First Financial Bankshares Form 4: Bailey Increases Stake by 2K Shares

Rhea-AI Filing Summary

First Financial Bankshares (FFIN) Form 4: President David W. Bailey exercised employee stock options on 07/24/2025, acquiring 2,000 common shares at an exercise price of $16.95 (transaction code “M”). After the exercise, his direct beneficial ownership stands at 15,672 shares. The underlying option—granted 10/27/2021 and expiring 10/27/2025—has been fully exercised, leaving Bailey with no remaining derivative securities. No shares were sold and no indirect holdings were reported.

Positive

• Insider acquisition: President added 2,000 shares through option exercise, modestly increasing ownership alignment.

Negative

• Small transaction size: The 2,000-share increase is immaterial to overall float, limiting signaling strength.

Insights

Financial Analyst

TL;DR: Routine option exercise; modest insider purchase marginally signals confidence but is too small to be market-moving.

Bailey’s 2,000-share option exercise increases his direct stake to 15,672 shares, suggesting continued alignment with shareholders. However, the dollar value (~$34k) is immaterial relative to FFIN’s market cap, so the filing has limited informational value for valuation models. No disposals occurred, avoiding dilution concerns. Overall impact on trading sentiment is neutral.

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
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bailey David William

(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)
	President

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

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	07/24/2025		M		2,000	A	$16.95	15,672	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	$16.95	07/24/2025		M			2,000	10/27/2021	10/27/2025	Common Stock	2,000	$16.95	0	D

Explanation of Responses:

	By: Michelle S. Hickox Attorney in Fact for David W. Bailey	07/28/2025
	** 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

How many FFIN shares did President David W. Bailey acquire?

He acquired 2,000 common shares on 07/24/2025 via option exercise.

What was the exercise price of the options?

The options were exercised at $16.95 per share.

How many FFIN shares does Bailey now own directly?

His direct beneficial ownership is 15,672 shares.

Were any derivative securities left after the transaction?

No, the option for 2,000 shares was fully exercised, leaving zero derivative securities.

Did the filing report any share sales by the insider?

No. The transaction involved acquisition only; there were no dispositions.