Form 4: Trico Bancshares Director Vogel Receives Restricted Stock Units

Director Kimberley H Vogel of Trico Bancshares reports the acquisition of 2,087 Restricted Stock Units (RSUs) vesting in one year.

Summary

• Kimberley H Vogel, a director of Trico Bancshares, filed a Form 4 on May 24, 2024, reporting a transaction.
• On May 23, 2024, Vogel was granted 2,087 Restricted Stock Units (RSUs).
• The RSUs 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 sentiment is neutral to slightly positive. The RSU grant aligns director interests with shareholders, which is generally viewed favorably. There are no immediate negative implications.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• The vesting period encourages long-term commitment from the director.

Future Outlook

The RSUs 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 shareholders.

Comparison to Industry Standards

• Many regional banks use RSUs as part of their compensation packages for directors and executives.
• The vesting schedule of one year is relatively standard for RSU grants.
• The valuation method based on the 30-day average closing price is a common practice for determining the fair market value of the underlying stock.

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 grant as a sign of confidence in the company's future.

Key Dates