Form 4: Trico Bancshares Director Anthony L. Leggio Acquires Restricted Stock Units

Director Anthony L. Leggio of Trico Bancshares received a grant of 2,087 Restricted Stock Units (RSUs) on May 23, 2024, which will vest in one year.

Summary

• On May 23, 2024, Anthony L. Leggio, a director of Trico Bancshares, was granted 2,087 Restricted Stock Units (RSUs).
• The RSUs will vest on May 23, 2025, meaning Leggio will gain full ownership of the underlying shares on that date.
• Cash dividends on the RSUs will be reinvested in shares of Trico Bancshares' common stock at fair market value on the date of dividend payment.
• The per-unit value on the grant date was $35.93, based on the 30-day average closing price of Trico Bancshares' common stock ending May 23, 2024.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, suggesting a stable and well-governed company. The RSU grant aligns director interests with shareholders, which is generally viewed positively.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders, incentivizing them to work towards the company's success.
• Reinvestment of cash dividends into common stock further increases the director's stake in the company.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting date of the RSUs.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the banking industry, used to align management's interests with those of shareholders and incentivize long-term performance.

Comparison to Industry Standards

• RSU grants are a typical component of executive compensation packages in the financial services industry.
• Companies like Bank of America and JPMorgan Chase also utilize RSUs as part of their compensation strategy for directors and key employees.
• The vesting schedule of one year is relatively standard for RSU grants.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's long-term success.
• Employees may see the RSU grant as a sign of the company's commitment to its leadership.

Key Dates