First American (NYSE: FAF) officer reports tax-withholding share disposition on RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
First American Financial Corp VP & Chief Accounting Officer Steven A. Adams reported a tax-related share disposition. On this Form 4, 1,190 shares of common stock were withheld at $67.22 per share to satisfy tax liability upon vesting of restricted stock units, leaving him with 10,645.893 directly owned shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Adams Steven A
Role
VP & Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 1,190 | $67.22 | $80K |
Holdings After Transaction:
Common Stock — 10,645.893 shares (Direct)
Footnotes (1)
- Payment of tax liability by withholding securities incident to the vesting of restricted stock units. Includes 549 unvested Restricted Stock Units ("RSUs") acquired pursuant to an original grant of 1,889 RSUs and shares acquired through automatic dividend reinvestment, vesting in four equal annual increments commencing 2/22/2023, the first anniversary of the grant. Includes 1,758 unvested RSUs acquired pursuant to an original grant of 2,456 RSUs and shares acquired through automatic dividend reinvestment, vesting in three equal annual increments commencing 2/22/2025, the first anniversary of the grant. Includes 3,207 unvested RSUs acquired pursuant to an original grant of 3,103 RSUs and shares acquired thorugh automatic dividend reinvestment, vesting in three equal annual increments commencing 2/24/2026, the first anniversary of the grant.
FAQ
What insider transaction did First American Financial (FAF) report for Steven A. Adams?
Steven A. Adams reported a tax-withholding disposition of 1,190 shares of First American Financial common stock. The shares were withheld to cover taxes due on the vesting of restricted stock units, rather than sold in an open-market transaction.
Was the First American Financial (FAF) Form 4 transaction an open-market sale?
No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were withheld by the company at $67.22 per share to satisfy Adams’ tax liability when restricted stock units vested, which is a routine administrative transaction.
What do the restricted stock unit (RSU) footnotes in the FAF Form 4 indicate?
The footnotes explain that Adams holds several blocks of unvested RSUs from prior grants, which vest in equal annual installments starting on specific February dates. They also note additional shares accumulated through automatic dividend reinvestment tied to those RSU awards.