Form 4: Westamerica Bancorporation Executive Brian J Donohoe Reports Stock Transaction
SEC Form 4 Filing
Brian J Donohoe, SVP/Chief Information Officer of Westamerica Bancorporation, reports the withholding of 998 common stock shares to cover tax liabilities related to vested restricted performance shares.
Summary
- On March 3, 2025, Brian J Donohoe, SVP/Chief Information Officer of Westamerica Bancorporation, filed a Form 4.
- The form reports a transaction where 998 shares of common stock were disposed of to cover tax liabilities.
- This was due to the vesting of 1,900 Restricted Performance Shares in January 2025.
- The price per share for the transaction was $51.82.
- Following the transaction, Donohoe directly owns 46.8411 shares of common stock.
- Donohoe also indirectly owns 1,853.623 shares through an ESOP and 2,784 shares through a trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and their potential impact on stock prices. This filing indicates a standard practice of covering tax obligations related to vested equity.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies like Westamerica Bancorporation.
- Companies such as Wells Fargo, Bank of America, and US Bancorp also see similar filings from their executives related to stock options and restricted stock units.
- The number of shares withheld for taxes is proportional to the executive's compensation package and the company's equity grant policies, aligning with industry norms.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on shareholders, as it is a routine part of executive compensation.
- Employees may be interested in the details of executive compensation, but the transaction itself is not expected to directly affect them.
Key Dates
| Date | Description |
|---|---|
| January 2025 | 1,900 Restricted Performance Shares vested. |
| 03/03/2025 | Date of stock transaction (withholding of shares for tax liability). |
| 03/05/2025 | Date of signature on the Form 4 filing. |
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