Form 4: United Community Banks CEO Lynn Harton Sells Shares to Cover Tax Obligations

United Community Banks CEO Lynn Harton sold 560 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• Lynn Harton, the President and CEO of United Community Banks, Inc., sold 560 shares of the company's common stock on November 15, 2024.
• The sale was executed at a price of $32.79 per share.
• This transaction was to cover tax withholding obligations related to the vesting of restricted stock units.
• Following the transaction, Harton directly owns 165,722 shares and indirectly owns 143,512 shares through the Herbert Lynn Harton Revocable Trust.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the financial industry.
• Many executives at comparable banks such as Truist Financial and Regions Financial also regularly sell shares for similar reasons.
• These transactions are typically disclosed via SEC Form 4 filings, which is standard practice.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

United Community Banks, UCB, Lynn Harton, stock sale, insider trading, Form 4, tax obligations, restricted stock units