COO at CVB Financial (NASDAQ: CVBF) gets 12,562-share award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CVB Financial Corp EVP and Chief Operating Officer David C. Harvey reported compensation-related stock activity. He acquired 12,562 shares of common stock at $0 per share as a grant tied to performance stock units originally granted on January 25, 2023 after performance conditions were met. To cover taxes on the vested amount, 6,256 shares were withheld at a price of $19.005 per share, a non-market tax-withholding disposition rather than an open-market sale. Following these transactions, he directly holds 138,149 shares of CVB Financial common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Harvey David C
Role
EVP Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 12,562 | $0.00 | -- |
| Tax Withholding | Common Stock | 6,256 | $19.005 | $119K |
Holdings After Transaction:
Common Stock — 144,405 shares (Direct)
Footnotes (1)
- Satisfaction of vesting conditions for Performance Stock Units ("PRSU") granted on 1/25/2023 based on performance conditions being met. Withholding of shares of PRSU vested on 1/25/2026 to pay for taxes due on vested amount.
FAQ
What did CVB Financial (CVBF) EVP COO David Harvey report on this Form 4?
David C. Harvey reported a performance-based stock grant and related tax withholding. He received 12,562 CVB Financial common shares as a performance award, with 6,256 shares withheld to pay taxes on the vested amount rather than sold in the open market.
What are the performance stock units mentioned in the CVB Financial (CVBF) Form 4?
The filing references performance stock units granted on January 25, 2023, which vested once performance conditions were met. Upon vesting, they converted into 12,562 common shares, with part of the award withheld in shares to satisfy tax liabilities on the vested amount.