Form 4: TRICO BANCSHARES Director John Hasbrook Reports RSU Vesting and New Grant

TRICO BANCSHARES Director John S. A. Hasbrook has reported the vesting of 2,154 Restricted Stock Units into common stock and the grant of an additional 2,111 RSUs.

Summary

• John S. A. Hasbrook, a Director of TRICO BANCSHARES (TCBK), reported changes in his beneficial ownership of company 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.
• Following this transaction, Mr. Hasbrook beneficially owns 64,634.84 shares of common stock.
• Additionally, on May 22, 2025, Mr. Hasbrook was granted 2,111 new Restricted Stock Units.
• These newly granted RSUs will vest 100% on May 22, 2026.
• The per unit value of the new RSU grant on the date of grant was $39.08, based on the 30-day average closing price of TRICO BANCSHARES common stock ending May 22, 2025.
• Cash dividends on RSUs are reinvested into additional shares of the Issuer's common stock at fair market value on the dividend payment date.

Sentiment

Score: 7

Explanation: The document reports standard, positive insider equity transactions (vesting and new grant), which are generally viewed favorably as they align management's interests with shareholders and indicate continued commitment. There are no negative or concerning elements.

Positives

• The vesting of 2,154 RSUs into common stock indicates a successful completion of a performance or time-based vesting period, aligning the director's interests with shareholders.
• The grant of an additional 2,111 RSUs demonstrates continued commitment and incentive for the director, linking future compensation to company performance.

Future Outlook

The newly granted 2,111 Restricted Stock Units are scheduled to vest 100% on May 22, 2026, indicating a future equity award conversion.

Industry Context

This Form 4 filing is a routine disclosure of an insider's equity transactions, common in the financial services industry for publicly traded banks like TRICO BANCSHARES. It reflects standard executive compensation practices involving Restricted Stock Units, which are used to align management incentives with long-term shareholder value.

Stakeholder Impact

• Shareholders: The vesting and grant of RSUs align the director's financial interests with the company's performance, potentially fostering long-term value creation. The increase in common stock ownership by a director can be seen as a positive signal.
• Employees: While specific to a director, RSU programs are common compensation tools that can motivate executives and senior staff.

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, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Equity Compensation, Director Ownership, Common Stock, Corporate Governance