Form 4: Trico Bancshares Director Kirsten Garen Acquires Restricted Stock Units

Director Kirsten Garen received a grant of 2,087 Restricted Stock Units (RSUs) in Trico Bancshares, vesting in one year.

Summary

• On May 23, 2024, Kirsten E Garen, a director of Trico Bancshares, received a grant of 2,087 Restricted Stock Units (RSUs).
• The RSUs vest in one year, with 100% of the shares vesting on May 23, 2025.
• 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, indicating confidence in the company's future performance. The grant of RSUs is a positive sign, suggesting alignment between management and shareholder interests.

Positives

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

Future Outlook

The director's holdings will increase as the RSUs vest and dividends are reinvested.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the banking industry, aligning management's interests with those of shareholders.

Stakeholder Impact

• Shareholders may view the RSU grant positively, as it aligns the director's interests with the company's long-term success.

Key Dates