Form 4: Trico Bancshares Director Margaret L. Kane Acquires Restricted Stock Units

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

Summary

• On May 23, 2024, Margaret L. Kane, a director of Trico Bancshares, was granted 2,087 Restricted Stock Units (RSUs).
• The RSUs will 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 routine executive compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive signal.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing performance and long-term value creation.

Future Outlook

The RSUs vest in one year, aligning the director's interests with the company's performance until May 23, 2025.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the banking industry, used to incentivize performance and retain key personnel.

Comparison to Industry Standards

• RSU grants are a typical component of executive compensation packages in the banking sector, similar to practices at institutions like Umpqua Holdings Corporation and Westamerica Bancorporation.
• The vesting schedule of one year is relatively standard, aligning with common industry practices for incentivizing short-to-medium term performance.

Stakeholder Impact

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

Key Dates