Form 4: TRICO BANCSHARES Executive Discloses Vesting of Restricted Stock Units and Tax-Related Share Sale

TRICO BANCSHARES EVP Chief Banking Officer, Daniel K. Bailey, reported the vesting of 784 restricted stock units and a subsequent sale of 459 shares to cover tax obligations.

Summary

• Daniel K. Bailey, EVP Chief Banking Officer of TRICO BANCSHARES (TCBK), reported transactions related to his beneficial ownership.
• On May 27, 2025, 784 Restricted Stock Units (RSUs) vested, representing 25% of an award granted on May 27, 2021, including accumulated dividends.
• Concurrently, 459 shares of Common Stock were disposed of at a price of $40.27 per share to satisfy tax liabilities associated with the RSU vesting.
• Following these transactions, Mr. Bailey directly owns 55,243.41 shares of Common Stock and indirectly owns 11,831.95 shares through an ESOP.
• He also holds 10,852 unvested Restricted Stock Units.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. It's a routine disclosure of executive compensation vesting, which is a positive for the executive and indicates retention. The sale for tax purposes is standard and not indicative of negative sentiment towards the company.

Positives

• The vesting of Restricted Stock Units indicates a portion of the executive's long-term incentive compensation has materialized.
• The executive continues to hold a significant number of shares, demonstrating ongoing 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 executive's direct ownership.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an executive's equity transactions and does not provide broader industry context. It reflects standard executive compensation practices within the banking sector, where equity awards like RSUs are common.

Comparison to Industry Standards

• This document is a specific executive transaction disclosure, not a performance report that would be compared to industry benchmarks or competitors like JPMorgan Chase, Bank of America, or Wells Fargo. The transaction itself, involving RSU vesting and tax-related sales, is a standard practice across industries for executive compensation.

Stakeholder Impact

• Shareholders: The transaction is a routine disclosure of executive compensation and does not directly impact the company's operational performance or financial health. The executive's continued significant direct and indirect ownership aligns interests with shareholders.
• Employees: The RSU vesting is part of the company's executive compensation program, which can serve as a model for broader employee incentive plans.

Next Steps

• Future vesting events for the remaining 10,852 Restricted Stock Units held by Daniel K. Bailey, as per the original award schedule.

Key Dates

Recommendation

Keywords

TRICO BANCSHARES, TCBK, Form 4, SEC filing, insider transaction, beneficial ownership, restricted stock units, RSU vesting, executive compensation, Daniel K Bailey, stock sale, tax liability