[Form 4] First Financial Bankshares Inc Insider Trading Activity

Rhea-AI Filing Summary

Lon A. Biebighauser, a Trust Company President and officer of First Financial Bankshares Inc. (FFIN), reported transactions dated 08/14/2025. He was granted 1,153 restricted stock units (RSUs) that vest in three approximately equal installments on each anniversary of the grant and carry a reported price of $0. After the grant his beneficial ownership of common stock is 10,523 shares (direct). On the same date he was also granted 3,872 employee stock options with an exercise price of $36.43, exercisable through 08/14/2035, and vesting 33.33% after one year, 66.66% after two years, and fully after three years. The Form 4 was signed on behalf of Mr. Biebighauser by Michelle S. Hickox as attorney-in-fact on 08/18/2025.

Positive

• Officer alignment with shareholders via grant of 1,153 RSUs that vest over three years
• Long-term incentive provided by 3,872 options with a 10-year term to 08/14/2035
• Disclosure includes vesting schedules and post-grant ownership, enabling investor transparency

Negative

• None.

Insights

Corporate Governance Expert

TL;DR Routine equity compensation grants were reported, aligning the officer with shareholder interests through RSUs and long-dated options.

The Form 4 documents standard executive compensation elements: a grant of 1,153 RSUs that vest over three years and 3,872 employee stock options with a $36.43 exercise price and a 10-year term to 08/14/2035. These grants are typical for retaining senior officers and do not, by themselves, indicate a change in control or material corporate action. The disclosure is complete about vesting schedules and post-grant beneficial ownership, and it is signed by an attorney-in-fact, which is acceptable for Section 16 reporting.

Compensation Analyst

TL;DR The package combines time-based RSUs and long-term options, mixing retention and upside incentives for the officer.

The equity mix—RSUs vesting annually and options vesting over three years—provides immediate share alignment via RSUs and potential upside through options exercisable at $36.43. The options’ 10-year life is standard, and the RSUs carry a reported acquisition price of $0, consistent with typical grant accounting for restricted awards. Reported post-grant ownership of 10,523 shares gives context to the officer’s current direct stake.

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^*

Biebighauser Lon A.

(Last) (First) (Middle)

P O BOX 701

(Street)

ABILENE TX 79604

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST FINANCIAL BANKSHARES INC [ FFIN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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	08/14/2025		A		1,153(1)	A	$0	10,523	D

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
Employee Stock Option, Right to Buy	$36.43	08/14/2025		A		3,872		(2)	08/14/2035	Common Stock	3,872	$36.43	3,872	D

Explanation of Responses:

1. Reflects grant of restricted stock units (RSUs) which vest in three approximately equal installments on each of the three anniversaries of the grant date.

2. The options vest 33.33% after one year from the grant date, 66.66% after the second year, and 100% after the third year.

	Michelle S. Hickox Attorney in Fact for Lon A. Biebighauser	08/18/2025
	** 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 did Lon A. Biebighauser report on Form 4 for FFIN?

The Form 4 reports a grant of 1,153 RSUs and 3,872 employee stock options to Lon A. Biebighauser dated 08/14/2025.

How many shares does Mr. Biebighauser beneficially own after the reported transaction?

He reports 10,523 shares of common stock beneficially owned following the transaction.

What are the key terms of the stock options granted?

The options number 3,872, have an exercise price of $36.43, vest over three years (33.33%/66.66%/100%), and expire on 08/14/2035.

What is the vesting schedule for the RSUs?

The 1,153 RSUs vest in three approximately equal installments on each of the three anniversaries of the grant date.

Who signed the Form 4 and when?

The Form 4 was signed by Michelle S. Hickox as attorney-in-fact for Lon A. Biebighauser on 08/18/2025.