Form 4: Trico Bancshares Director Vogel Converts Restricted Stock Units into Common Stock

Director Kimberley H Vogel converted restricted stock units (RSUs) into common stock of Trico Bancshares on May 20, 2024.

Summary

• On May 20, 2024, Kimberley H Vogel, a director of Trico Bancshares, converted 2,193 restricted stock units (RSUs) into common stock.
• This transaction was executed under transaction code 'M', indicating the exercise or conversion of a derivative security.
• Following the transaction, Vogel directly owns 7,310.85 shares of Trico Bancshares common stock.
• The RSUs were granted on May 18, 2023, and vested on May 20, 2024, with each RSU converting into one share of common stock.
• The price per share on the vesting date was $38.51.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard transaction (RSU conversion) without indicating any positive or negative implications for the company's performance or outlook.

Positives

• The conversion of RSUs into common stock reflects Vogel's continued investment in Trico Bancshares.
• The vesting of RSUs suggests that performance metrics or time-based conditions have been met.

Industry Context

This Form 4 filing is a routine disclosure related to insider transactions, providing transparency to investors regarding the actions of company directors.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders, ensuring compliance with SEC regulations.
• Similar filings are common among directors and officers of comparable financial institutions, such as community banks and regional banking corporations.

Stakeholder Impact

• The transaction has a minor impact on shareholders by slightly increasing the number of outstanding shares.

Key Dates