Form 4: TRICO BANCSHARES Director Martin Mariani Reports RSU Conversion and New Equity Grant

TRICO BANCSHARES Director Martin Mariani has reported the conversion of previously granted Restricted Stock Units (RSUs) into common stock and the receipt of a new RSU award, aligning his interests with shareholders.

Summary

• Martin Mariani, a Director of TRICO BANCSHARES (TCBK), filed a Form 4 detailing changes in his beneficial ownership.
• On May 23, 2025, 2,154 Restricted Stock Units (RSUs) granted on May 23, 2024, vested and converted into an equal number of common shares.
• The price per share on the vesting date (May 23, 2025) was $39.33.
• Following this conversion, Martin Mariani directly beneficially owns 66,375 shares of common stock.
• Additionally, on May 22, 2025, Mr. Mariani received a new grant of 2,111 Restricted Stock Units.
• These newly granted RSUs are scheduled to 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 TCBK common stock ending May 22, 2025.
• Cash dividends on these RSUs will be reinvested into additional shares of the Issuer's common stock at fair market value on the dividend payment date.

Sentiment

Score: 6

Explanation: Slightly positive. The filing indicates routine equity compensation and vesting, which aligns management interests with shareholders. No negative implications are present.

Positives

• The conversion of RSUs into common stock increases the director's direct ownership, further aligning his interests with those of common shareholders.
• The grant of new Restricted Stock Units demonstrates continued equity-based compensation for the director, reinforcing long-term commitment and performance incentives.

Future Outlook

The newly granted 2,111 Restricted Stock Units are scheduled to vest 100% on May 22, 2026, indicating future share issuance to the director upon meeting vesting conditions.

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions within the financial services industry. Such filings provide transparency into how company executives and directors manage their equity holdings, often reflecting standard compensation practices involving equity awards like Restricted Stock Units.

Stakeholder Impact

• Shareholders: The director's increased direct ownership and new equity grant align his financial interests with those of shareholders, potentially encouraging decisions that enhance long-term shareholder value.

Next Steps

• The 2,111 new Restricted Stock Units granted on May 22, 2025, are expected to vest on May 22, 2026, converting into common stock.

Key Dates

Keywords

TRICO BANCSHARES, TCBK, Form 4, Insider Transaction, Restricted Stock Units, RSU, Director, Stock Ownership, Equity Compensation