Tax-withholding share disposition by FIRST BUSEY (BUSE) Chief Credit Officer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
FIRST BUSEY CORP executive Chip S. Jorstad, Chief Credit Officer, reported a tax-related share disposition. On March 1, common shares were withheld at $25.36 per share to cover taxes due upon settlement of vested restricted stock units. The transaction involved 6,886 shares and was recorded as a tax-withholding disposition, not an open-market sale. After this event, Jorstad’s directly held common stock totaled 59,099.356 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Jorstad Chip S.
Role
Chief Credit Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 6,886 | $25.36 | $175K |
Holdings After Transaction:
Common Stock — 59,099.356 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did FIRST BUSEY CORP (BUSE) report for Chip S. Jorstad?
FIRST BUSEY CORP reported that Chief Credit Officer Chip S. Jorstad had 6,886 common shares withheld. The shares were used to satisfy tax obligations upon settlement of vested restricted stock units, rather than representing an open-market purchase or sale.
Was the FIRST BUSEY CORP (BUSE) Form 4 transaction an open-market sale by Jorstad?
No, the transaction was not an open-market sale. The Form 4 classifies it as a tax-withholding disposition, where shares were withheld upon settlement of vested restricted stock units to satisfy associated tax obligations, as explained in the filing’s footnote.
What role does Chip S. Jorstad hold at FIRST BUSEY CORP (BUSE) in this Form 4?
In this Form 4, Chip S. Jorstad is identified as Chief Credit Officer of FIRST BUSEY CORP. The reported transaction involves his directly held common stock, related to the tax treatment of vested restricted stock units settling into shares.