First Commonwealth EVP sells 10,500 shares
First Commonwealth Financial Corp EVP/Chief Banking Officer Michael P. McCuen reported open-market sales of company stock.
Rhea-AI Filing Summary
First Commonwealth Financial Corp EVP/Chief Banking Officer Michael P. McCuen reported open-market sales of company stock. On June 3 he sold 5,250 shares of common stock at $18.58 per share, followed by another 5,250 shares on June 4 at $19.115 per share, for total reported sales of 10,500 shares.
After these transactions, he directly holds 51,611 shares of common stock. He also has service-based restricted stock unit awards covering 6,500, 6,900 and 6,800 underlying common shares, each convertible on a 1-for-1 basis after a three-year vesting period, plus restricted stock of 8,000 shares vesting on September 11, 2026 and 30,000 shares vesting in equal installments on July 1, 2026 and July 1, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 10,500 shares
Net Sell
5 txns
Insider
McCuen Michael P
Role
EVP/Chief Banking Officer
Sold
10,500 shs ($198K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 5,250 | $19.115 | $100K |
| Sale | Common Stock | 5,250 | $18.58 | $98K |
| holding | Restricted Stock Units-Service Based | -- | -- | -- |
| holding | Restricted Stock Units-Service Based | -- | -- | -- |
| holding | Restricted Stock Units-Service Based | -- | -- | -- |
Holdings After Transaction:
Common Stock — 51,611 shares (Direct);
Restricted Stock Units-Service Based — 20,200 contracts (Direct)
Footnotes (4)
- F1. Securities Beneficially Owned includes 8,000 shares of restricted stock which vest in a single installment on September 11, 2026 and 30,000 shares of restricted stock which vest in equal installments on each of July 1, 2026 and July 1, 2027, in each case subject to the terms of Restricted Stock Agreements entered into between the Issuer and the Reporting Person.
- F2. Award in 2024 of service based stock units convertible into shares of FCF common stock on a 1-for-1 basis at the end of a 3 year vesting period.
- F3. Award in 2025 of service based stock units convertible into shares of FCF common stock on a 1-for-1 basis at the end of a 3 year vesting period.
- F4. Award in 2026 of service based stock units convertible into shares of FCF common stock on a 1-for-1 basis at the end of a 3 year vesting period.
Key Figures
Shares sold June 3, 2026: 5,250 shares
Shares sold June 4, 2026: 5,250 shares
Total shares sold: 10,500 shares
+5 more
8 metrics
Shares sold June 3, 2026
5,250 shares
Open-market sale of common stock at $18.58 per share
Shares sold June 4, 2026
5,250 shares
Open-market sale of common stock at $19.115 per share
Total shares sold
10,500 shares
Aggregate of two open-market sales reported in Form 4
Direct shares after transactions
51,611 shares
Common stock directly owned following June 4, 2026 sale
2024 RSU award underlying shares
6,500 shares
Service-based stock units, 1-for-1 conversion after 3-year vesting
2025 RSU award underlying shares
6,900 shares
Service-based stock units, 1-for-1 conversion after 3-year vesting
2026 RSU award underlying shares
6,800 shares
Service-based stock units, 1-for-1 conversion after 3-year vesting
Restricted stock vesting schedule
8,000 & 30,000 shares
8,000 vest Sept 11, 2026; 30,000 vest July 1, 2026 and July 1, 2027
Key Terms
Restricted Stock Units-Service Based, open-market sale, beneficially owned, Restricted Stock Agreements, +1 more
5 terms
Restricted Stock Units-Service Based financial
"security_title: "Restricted Stock Units-Service Based" with underlying common stock"
open-market sale financial
"transaction_action: "open-market sale" for common stock transactions"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
beneficially owned financial
"Securities Beneficially Owned includes 8,000 shares of restricted stock"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Restricted Stock Agreements financial
"subject to the terms of Restricted Stock Agreements entered into between the Issuer and the Reporting Person"
vesting period financial
"convertible into shares of FCF common stock on a 1-for-1 basis at the end of a 3 year vesting period"
A vesting period is the set amount of time someone must wait before they fully own granted shares, stock options, or other equity tied to their work or an agreement; ownership increases gradually or in steps during that time. Investors care because vesting determines when insiders or employees can sell shares, which affects future supply of stock, company incentives and executive retention—think of it like unlocking ownership over installments rather than receiving it all at once.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did First Commonwealth Financial (FCF) executive Michael McCuen report in this Form 4?
Michael P. McCuen reported open-market sales of First Commonwealth Financial common stock. He sold shares on June 3 and June 4, 2026, and disclosed his remaining direct holdings and several service-based restricted stock and restricted stock unit awards that vest over future years.
What restricted stock does Michael McCuen hold in First Commonwealth Financial (FCF)?
He beneficially owns 8,000 shares of restricted stock vesting in a single installment on September 11, 2026, and 30,000 restricted shares vesting in equal installments on July 1, 2026 and July 1, 2027, subject to the terms of Restricted Stock Agreements with the company.
What restricted stock units (RSUs) does Michael McCuen have tied to First Commonwealth Financial (FCF)?
He has service-based stock unit awards from 2024, 2025 and 2026 covering 6,500, 6,900 and 6,800 underlying FCF common shares, respectively. Each award is convertible into common stock on a 1-for-1 basis at the end of a three-year vesting period, assuming conditions are met.
Is Michael McCuen’s Form 4 transaction in First Commonwealth Financial (FCF) an open-market sale?
Yes. The Form 4 describes both transactions as open-market sales of common stock. They are coded with transaction code “S,” which indicates sales in the open market or a private transaction, and show specific per-share sale prices for each trade date reported.
AI-generated analysis. How Rhea-AI works. Not financial advice.
