First Financial (NASDAQ: FFIN) grants EVP stock options and RSUs
Rhea-AI Filing Summary
FIRST FINANCIAL BANKSHARES INC (FFIN) reported equity compensation changes for EVP and General Counsel Brian D. Goodrich. He received 1,814 shares of common stock as a grant of restricted stock units vesting in three annual installments, and was granted 3,368 employee stock options with a $35.28 exercise price expiring in 2036 that vest over three years. 111 shares of common stock were withheld at $35.28 per share to pay income taxes on previously vested RSUs. In addition, 452 vested RSUs were exchanged for 452 Deferred Stock Units credited under the company’s Supplemental Executive Retirement Plan, payable upon his termination.
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Insider Trade Summary
Net Buyer: 1,251 shares
Net Buy
5 txns
Insider
Goodrich Brian D.
Role
EVP - General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Employee Stock Option, Right to Buy F4 | 3,368 | $35.28 | $119K |
| Grant/Award | Deferred Stock Units F3 | 452 | -- | -- |
| Grant/Award | Common Stock F1 | 1,814 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 111 | $35.28 | $4K |
| Disposition | Common Stock F3 | 452 | -- | -- |
Holdings After Transaction:
Employee Stock Option, Right to Buy — 3,368 shares (Direct);
Deferred Stock Units — 452 shares (Direct);
Common Stock — 7,082 shares (Direct)
Footnotes (4)
- F1. Reflects grant of restricted stock units (RSUs) which vest in three approximately equal installments on each of the three anniversaries of the grant date.
- F2. The reporting person elected, in accordance with the Registrant's 2021 Omnibus Stock and Incentive Plan, to exercise his right to have the Registrant withhold 111 shares of the Registrant's common stock to pay income taxes related to vesting of previously granted restricted stock units.
- F3. In connection with the vesting on August 14, 2026, of 452 restricted stock units previously granted to the reporting person, the reporting person's receipt of 452 shares of common stock was deferred resulting in the reporting person's receipt instead of 452 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 452 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.
- F4. The options vest 33.33% after one year from the grant date, 66.66% after the second year, and 100% after the third year.
Key Figures
Restricted stock units granted: 1,814 shares
Stock options granted: 3,368 options
Option exercise price: $35.28 per share
+3 more
6 metrics
Restricted stock units granted
1,814 shares
Grant of RSUs in common stock vesting in three approximately equal annual installments
Stock options granted
3,368 options
Employee stock options with right to buy common stock
Option exercise price
$35.28 per share
Exercise price for 3,368 employee stock options granted on August 14, 2026
Option expiration
August 14, 2036
Expiration date of the 3,368 employee stock options
Shares withheld for taxes
111 shares
Common shares withheld to pay income taxes on vesting RSUs at $35.28 per share
RSUs exchanged for Deferred Stock Units
452 units
Vested RSUs exchanged for an equal number of Deferred Stock Units under the SERP
Key Terms
restricted stock units (RSUs), Deferred Stock Units, 2021 Omnibus Stock and Incentive Plan, Supplemental Executive Retirement Plan
4 terms
restricted stock units (RSUs) financial
"Reflects grant of restricted stock units (RSUs) which vest in three approximately"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
Deferred Stock Units financial
"In connection with the vesting on August 14, 2026, of 452 restricted 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.
2021 Omnibus Stock and Incentive Plan financial
"in accordance with the Registrant's 2021 Omnibus Stock and Incentive Plan, to"
Supplemental Executive Retirement Plan financial
"Deferred Stock Units into the First Financial Bankshares, Inc. Supplemental Executive"
FAQ
What equity awards did FFIN grant to Brian D. Goodrich on this Form 4 date?
Brian D. Goodrich received 1,814 shares of common stock as restricted stock units and 3,368 employee stock options with a $35.28 exercise price. Both awards vest in approximately equal installments over three years from the grant date.
What happened to the 452 restricted stock units reported for FFIN’s Brian D. Goodrich?
Upon vesting of 452 restricted stock units on August 14, 2026, Goodrich deferred receipt of the underlying shares, receiving instead 452 Deferred Stock Units credited to the company’s Supplemental Executive Retirement Plan, payable upon his termination of service.
What are the terms of Brian D. Goodrich’s new stock options in FFIN?
Goodrich was granted 3,368 employee stock options with a $35.28 per share exercise price, expiring on August 14, 2036. The options vest 33.33% after one year, 66.66% after two years, and 100% after three years from the grant date.
Are the Deferred Stock Units reported by FFIN immediately payable to Brian D. Goodrich?
No. The 452 Deferred Stock Units credited to Brian D. Goodrich under the Supplemental Executive Retirement Plan are payable upon his termination. They stem from vested restricted stock units that he elected to defer into the plan.
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