Form 4: UMB Financial Corp Director Acquires Shares Through Merger with Heartland Financial USA, Inc.

Director John K Schmidt reports acquisition of UMB Financial Corp shares following the merger with Heartland Financial USA, Inc.

Summary

• John K Schmidt, a director of UMB Financial Corp, reported acquiring shares of UMB common stock on January 31, 2025.
• The acquisition resulted from the merger between UMB Financial Corporation and Heartland Financial USA, Inc. (HTLF), which was previously announced on April 28, 2024.
• Each share of HTLF common stock was converted into 0.5500 shares of UMB common stock, with cash payable for fractional shares.
• Restricted stock units held by the reporting person vested and were converted into the right to receive 0.5500 shares of UMB common stock for each underlying share of HTLF common stock, with cash payable for fractional shares.
• Schmidt directly acquired 32,468 shares of common stock.
• Schmidt indirectly acquired 21,818 shares of common stock through a spouse.
• Schmidt indirectly acquired 2,629 shares of common stock through a 401(k).

Sentiment

Score: 7

Explanation: The document reflects the completion of a previously announced merger, which is generally viewed positively. The director's share acquisition is a natural consequence of the merger agreement.

Positives

• The merger between UMB Financial Corporation and Heartland Financial USA, Inc. has been completed, resulting in the acquisition of shares by UMB directors.
• The conversion of HTLF shares to UMB shares at a ratio of 0.5500 provides clarity on the value received by HTLF shareholders.

Future Outlook

The document does not contain specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects ongoing consolidation within the financial services industry, where mergers and acquisitions are used to achieve economies of scale and expand market presence.

Stakeholder Impact

• Shareholders of HTLF received UMB shares as a result of the merger.
• The merger may lead to changes in the combined company's operations, potentially affecting employees, customers, and other stakeholders.

Key Dates

Keywords

UMB Financial Corp, Heartland Financial USA, Merger, Share Acquisition, Director, John K Schmidt, UMBF, HTLF, Common Stock, Restricted Stock Units