Form 4: Trico Bancshares Director Thomas McGraw Receives Restricted Stock Unit Grant

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

Summary

• Thomas McGraw, a director of Trico Bancshares, was granted 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 announcement is neutral to positive, reflecting standard executive compensation practices. The RSU grant aligns director interests with shareholders.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• Reinvestment of cash dividends into company stock further strengthens this alignment.

Future Outlook

The RSUs will vest in one year, aligning the director's interests 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 those of shareholders.

Comparison to Industry Standards

• RSU grants are a typical component of executive compensation packages in the banking sector.
• Companies like Bank of America and JPMorgan Chase also utilize RSUs as part of their executive compensation plans.
• The vesting schedule of one year is relatively standard for RSU grants.

Stakeholder Impact

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

Key Dates