Form 4: TRICO BANCSHARES Director Anthony Leggio Reports RSU Vesting and New Grant

TRICO BANCSHARES Director Anthony L. Leggio reported the vesting of 2,154 Restricted Stock Units into common stock and the grant of 2,111 new Restricted Stock Units.

Summary

• Director Anthony L. Leggio reported changes in his beneficial ownership of TRICO BANCSHARES (TCBK) common stock and derivative securities.
• On May 23, 2025, 2,154 Restricted Stock Units (RSUs) granted on May 23, 2024, vested and converted into common stock on a one-for-one basis. The price per share on the vesting date was $39.33.
• On May 22, 2025, Mr. Leggio was granted 2,111 new Restricted Stock Units (RSUs). These new RSUs are scheduled to vest 100% on May 22, 2026.
• The per unit value of the newly granted RSUs on the grant date was $39.08, based on the 30-day average closing price of the Issuer's common stock ending May 22, 2025.
• Cash dividends on RSUs are reinvested in shares of the Issuer's common stock at fair market value on the dividend payment date.
• Following these transactions, Mr. Leggio directly owns 115,838.95 shares of common stock and 2,111 Restricted Stock Units.
• He also indirectly owns 75,000.5 shares of common stock through Bolthouse Properties and 27,780 shares through trusts for family members.

Sentiment

Score: 6

Explanation: The document reports routine insider transactions involving RSU vesting and a new RSU grant, which are generally positive as they indicate continued insider ownership and compensation alignment, but do not provide new fundamental insights into the company's performance or strategy.

Positives

• The vesting of 2,154 Restricted Stock Units (RSUs) into common stock represents a realization of value for Director Anthony L. Leggio.
• The grant of 2,111 new Restricted Stock Units aligns the director's interests with long-term shareholder value.
• Continued insider ownership, both direct and indirect, demonstrates confidence in the company.

Risks

• The value of the newly granted Restricted Stock Units (RSUs) and the existing common stock holdings are subject to market fluctuations and the future performance of TRICO BANCSHARES' stock.

Future Outlook

The newly granted 2,111 Restricted Stock Units are scheduled to vest 100% on May 22, 2026, indicating future share issuance upon vesting.

Management Comments

• The filing was signed by Anthony Leggio by Janine Howard, Attorney-in-Fact.

Industry Context

This Form 4 filing details routine insider stock transactions for a director of TRICO BANCSHARES, a financial institution. Such filings are standard disclosures for publicly traded companies, providing transparency on executive and director equity holdings and compensation.

Related Party Transactions

• Indirect beneficial ownership of 75,000.5 shares of common stock through Bolthouse Properties.
• Indirect beneficial ownership of 27,780 shares of common stock through trusts for family members.

Stakeholder Impact

• Shareholders benefit from the transparency provided by this filing regarding director stock ownership and compensation.
• The grant of new RSUs aligns the director's financial interests with the long-term performance of the company, potentially benefiting shareholders.

Next Steps

• The 2,111 Restricted Stock Units granted on May 22, 2025, are expected to vest on May 22, 2026.

Key Dates

Keywords

TRICO BANCSHARES, TCBK, Form 4, Insider Transaction, Restricted Stock Units, RSU, Director, Stock Ownership, Beneficial Ownership, SEC Filing