timothy J. Storms, Chief Risk Officer of Texas Capital Bancshares, reported transactions involving the company's common stock and restricted stock units (RSUs).
- These transactions included the vesting of 31, 65, and 109 RSUs, which converted into common stock.
- Storms also disposed of 205 shares of common stock at a price of $55.92.
- Following these transactions, Storms directly owns 16,366 shares of Texas Capital Bancshares common stock and holds derivative securities including 1,261, 2,673 and 4,509 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions by an officer, neither particularly positive nor negative.
Industry Context
Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their trading activities and beneficial ownership of company stock. This allows investors to monitor management's alignment with shareholder interests.
Stakeholder Impact
- Shareholders can monitor insider transactions to assess management's confidence in the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 02/08/2023 | First vesting date for 31 RSUs in equal annual installments. |
| 02/09/2024 | First vesting date for 65 RSUs in equal annual installments. |
| 06/13/2024 | Date of reported transactions: vesting of RSUs and disposal of common stock. |
| 06/14/2024 | Date of signature by attorney-in-fact. |
| 02/16/2025 | First vesting date for 109 RSUs in equal annual installments. |
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