Form 4: Trico Bancshares Executive Craig Carney Reports Routine Stock Vesting and Tax-Related Share Disposition

Trico Bancshares EVP Chief Credit Officer Craig Carney reported the vesting of restricted stock units and a subsequent sale of shares to cover tax obligations, increasing his direct beneficial ownership.

Summary

• Craig B. Carney, EVP Chief Credit Officer of Trico Bancshares (TCBK), reported transactions on May 27, 2025.
• He acquired 784 shares of Common Stock through the vesting of a Restricted Stock Unit (RSU) award.
• This RSU award, granted on May 27, 2021, represented a 25% vesting, including accumulated dividends.
• Concurrently, 459 shares of Common Stock were disposed of at a price of $40.27 per share to satisfy tax liabilities related to the RSU vesting.
• Following these transactions, Mr. Carney directly beneficially owns 34,954 shares of Common Stock.
• He also indirectly owns 20,898.03 shares via an ESOP and 161.19 shares via his daughter.
• After the vesting, Mr. Carney retains 10,345 Restricted Stock Units directly.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The transaction is a routine executive compensation event (vesting of RSUs) with a standard tax withholding. It shows continued executive ownership and alignment with shareholders, but doesn't indicate significant new strategic developments or financial performance.

Positives

• Vesting of Restricted Stock Units indicates the fulfillment of long-term incentive compensation for the executive.
• The executive's direct beneficial ownership of common stock increased by 325 shares (784 acquired 459 disposed for tax), demonstrating continued alignment with shareholder interests.

Negatives

• A portion of the vested shares (459 shares) was sold to cover tax liabilities, which is a common practice but reduces the net shares retained by the executive from the vesting event.

Related Party Transactions

• Indirect ownership of 161.19 common shares by the reporting person's daughter is disclosed.

Stakeholder Impact

• Shareholders: The transaction reflects a routine executive compensation event, showing continued alignment of executive interests with shareholder value through stock ownership.
• Employees: The mention of ESOP ownership indicates a broader employee stock ownership program, which can align employee interests with company performance.

Key Dates

Keywords

Trico Bancshares, TCBK, Craig Carney, SEC Form 4, Restricted Stock Unit, RSU vesting, executive compensation, insider transaction, stock ownership, tax withholding