Amerant Bancorp (AMTB) officer reports RSU vesting and tax withholding shares
Rhea-AI Filing Summary
Amerant Bancorp Inc. officer Michael E. Nursey reported routine equity compensation activity involving restricted stock units tied to Class A common stock. He exercised 1,343 RSUs, each equal to one share, converting them into Class A common shares. In connection with this vesting, 328 shares were surrendered at a price of $23.23 per share to cover tax withholding obligations, rather than being sold in the open market.
Following these transactions, Nursey holds 3,114 shares of Class A common stock directly. The RSU award was part of a sign-on grant made on June 17, 2024, under which 6,716 RSUs vest 20% on each of the first two anniversaries of the grant date and 60% on the third anniversary, contingent on his continued service with the company.
Positive
- None.
Negative
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Insider Trade Summary
Net Buyer: 1,015 shares
Net Buy
3 txns
Insider
Nursey Michael E.
Role
See remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units sign-on | 1,343 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 1,343 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 328 | $23.23 | $8K |
Holdings After Transaction:
Restricted Stock Units sign-on — 4,030 shares (Direct);
Class A Common Stock — 3,114 shares (Direct)
Footnotes (3)
- F1. Each restricted stock unit ("RSU") is the economic equivalent of one share of Class A Common Stock.
- F2. Reflects the shares of Class A Common Stock that were surrendered in order to satisfy the reporting person's tax withholding obligation upon the vesting of RSUs.
- F3. On June 17, 2024, Mr. Nursey was awarded 6,716 RSUs, each representing the right to receive, following vesting, one share of Class A Common Stock. Twenty percent (20%) of the restricted stock units vests on each of the first two anniversaries of the date of grant and the remaining sixty percent (60%) will vest on the third anniversary of the date of grant, provided that Mr. Nursey remains in the continuous service of the Company or a subsidiary through each such date.
Key Figures
Shares surrendered for taxes: 328 shares at $23.23
RSUs vested into shares: 1,343 shares
Shares held after transactions: 3,114 shares
+2 more
5 metrics
Shares surrendered for taxes
328 shares at $23.23
Tax withholding upon RSU vesting on June 17, 2026
RSUs vested into shares
1,343 shares
Exercise of RSUs economically equivalent to Class A common stock
Shares held after transactions
3,114 shares
Direct Class A common stock holdings following reported Form 4 activity
Sign-on RSU grant
6,716 RSUs
Awarded June 17, 2024, subject to multi-year vesting schedule
RSU vesting schedule
20%, 20%, 60%
First two anniversaries then third anniversary of June 17, 2024 grant
Key Terms
Restricted Stock Units, tax withholding obligation, economic equivalent, continuous service
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") is the economic equivalent of one share of Class A Common Stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligation financial
"Reflects the shares of Class A Common Stock that were surrendered in order to satisfy the reporting person's tax withholding obligation upon the vesting of RSUs."
economic equivalent financial
"Each restricted stock unit ("RSU") is the economic equivalent of one share of Class A Common Stock."
continuous service financial
"will vest on the third anniversary ... provided that Mr. Nursey remains in the continuous service of the Company or a subsidiary"
FAQ
What insider transactions did Amerant Bancorp (AMTB) report for Michael E. Nursey?
Amerant Bancorp reported that officer Michael E. Nursey vested 1,343 restricted stock units into Class A common shares and surrendered 328 shares at $23.23 each to satisfy tax withholding obligations, a non-market disposition linked to his equity compensation.
What was the size of the RSU vesting reported for AMTB’s Michael E. Nursey?
Nursey exercised 1,343 restricted stock units into Class A common shares. Each RSU is economically equivalent to one share, so this vesting increased his stock position before accounting for 328 shares surrendered for tax withholding obligations.
What are the vesting terms of Michael E. Nursey’s 6,716 RSU sign-on award at AMTB?
The 6,716 RSU sign-on award vests 20% on each of the first two anniversaries of the June 17, 2024 grant date, and the remaining 60% vests on the third anniversary, provided he remains in continuous service with Amerant Bancorp or a subsidiary.
Why did AMTB report a tax-withholding disposition for Michael E. Nursey?
A tax-withholding disposition was recorded because 328 shares of Class A common stock were surrendered to satisfy Nursey’s tax obligations upon RSU vesting. This approach uses shares instead of cash for taxes and is categorized as a disposition in the Form 4.
AI-generated analysis. How Rhea-AI works. Not financial advice.
