First Busey (BUSE) Chief Credit Officer reports new stock awards on Form 4
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
First Busey Corp Chief Credit Officer Chip S. Jorstad reported compensation-related share acquisitions, not open‑market trades. He acquired 238 shares of common stock at a reported price of $0.0000 per share and 429.3906 shares at $20.3150 per share under award arrangements.
Following these grants, Jorstad directly holds 64,781.7466 shares of First Busey common stock. Footnotes explain that some shares were acquired under the Employee Stock Purchase Plan and others represent dividend equivalent rights tied to Restricted Stock Units, indicating these are part of ongoing equity compensation rather than discretionary market purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Jorstad Chip S.
Role
Chief Credit Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 238 | $0.00 | -- |
| Grant/Award | Common Stock | 429.391 | $20.315 | $9K |
Holdings After Transaction:
Common Stock — 64,781.747 shares (Direct, null)
Footnotes (1)
- Shares were acquired under the First Busey Corporation Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(c) and Rule 16b-3(d). Represents dividend equivalent rights accrued on Restricted Stock Units in connection with the payment of a cash dividend on First Busey Corporation Common Stock. Each dividend equivalent right is the economic equivalent of one share of First Busey Corporation Common Stock.
Key Figures
Awarded shares (no-cash grant): 238 shares
Awarded shares (priced grant): 429.3906 shares
Total holdings after latest transaction: 64,781.7466 shares
+2 more
5 metrics
Awarded shares (no-cash grant)
238 shares
Common Stock, price $0.0000 per share, code A
Awarded shares (priced grant)
429.3906 shares
Common Stock, price $20.3150 per share, code A
Total holdings after latest transaction
64,781.7466 shares
Direct ownership following May 1, 2026 award
Transaction count (acquisitions)
2 transactions
Both coded A as grant/award acquisitions
Rule 16b-3 exemptions referenced
Rule 16b-3(c), Rule 16b-3(d)
Footnote describing ESPP acquisition exemption
Key Terms
Employee Stock Purchase Plan, dividend equivalent rights, Restricted Stock Units, Rule 16b-3(c), +1 more
5 terms
Employee Stock Purchase Plan financial
"Shares were acquired under the First Busey Corporation Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
dividend equivalent rights financial
"Represents dividend equivalent rights accrued on Restricted Stock Units"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
Restricted Stock Units financial
"rights accrued on Restricted Stock Units in connection with the payment of a cash dividend"
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.
Rule 16b-3(c) regulatory
"transactions that were exempt under both Rule 16b-3(c) and Rule 16b-3(d)"
An SEC rule that lets corporate insiders avoid automatic "short‑swing" profit recovery when they buy or sell their company’s stock under a pre‑approved, written plan that meets specific conditions. For investors, it matters because it clarifies when insider trades are treated as routine, reducing legal uncertainty and helping distinguish trades made for ordinary compensation or pre‑planned reasons from those that might signal opportunistic or timely insider advantage.
Rule 16b-3(d) regulatory
"transactions that were exempt under both Rule 16b-3(c) and Rule 16b-3(d)"
FAQ
What insider transactions did First Busey (BUSE) disclose for Chip S. Jorstad?
First Busey disclosed that Chief Credit Officer Chip S. Jorstad acquired company common stock through equity awards, not open‑market trades. The Form 4 shows two award transactions classified as grants or other acquisitions, reflecting ongoing equity compensation rather than discretionary buying or selling activity.
Were Chip S. Jorstad’s First Busey (BUSE) transactions open‑market buys or compensation awards?
The transactions are compensation-related awards, not open‑market buys. Both are coded as grants or other acquisitions, with footnotes stating that shares were acquired under the Employee Stock Purchase Plan and through dividend equivalent rights on Restricted Stock Units, consistent with ongoing equity compensation programs.
What do the dividend equivalent rights mean in the First Busey (BUSE) Form 4?
Dividend equivalent rights represent additional units credited when First Busey pays cash dividends on its common stock. Each right is the economic equivalent of one share, accruing on outstanding Restricted Stock Units so award holders receive dividend-like value while their RSUs remain unvested or outstanding.