Form 4: UMB Financial Corp CEO Kemper J Mariner Executes Stock Sales Under 10b5-1 Plan
SEC Form 4
Kemper J Mariner, Chairman and CEO of UMB Financial Corp, reported the sale of common stock held indirectly through a trust, executed under a pre-arranged 10b5-1 trading plan.
Summary
- Kemper J Mariner, Chairman and CEO of UMB Financial Corp, filed a Form 4 detailing changes in beneficial ownership.
- On July 1, 2024, Mariner sold shares of UMBF common stock at prices ranging from $83.02 to $83.24.
- A total of 2,396 shares were sold through a series of transactions.
- The sales were conducted under a pre-arranged 10b5-1 trading plan established on December 13, 2023.
- Following the reported transactions, Mariner indirectly owns 1,690,354 shares through the RC Kemper Irrevocable Trust.
- Mariner also holds shares through other trusts, custodial accounts, an ESOP, Kemper Realty, and Pioneer Service Corporation, totaling a significant number of shares.
- Mariner also owns options to buy 27,964 shares of common stock at an exercise price of $75.25, which are fully vested.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged trading plan, without indicating any specific positive or negative outlook for the company.
Industry Context
The filing reflects routine transactions by a company insider under a pre-arranged trading plan, which is a common practice to avoid accusations of insider trading. It's important to monitor insider activity in conjunction with overall company performance and industry trends to assess potential implications.
Comparison to Industry Standards
- Comparing UMB Financial Corp's insider trading activity to peers like Commerce Bancshares (CBSH) or First National of Nebraska (FNNB) can provide context.
- Similar filings from executives at these companies are publicly available and can be used to benchmark the frequency and size of insider transactions.
- The use of 10b5-1 plans is a standard practice among executives at publicly traded companies to manage their stock holdings while complying with insider trading regulations.
Key Dates
| Date | Description |
|---|---|
| 12/13/2023 | Date the 10b5-1 trading plan was entered into by the reporting person. |
| 02/02/2019 | Initial vesting date of stock options. |
| 02/02/2020 | Second vesting date of stock options. |
| 02/02/2021 | Final vesting date of stock options. |
| 07/01/2024 | Date of the reported stock sales. |
| 02/02/2027 | Expiration date of stock options. |
| 07/02/2024 | Date of signature on the Form 4 filing. |
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