First Financial Bankshares (FFIN) CFO shifts stock into retirement plan
Rhea-AI Filing Summary
FIRST FINANCIAL BANKSHARES INC (FFIN) reported that EVP/CFO Michelle S. Hickox elected to defer settlement of vested equity awards into deferred stock units under the company’s Supplemental Executive Retirement Plan (SERP). On August 14 and August 16, she exchanged 2,337 and 1,354 restricted stock units, respectively, for equal numbers of deferred stock units payable upon her termination. Corresponding dispositions of the same numbers of common shares to the issuer were reported. A separate line reflects 14,600 common shares held indirectly in an IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 3,691 shares
Net Sell
5 txns
Insider
Hickox Michelle S
Role
EVP/CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Deferred Stock Units F2 | 1,354 | -- | -- |
| Disposition | Common Stock F2 | 1,354 | -- | -- |
| Grant/Award | Deferred Stock Units F1 | 2,337 | -- | -- |
| holding | Common Stock | -- | -- | -- |
| Disposition | Common Stock F1 | 2,337 | -- | -- |
Holdings After Transaction:
Deferred Stock Units — 13,697 shares (Direct);
Common Stock — 8,170 shares (Direct);
Common Stock — 14,600 shares (Indirect, By IRA)
Footnotes (2)
- F1. In connection with the vesting on August 14, 2026, of 2,337 restricted stock units previously granted to the reporting person, the reporting person's receipt of 2,337 shares of common stock was deferred resulting in the reporting person's receipt instead of 2,337 shares of deferred stock units into the First Financial Bankshares, Inc. Supplemental Executive Retirement Plan, as amended and restated effected July 26, 2022 (the "SERP"). The reporting person is therefore reporting the disposition of 2,337 restricted stock units in exchange for an equal number of deferred stock units under the SERP, which are payable upon the reporting person's termination.
- F2. In connection with the vesting on August 16, 2026, of 1,354 restricted stock units previously granted to the reporting person, the reporting person's receipt of 1,354 shares of common stock was deferred resulting in the reporting person's receipt instead of 1,354 shares of deferred stock units into the First Financial Bankshares, Inc. Supplemental Executive Retirement Plan, as amended and restated effected July 26, 2022 (the "SERP"). The reporting person is therefore reporting the disposition of 1,354 restricted stock units in exchange for an equal number of deferred stock units under the SERP, which are payable upon the reporting person's termination.
Key Figures
Deferred stock units granted (Transaction 1): 2,337 units
Deferred stock units granted (Transaction 2): 1,354 units
Common shares indirectly held by IRA: 14,600 shares
+2 more
5 metrics
Deferred stock units granted (Transaction 1)
2,337 units
Deferred stock units received in exchange for 2,337 vested restricted stock units under the SERP
Deferred stock units granted (Transaction 2)
1,354 units
Deferred stock units received in exchange for 1,354 vested restricted stock units under the SERP
Common shares indirectly held by IRA
14,600 shares
Indirect ownership of FFIN common stock held "By IRA" after reported transactions
Restricted stock units disposed (Transaction 1)
2,337 units
Restricted stock units exchanged for an equal number of deferred stock units under the SERP
Restricted stock units disposed (Transaction 2)
1,354 units
Restricted stock units exchanged for an equal number of deferred stock units under the SERP
Key Terms
Deferred Stock Units, restricted stock units, Supplemental Executive Retirement Plan, disposition to issuer
4 terms
Deferred Stock Units financial
"the reporting person's receipt instead of 2,337 shares of deferred stock units"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
restricted stock units financial
"vesting on August 14, 2026, of 2,337 restricted stock units previously granted"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Supplemental Executive Retirement Plan financial
"deferred stock units into the First Financial Bankshares, Inc. Supplemental Executive Retirement Plan"
disposition to issuer financial
"transaction_action":"issuer disposition""
FAQ
What equity transactions did FFIN EVP/CFO Michelle Hickox report on this Form 4?
Michelle Hickox reported exchanging vested restricted stock units for 2,337 and 1,354 deferred stock units under FFIN’s SERP, with corresponding dispositions of the same number of common shares back to the issuer, and disclosed 14,600 common shares held indirectly in an IRA.
How many deferred stock units did the FFIN EVP/CFO receive in the recent transactions?
She received 2,337 deferred stock units in one transaction and 1,354 in another. Each grant corresponds to the vesting of an equal number of previously granted restricted stock units, which were deferred into the SERP instead of settling in common stock.
What happened to the restricted stock units reported by FFIN’s EVP/CFO?
Vested restricted stock units were exchanged for deferred stock units on a one-for-one basis. Specifically, 2,337 and 1,354 restricted stock units were disposed of and replaced by the same numbers of deferred stock units credited under the SERP, payable upon her termination of service.
Are the deferred stock units for FFIN’s EVP/CFO immediately payable?
No, the deferred stock units are payable upon the reporting person’s termination. The footnotes explain that the units are credited into the First Financial Bankshares, Inc. Supplemental Executive Retirement Plan (SERP) and are designed to settle in the future rather than at vesting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
