First Horizon exec updates holdings after share redemption
FIRST HORIZON CORP executive Anthony J. Restel reported administrative updates to his holdings related to a preferred stock redemption.
Rhea-AI Filing Summary
FIRST HORIZON CORP executive Anthony J. Restel reported administrative updates to his holdings related to a preferred stock redemption. The company redeemed all outstanding 6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C, which triggered the simultaneous redemption of associated Depositary Shares at $25 per Depositary Share.
In total, 3,050 Depositary Shares, each representing a 1/400th interest in a Series C preferred share, were removed from Restel’s direct and indirect holdings, leaving zero Depositary Shares reported. His common stock position after these updates was 675,863 shares held directly and 19,523 shares held indirectly through an IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 3,050 shares
Other
4 txns
Insider
Restel Anthony J
Role
SEVP, Chief Banking Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Depositary Shares | 3,000 | $25.00 | $75K |
| Other | Depositary Shares | 50 | $25.00 | $1K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Depositary Shares — 0 shares (Direct);
Depositary Shares — 0 shares (Indirect, Indirect by Child);
Common Stock — 675,863 shares (Direct);
Common Stock — 19,523 shares (Indirect, IRA)
Footnotes (1)
- F1. Each of these depositary shares (the "Depositary Shares") represents a 1/400th interest in a share of the issuer's 6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C ("Preferred Stock"). All outstanding shares of the Preferred Stock were redeemed by the issuer on May 1, 2026, at a redemption price of $10,000 per share of Preferred Stock, resulting in the simultaneous redemption by the issuer of the Depositary Shares at a redemption price of $25 per Depositary Share.
Key Figures
Depositary Shares restructured: 3,050 shares
Redemption price per Depositary Share: $25 per share
Redemption price per Preferred share: $10,000 per share
+4 more
7 metrics
Depositary Shares restructured
3,050 shares
Other (J) transactions tied to Series C redemption
Redemption price per Depositary Share
$25 per share
Issuer redemption of Depositary Shares
Redemption price per Preferred share
$10,000 per share
Series C Preferred Stock redemption
Preferred-to-depositary ratio
1/400th interest
Each Depositary Share vs one Series C preferred share
Common stock direct holding
675,863 shares
Common shares held directly after transactions
Common stock indirect holding (IRA)
19,523 shares
Common shares held indirectly through IRA
Preferred dividend rate
6.600%
Series C Fixed-to-Floating Non-Cumulative Perpetual Preferred
Key Terms
Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Fixed-to-Floating, redemption price, +1 more
5 terms
Non-Cumulative Perpetual Preferred Stock financial
"6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C"
Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.
Fixed-to-Floating financial
"6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C"
A fixed-to-floating security is a loan or bond that pays a set interest rate for an initial period and then switches to a variable rate tied to a market benchmark (like LIBOR or a government rate). Think of it as a paycheck that starts fixed and later fluctuates with the economy: it gives predictable income early on but exposes holders to changing interest rates later, affecting expected returns, price volatility, and how attractive the security is compared with other income options.
redemption price financial
"were redeemed by the issuer on May 1, 2026, at a redemption price of $10,000 per share"
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.
IRA financial
"total_shares_following_transaction": "19523.0000" ... "nature_of_ownership": "IRA""
An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Anthony J. Restel report in this Form 4 for FIRST HORIZON (FHN)?
He reported administrative changes tied to a preferred stock redemption. The filing shows his Depositary Shares linked to Series C preferred stock were fully redeemed, while his common stock holdings remained at 675,863 shares directly and 19,523 shares indirectly via an IRA.
What are Anthony J. Restel’s FIRST HORIZON (FHN) common stock holdings after this Form 4?
After these transactions, he reported 675,863 common shares held directly and 19,523 common shares held indirectly through an IRA. The changes primarily relate to Depositary Shares; the filing does not show open-market buying or selling of common stock.
Was this FIRST HORIZON (FHN) Form 4 an open-market trade by the executive?
No, the key activity involves redemption of Depositary Shares due to the company’s preferred stock redemption. The transactions are coded as other (J) and appear as restructuring rather than open-market buying or selling by the executive.
AI-generated analysis. How Rhea-AI works. Not financial advice.
