Form 4: West Bancorporation Executive Vice President Brad L. Winterbottom Reports Acquisition of 15,000 Shares

Executive Vice President of West Bancorporation, Brad L. Winterbottom, reports the acquisition of 15,000 shares of common stock through a restricted stock unit grant.

Summary

• Brad L. Winterbottom, an Executive Vice President at West Bancorporation, filed a Form 4 detailing changes in beneficial ownership.
• On February 17, 2025, Winterbottom acquired 15,000 shares of West Bancorporation common stock through a restricted stock unit grant.
• 7,500 of these units vest in five equal annual installments starting March 25, 2026.
• The remaining 7,500 units cliff vest on March 25, 2028, contingent on performance criteria set by the Compensation Committee.
• Winterbottom also indirectly owns 6,607 shares held by his spouse and 24,124 shares through a 401(k) plan.
• 1,952 shares were acquired pursuant to dividend reinvestment purchases in the employee savings plan 401(k) during the period from January 1, 2024 through December 31, 2024.
• Following the reported transaction, Winterbottom directly owns 147,775 shares of West Bancorporation common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares by an executive is generally a good sign, but the vesting is subject to performance criteria, adding a layer of uncertainty.

Positives

• The acquisition of shares by an executive could be seen as a positive sign, indicating confidence in the company's future performance.

Risks

• The vesting of the restricted stock units is contingent on performance criteria, which introduces uncertainty.

Future Outlook

The future outlook depends on West Bancorporation's performance and the achievement of the performance criteria tied to the vesting of the restricted stock units.

Industry Context

Executive stock ownership is common in the banking industry to align management's interests with those of shareholders. Grants of restricted stock units are a typical form of compensation.

Comparison to Industry Standards

• Executive compensation packages in the banking industry often include a mix of salary, bonus, and equity-based compensation.
• Companies like JPMorgan Chase, Bank of America, and Wells Fargo also utilize restricted stock units as part of their executive compensation plans.
• The vesting schedules and performance criteria associated with these units vary depending on the company's specific goals and objectives.

Stakeholder Impact

• Shareholders may view the executive's increased ownership as a positive signal.
• Employees may be motivated by the alignment of executive and shareholder interests.

Key Dates