Form 4: Trico Bancshares Executive Reports Stock Transactions

Trico Bancshares executive Daniel K. Bailey reported transactions involving common stock and performance stock units, including vesting and tax withholdings.

Summary

• Daniel K. Bailey, EVP Chief Banking Officer at Trico Bancshares (TCBK), reported a Form 4 filing detailing stock transactions.
• On June 25, 2026, 4,782 shares of common stock were acquired, increasing his direct beneficial ownership to 64,074.41 shares.
• Additionally, 2,804 shares were disposed of for $53.55 per share, resulting in a direct beneficial ownership of 61,270.41 shares.
• Bailey also acquired 4,373 performance stock units (PSUs) which vested at 109.36% of the target number.
• These PSUs were based on Trico Bancshares' total stockholder return relative to the KBW Regional Banking Index.
• 11,831.95 shares are held indirectly through an Employee Stock Ownership Plan (ESOP).

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, reflecting expected executive compensation outcomes tied to company performance relative to an industry benchmark, with some stock disposition noted.

Positives

• Vesting of performance-based stock units indicates achievement of performance targets.
• The vesting of PSUs at 109.36% suggests the company's performance exceeded expectations relative to the KBW Regional Banking Index.
• Acquisition of 4,782 shares of common stock by an executive can be seen as a positive signal of confidence in the company.

Negatives

• 2,804 shares were disposed of, which could indicate a reduction in direct holdings by the executive.
• Shares were withheld to cover tax liabilities, a common but notable transaction.

Risks

• The performance of PSUs is tied to the company's total stockholder return relative to the KBW Regional Banking Index, implying market and industry-specific risks.
• Potential for future stock sales by executives could impact share price if not balanced by other positive factors.

Future Outlook

The vesting of performance stock units at 109.36% suggests that the company's performance, as measured by total stockholder return relative to the KBW Regional Banking Index, met or exceeded targets for the performance period.

Management Comments

• Vesting of performance-based stock unit (PSU). Each PSU represented the right to receive 0%-150% of the target number based on the Issuers total stockholder return, relative to the KBW Regional Banking Index (based on an initial grant of PSUs which was reported in the original Form 4 for this grant on 6/12/2023).
• PSUs vested at 109.36% on certification date June 25,2026.
• Reflects shares withheld to pay toward tax liability.

Industry Context

StockSavvy.ai notes that the performance of Trico Bancshares' PSUs relative to the KBW Regional Banking Index highlights the competitive landscape within the regional banking sector and the importance of relative performance metrics for executive compensation.

Stakeholder Impact

• Shareholders may view the executive's acquisition of stock positively, signaling confidence, while the disposition of shares might be monitored.
• Employees may be indirectly impacted by the performance metrics tied to executive compensation, reflecting overall company performance.

Key Dates

Keywords

Trico Bancshares, TCBK, Form 4, SEC Filing, Stock Transaction, Executive Compensation, Performance Stock Units, Common Stock, Beneficial Ownership, EVP Chief Banking Officer, Daniel K. Bailey