Form 4: Trico Bancshares Director Martin Mariani Receives Stock Grant

Director Martin Mariani received a grant of 2,087 restricted stock units (RSUs) from Trico Bancshares on May 23, 2024, which will vest in one year.

Summary

• Martin Mariani, a director of Trico Bancshares, received a grant of 2,087 Restricted Stock Units (RSUs) on May 23, 2024.
• 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 date of grant 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 stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

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

Future Outlook

The RSUs will vest in one year, aligning the director's interests with the company's performance.

Industry Context

Stock grants are a common form of executive compensation in the banking industry, used to incentivize performance and retain key personnel.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in the financial services industry.
• Companies like Bank of America, JP Morgan Chase, and Wells Fargo also utilize stock grants as part of their compensation strategy for directors and executives.
• The vesting schedule of one year is fairly standard for RSU grants.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.
• Employees may view the stock grant as a positive sign of the company's commitment to its leadership.

Key Dates