Primis Financial (FRST) EVP gains 3,469 shares in PSU conversion
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Primis Financial Corp. executive Marie Taylor Leibson reported equity awards vesting and conversion into common stock. On March 5, 2026, performance-based restricted stock units were exercised and converted into 3,469 shares of common stock at an exercise price of $0.00 per share, increasing her direct common stock holdings to 63,347.88 shares.
Footnotes explain that performance-based restricted stock units convert into common stock on a 1‑to‑1 basis, with 2020 PSUs and a portion of 2025 PSUs vesting on March 5, 2026 based on performance. Additional PSUs remain eligible to vest in 2027 and 2028, and she also holds indirect common stock through a 401(k) plan and shares in an IRA, as well as restricted stock and employee stock options.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,469 shares exercised/converted
Mixed
7 txns
Insider
Leibson Marie Taylor
Role
EVP, Chief Credit Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance-Based Restrictd Stock Units | 1,500 | $0.00 | -- |
| Exercise | Performance-Based Restricted Stock Units | 1,969 | $0.00 | -- |
| Exercise | Common Stock | 3,469 | $0.00 | -- |
| holding | Performance-Based Restricted Stock Units | -- | -- | -- |
| holding | Performance-Based Restricted Stock Units | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance-Based Restrictd Stock Units — 0 shares (Direct);
Performance-Based Restricted Stock Units — 8,531 shares (Direct);
Common Stock — 63,347.88 shares (Direct);
Employee Stock Option (right to buy) — 5,500 shares (Direct);
Common Stock — 9,761.917 shares (Indirect, By 401K Plan)
Footnotes (1)
- Includes 10,061.40 shares held in an IRA for Ms. Leibson's benefit. Includes 3,000 shares of Restricted Stock. Includes additional shares acquired in 401K Plan since prior filing. Performance-based restricted stock units (PSUs) convert to shares of issuer common stock on a 1-to-1 basis. 2020 PSUs vested on March 5, 2026, based on the level of achievement of applicable performance metrics. One-third of the 2025 PSUs vested on March 5, 2026, based on the level of achievement of applicable performance metrics. PSUs are eligible to vest in 2028. PSUs are eligible to vest in 2027.
FAQ
What insider transaction did FRST executive Marie Taylor Leibson report?
Marie Taylor Leibson reported exercising performance-based restricted stock units into common stock. On March 5, 2026, PSUs converted into 3,469 shares of Primis Financial Corp. common stock at a zero exercise price, reflecting vesting of performance-based equity awards.
What equity awards vested for FRST executive Marie Taylor Leibson on March 5, 2026?
Performance-based restricted stock units from 2020 and one-third of 2025 awards vested for Marie Taylor Leibson on March 5, 2026. These PSUs converted into shares of Primis Financial common stock based on achievement of performance metrics, at a 1‑to‑1 conversion ratio.
How do Primis Financial (FRST) PSUs convert into common stock for this Form 4?
The performance-based restricted stock units convert into Primis Financial common stock on a 1‑to‑1 basis. When vesting conditions tied to performance metrics are met, each PSU delivers one share of common stock to the reporting executive, with no exercise price stated.
What other Primis Financial (FRST) holdings does Marie Taylor Leibson report?
Marie Taylor Leibson also reports indirect holdings in a 401(k) plan and shares in an IRA, plus restricted stock and employee stock options. The filing notes additional PSUs eligible to vest in 2027 and 2028, complementing the vested awards converted to common shares.
Did the FRST Form 4 show any stock sales by Marie Taylor Leibson?
The Form 4 shows exercises and conversions of performance-based restricted stock units into Primis Financial common shares, not open-market sales. The transactions use code M, indicating derivative security exercises rather than buy-or-sell trades in the market.