[Form 4] Enterprise Financial Services Corporation Insider Trading Activity

Rhea-AI Filing Summary

Sandra Van Trease, a director of Enterprise Financial Services Corp (EFSC), reported additions to her deferred compensation account under the Non-Management Director Stock Plan. The Form 4 shows 53,448 shares of common stock held indirectly by trust and previously reported phantom stock rights for 3,416 shares that were disposed of.

On 08/22/2025 she acquired 2,445 phantom shares (each converting to one common share on distribution) at $0 under the Plan; those phantom shares will be distributed on the deferral date she selected. The filing is signed 08/26/2025.

Insights

Corporate Governance Expert

Routine director compensation deferral; no governance red flags in this filing.

The Form 4 documents non-management director deferred compensation activity rather than open-market trading. Holdings include 53,448 common shares held indirectly via trust, and the acquisition of 2,445 phantom shares under the Non-Management Director Stock Plan. Distribution dates are specified for deferred phantom shares, indicating plan compliance and standard director compensation mechanics. There is no evidence of securities sales, related-party transactions beyond plan participation, or unusual timing that would suggest governance concerns.

Securities/Insider Transactions Analyst

Insider report shows plan-based award and deferred distribution schedule; immaterial market impact.

The transaction code and explanations indicate these are plan-issued phantom shares converting to common stock on specified deferral dates (Jan 2, 2027 and Jan 3, 2028). The acquisition of 2,445 phantom shares at $0 is compensation-related and not a cash purchase. The report clarifies post-transaction beneficial ownership figures and the indirect ownership form, consistent with routine Form 4 disclosures.

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

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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^*

VAN TREASE SANDRA

(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								53,448	I	By Trust

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
Phantom Stock	(1)							(2)	(2)	Common Stock	3,416		3,416	D
Phantom Stock	(3)	08/22/2025		A		2,445		(4)	(4)	Common Stock	2,445	$0(5)	2,445	D

Explanation of Responses:

1. Each phantom share represents the right to receive one share of common stock upon distribution from the Non-Management Director Stock Plan deferred compensation account.

2. Shares of common stock will be distributed on January 2, 2027, the deferral date identified by the director in accordance with the terms of the Plan.

3. Each phantom share represents the right to receive one share of common stock upon distribution from the Non-Management Director Stock Plan deferred compensation account.

4. Shares of common stock will be distributed on January 3, 2028 the deferral date identified by the director in accordance with the terms of the Plan.

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

	/s/ Sandra Van Trease	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 insider activity did EFSC director Sandra Van Trease report on Form 4?

The filing reports 2,445 phantom shares acquired on 08/22/2025 under the Non-Management Director Stock Plan and shows 53,448 common shares beneficially owned indirectly by trust.

When will the phantom shares be distributed to Sandra Van Trease?

The Form 4 explains phantom shares will be distributed on deferral dates: some shares on January 2, 2027 and others on January 3, 2028 as identified under the Plan.

What does a phantom share represent in this Form 4 for EFSC (EFSC)?

Each phantom share represents the right to receive one share of common stock upon distribution from the Non-Management Director Stock Plan deferred compensation account.

Was any cash paid for the acquired phantom shares in the EFSC Form 4?

The filing shows the acquired phantom shares were recorded at $0, indicating they were issued under the Non-Management Director Stock Plan as compensation, not purchased for cash.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Sandra Van Trease on 08/26/2025, reporting the transaction dated 08/22/2025.