Form 4: Trico Bancshares Director Koehnen Receives Restricted Stock Unit Grant

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

Summary

• Michael W. Koehnen, a director of Trico Bancshares, received a grant of 2,087 Restricted Stock Units (RSUs) on May 23, 2024.
• The RSUs will vest 100% 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 sentiment is neutral to slightly positive. The RSU grant is a standard practice, aligning director interests with shareholders. The one-year vesting period is also typical.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• Reinvestment of dividends into company stock further reinforces this alignment.

Future Outlook

The RSUs will vest in one year, aligning the director's compensation with the company's performance over that period.

Industry Context

Granting RSUs to directors is a common practice in the banking industry to incentivize performance and align management's interests with shareholders.

Comparison to Industry Standards

• Many regional banks use RSUs as part of their executive compensation packages.
• The vesting schedule of one year is fairly standard for RSU grants.
• Comparing the grant's value to similar grants at peer banks like Westamerica Bancorporation or CVB Financial Corp would provide further context.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's performance.
• The grant has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates