First Busey (BUSE) EVP Powers files Exit notice ending Section 16
Rhea-AI Filing Summary
An Exit Form 4 reports that John Joseph Powers, EVP & General Counsel of First Busey Corp, is no longer subject to Section 16 effective July 29, 2026. The report is described as voluntarily filed solely for this purpose and lists no stock or derivative transactions.
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Key Terms
Exit Form 4, Section 16
2 terms
Exit Form 4 regulatory
"This "Exit" Form 4 is voluntarily filed solely to report that"
Section 16 regulatory
"the reporting person is no longer subject to Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does this Form 4 for BUSE report about John Joseph Powers?
It reports that John Joseph Powers, EVP & General Counsel of First Busey Corp, is no longer subject to Section 16 effective July 29, 2026. The Form is characterized as an Exit filing voluntarily submitted solely to record this change.
Does the BUSE Form 4 show any insider stock transactions?
No. The Form 4 for First Busey Corp (BUSE) lists no purchases, sales, acquisitions, dispositions, or option exercises. All transaction counts are zero, and there are no reported derivative positions or holding entries associated with this Exit filing.
Why is this BUSE Form 4 described as an Exit filing?
It is called an Exit Form 4 because it is filed solely to state that, effective July 29, 2026, the reporting person is no longer subject to Section 16. The remarks clarify that this is a voluntary filing for that single purpose.
Who is the reporting person in this BUSE Exit Form 4 and what is his role?
The reporting person is John Joseph Powers, identified as an officer of First Busey Corp with the title EVP & General Counsel. He is not listed as a director or 10% owner in this Exit Form 4.
Is this BUSE Exit Form 4 tied to a Rule 10b5-1 trading plan?
No. The Rule 10b5-1 plan checkbox is not marked for this First Busey Corp (BUSE) Exit Form 4, and there are no transactions reported. The filing’s stated purpose is only to record the end of Section 16 status.