Form 4: Trico Bancshares Executive Judi Giem Reports Stock Transactions

Judi Giem, Chief Human Resources Officer of Trico Bancshares, reports the vesting of performance-based stock units and related transactions.

Summary

• On April 9, 2024, Judi Giem, Chief Human Resources Officer of Trico Bancshares, reported transactions involving common stock and performance stock units (PSUs).
• 988 shares of common stock were acquired upon the vesting of PSUs.
• 577 shares were disposed of to cover tax liabilities at a price of $34.49 per share.
• The vesting of performance-based stock units (PSUs) occurred, with each PSU representing the right to receive 0%-150% of the target number based on the Issuer's total stockholder return relative to the KBW Regional Banking Index.
• PSUs vested at 105.08%.
• Following these transactions, Giem directly owns 1,991 shares of common stock and indirectly owns 414.25 shares through an ESOP.
• She also directly owns 3,233 performance stock units.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports routine transactions related to executive compensation. The vesting of PSUs suggests positive performance, but the tax-related disposal is a standard occurrence.

Positives

• The vesting of performance stock units indicates that the company met certain performance criteria related to stockholder return relative to the KBW Regional Banking Index.

Industry Context

This Form 4 filing is a routine disclosure related to insider transactions. It provides transparency into the trading activities of company executives, which is a standard practice in publicly traded companies.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.

Key Dates