EFSC insider filing: Sanborn receives 1,032 director shares; holds 40,950 in trust

Rhea-AI Filing Summary

Richard Sanborn, a director of Enterprise Financial Services Corp (EFSC), received 1,032 shares of Common Stock under the company's Non-Management Director Stock Plan on 08/22/2025 at a reported price of $0, reflecting shares issued as compensation. Following the issuance, Mr. Sanborn directly beneficially owns 1,032 shares and indirectly owns 40,950 shares held jointly in a family trust for which he is trustee. The Form 4 was signed by Mr. Sanborn on 08/26/2025. The filing records a routine director equity award and clarifies the split between direct holdings and indirect family-trust holdings.

Positive

• Director equity alignment: Mr. Sanborn received 1,032 shares under the Non-Management Director Stock Plan, increasing his direct ownership.
• Ownership transparency: Filing discloses both direct and indirect holdings (1,032 direct; 40,950 indirect via family trust), aiding investor clarity.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation issuance; increases insider alignment without indicating substantive change in control or strategy.

The Form 4 documents a grant of 1,032 shares to a director under the Non-Management Director Stock Plan, recorded at $0 which is consistent with awards issued as compensation rather than open-market purchases. The filing also discloses substantive indirect holdings (40,950 shares) held in a family trust where Mr. Sanborn is trustee, which is important for assessing his total economic exposure to EFSC. This is a routine disclosure for executive/director remuneration and does not, by itself, suggest material governance changes.

Securities Analyst

TL;DR: Minor insider issuance; immaterial to market capitalization but useful for ownership transparency.

The reported issuance of 1,032 shares is a small, non-cash grant typical for non-management directors. The combination of 1,032 direct and 40,950 indirect shares provides clarity on Mr. Sanborn's aggregate stake; however, the absolute size of the direct grant is unlikely to move investor valuation metrics. The filing is informational and consistent with routine equity-based director compensation practices.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SANBORN RICHARD

(Last) (First) (Middle)

150 N. MERAMEC

(Street)

ST. LOUIS MO 63105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ENTERPRISE FINANCIAL SERVICES CORP [ EFSC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/22/2025		A		1,032	A	$0(1)	1,032	D
Common Stock								40,950	I	Family Trust(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares issued under the Non-Management Director Stock Plan.

2. Shares held jointly in a family trust in which Mr. Sanborn is trustee.

	/s/ Richard Sanborn	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Richard Sanborn report for EFSC?

Mr. Sanborn reported issuance of 1,032 shares of EFSC Common Stock on 08/22/2025 under the Non-Management Director Stock Plan.

How many EFSC shares does Richard Sanborn beneficially own after the transaction?

He beneficially owns 1,032 shares directly and 40,950 shares indirectly through a family trust where he is trustee.

What was the reported price for the shares issued to Mr. Sanborn?

The Form 4 reports a price of $0, indicating the shares were issued as compensation under the director stock plan.

When was the Form 4 signed and filed by Richard Sanborn?

The Form 4 bears Mr. Sanborn's signature dated 08/26/2025.

Does the filing indicate any derivative transactions or exercises by Mr. Sanborn?

No. Table II of the filing contains no reported derivative transactions or exercises.