Form 4: Third Coast Bancshares Executive Exercises Stock Options, Sells Shares to Cover Costs

Third Coast Bancshares' Chairman, President, and CEO, Bart Caraway, exercised stock options and sold shares to cover the exercise costs.

Summary

• Bart Caraway, Chairman, President, and CEO of Third Coast Bancshares, exercised a total of 93,700 stock options at a price of $11 per share on November 8, 2024.
• To cover the cost of exercising these options, 29,374 shares were withheld by the company at a price of $35.09 per share.
• Following these transactions, Mr. Caraway directly owns 134,047 shares of common stock.
• He also indirectly owns 2,746 shares through an IRA and 4,096 shares through an ESOP.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and does not indicate any positive or negative sentiment. It is a routine transaction.

Management Comments

• The transactions were executed by R. John McWhorter, attorney-in-fact for Bart Caraway.

Industry Context

This is a routine filing related to executive compensation and stock option exercises, common in publicly traded companies.

Comparison to Industry Standards

• Stock option exercises and subsequent share sales to cover costs are standard practice for executives in publicly listed companies.
• The pricing of the options and the share sale are consistent with market practices.
• Similar transactions are regularly reported by executives at comparable financial institutions.

Stakeholder Impact

• The transaction has a minor impact on the total number of shares outstanding.
• The transaction is part of the executive compensation package and is not expected to have a significant impact on stakeholders.

Key Dates

Keywords

stock options, insider trading, executive compensation, share ownership, Third Coast Bancshares, TCBX