Form 4: TRICO BANCSHARES Executive Reports Routine Stock Vesting and Tax Withholding

TRICO BANCSHARES EVP Chief Operating Officer, John Fleshood, reported the scheduled vesting of Restricted Stock Units and the subsequent withholding of shares for tax obligations.

Summary

• John Fleshood, EVP Chief Operating Officer of TRICO BANCSHARES (TCBK), reported changes in his beneficial ownership of company stock.
• On June 12, 2025, 1,916 shares of Common Stock were acquired through the vesting of a Restricted Stock Unit (RSU) award.
• This RSU award was granted on June 12, 2023, and the reported transaction represents a 33% vesting of that award, including accumulated dividends.
• The price per share on the vesting date was $40.72.
• Concurrently, 1,121 shares of Common Stock were disposed of to cover tax liabilities associated with the RSU vesting.
• Following these transactions, John Fleshood directly beneficially owns 40,639.45 shares of Common Stock.
• Additionally, he indirectly beneficially owns 2,565.19 shares of Common Stock through an ESOP.
• He also beneficially owns 9,157 Restricted Stock Units (derivative securities) after the reported transaction.

Sentiment

Score: 5

Explanation: The document reports a routine, pre-scheduled executive compensation event (RSU vesting and tax withholding). It does not contain information that would significantly alter the perception of the company's financial health or strategic direction, thus indicating a neutral sentiment.

Positives

• The vesting of Restricted Stock Units indicates the fulfillment of a pre-determined executive compensation plan, aligning executive interests with shareholder value over time.
• The acquisition of 1,916 shares of Common Stock through RSU vesting increases the executive's direct stake in the company, demonstrating continued commitment.

Negatives

• 1,121 shares of Common Stock were disposed of to satisfy tax obligations, resulting in a reduction of direct beneficial ownership by that amount.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

The vesting of Restricted Stock Units and subsequent share withholding for tax purposes is a standard and routine component of executive compensation packages across various industries, including the financial sector. It reflects the pre-scheduled realization of equity-based incentives.

Stakeholder Impact

• Shareholders: The vesting and subsequent sale of shares for tax purposes represent a minor, expected change in the executive's ownership stake. This is a routine compensation event and does not typically have a significant direct impact on other shareholders.

Key Dates

Keywords

TRICO BANCSHARES, TCBK, Form 4, Insider Transaction, Restricted Stock Unit, RSU Vesting, Executive Compensation, Beneficial Ownership, John Fleshood, Stock Withholding