Form 4: TRICO BANCSHARES CFO Peter Wiese Reports Vesting of Restricted Stock Units

TRICO BANCSHARES' EVP Chief Financial Officer, Peter G. Wiese, reported the vesting of 1,158 restricted stock units and the subsequent sale of 208 shares to cover tax liabilities on May 27, 2025.

Summary

• Peter G. Wiese, the Executive Vice President and Chief Financial Officer of TRICO BANCSHARES (TCBK), reported transactions on May 27, 2025.
• The transactions involved the vesting of 1,158 Restricted Stock Units (RSUs) from an award granted on May 27, 2021, which represented 25% of the original award and included accumulated dividends.
• Following the vesting, 1,158 shares of Common Stock were acquired.
• Concurrently, 208 shares of Common Stock were disposed of (withheld) to satisfy tax liabilities, with the shares valued at $40.27 each on the vesting date.
• After these transactions, Peter G. Wiese directly beneficially owns 42,000 shares of Common Stock.
• Indirect beneficial ownership includes 1,761.43 shares held by an Employee Stock Ownership Plan (ESOP) and 2,700 shares held by a family trust.
• The reporting person also holds 14,202 derivative Restricted Stock Units following the reported transactions.

Sentiment

Score: 7

Explanation: The filing reports a routine vesting of equity compensation for a key executive, which is a positive event for the individual and a standard part of corporate compensation practices, indicating stability rather than a significant market-moving event.

Positives

• The vesting of 1,158 Restricted Stock Units (RSUs) for EVP Chief Financial Officer Peter G. Wiese indicates a successful conversion of equity compensation into common stock, aligning executive interests with shareholders.
• The RSU vesting included accumulated dividends, enhancing the overall value received by the executive.

Negatives

• 208 shares of Common Stock were disposed of to cover tax liabilities, which reduces the net shares acquired by the executive from the vesting event.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an insider's equity compensation vesting and related tax withholding, which is specific to the individual executive and does not provide broader insights into industry trends or competitive landscape.

Related Party Transactions

• Indirect beneficial ownership includes 1,761.43 shares held by an Employee Stock Ownership Plan (ESOP) and 2,700 shares held by a family trust, which are considered related party holdings.

Stakeholder Impact

• Shareholders: The vesting of RSUs is a standard component of executive compensation, aligning the executive's interests with shareholders through equity ownership. The associated share issuance is a minor, expected dilution.
• Employees: The mention of shares held by an ESOP indicates the company's use of employee stock ownership plans as part of its compensation and benefits structure.

Key Dates

Keywords

TRICO BANCSHARES, TCBK, Peter Wiese, Form 4, Insider Transaction, Restricted Stock Units, RSU, Equity Compensation, CFO, Stock Vesting