Fifth Third (NASDAQ: FITB) CFO uses stock to cover tax bill
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fifth Third Bancorp’s Chief Financial Officer and EVP Bryan D. Preston reported automatic share dispositions tied to restricted stock vesting. On the RSU vest dates, the company withheld 520 shares at $52.86 and 1,216 shares at $52.86 to cover tax obligations, as noted in the footnotes. These are tax-withholding dispositions rather than open-market sales. After these transactions, Preston directly owned about 75,686 common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Preston Bryan D.
Role
Chief Financial Officer & EVP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 520 | $52.86 | $27K |
| Tax Withholding | Common Stock | 1,216 | $52.86 | $64K |
Holdings After Transaction:
Common Stock — 76,902.308 shares (Direct)
Footnotes (1)
- Shares withheld for taxes upon the vesting of restricted stock units granted to the reporting person on February 14, 2023. Shares withheld for taxes upon the vesting of restricted stock units granted to the reporting person on February 14, 2024.
FAQ
What did Fifth Third Bancorp (FITB) disclose in this Form 4 for its CFO?
The filing shows Fifth Third Bancorp CFO Bryan D. Preston had shares withheld to cover taxes on restricted stock vesting, disposing of 520 and 1,216 common shares at $52.86 each through tax-withholding transactions.
Were the Fifth Third (FITB) CFO’s Form 4 transactions open-market stock sales?
No. The transactions were tax-withholding dispositions. Fifth Third withheld 1,736 total common shares from Bryan D. Preston upon RSU vesting to pay tax liabilities, rather than him selling shares in the open market.
What does transaction code F mean in the Fifth Third (FITB) Form 4?
Transaction code F indicates shares were used to pay an exercise price or tax liability. Here, it means Fifth Third withheld common shares from Bryan D. Preston to satisfy taxes on restricted stock unit vesting.