Fulton Financial (NASDAQ: FULT) CRO reports PSU vesting, tax withholding and new RSU grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fulton Financial Corporation’s Chief Risk Officer Atul Malhotra reported routine equity compensation activity and related share movements. On May 1, 2026, performance stock units covering 5,942.1154 shares of $2.50 par value common stock were earned and converted into the same number of shares, reflecting achievement of total shareholder return and net income goals from awards granted on May 1, 2023.
Of these shares, 2,600.1154 were withheld at $21.62 per share to cover Malhotra’s tax liability, a non-market disposition. He also received a new grant of 4,883 restricted stock units under the 2022 Amended and Restated Equity and Cash Incentive Compensation Plan, which will cliff-vest three years from the grant date with dividend equivalents delivered at vesting.
In addition, the filing notes ongoing holdings through dividend reinvestment, including 1,189.0210 depository shares of Non-Cumulative Perpetual Preferred Series A and 5.8420 common shares held indirectly in an IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
5,942.115 shares exercised/converted
Mixed
6 txns
Insider
Malhotra Atul
Role
Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Units | 5,942.115 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 4,883 | $0.00 | -- |
| Exercise | $2.50 par value Common Stock | 5,942.115 | $0.00 | -- |
| Tax Withholding | $2.50 par value Common Stock | 2,600.115 | $21.62 | $56K |
| holding | $2.50 par value Common Stock | -- | -- | -- |
| holding | Depository shares-Non-Cumulative Perpetual Preferred Ser A | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 0 shares (Direct, null);
Restricted Stock Units — 13,252.475 shares (Direct, null);
$2.50 par value Common Stock — 22,124.369 shares (Direct, null);
$2.50 par value Common Stock — 5.842 shares (Indirect, By IRA);
Depository shares-Non-Cumulative Perpetual Preferred Ser A — 1,189.021 shares (Direct, null)
Footnotes (1)
- Includes 141.60 shares acquired on January 15, 2026; 12.1851 shares acquired on January 16, 2026; 129.413 shares acquired on April 15, 2026 and 11.3605 shares acquired on April 16, 2026 pursuant to dividend reinvestment. Represents shares withheld to cover the reporting person's tax liability. Includes .0560 shares acquired on January 15, 2026 and .0510 shares acquired on April 15, 2026 pursuant to dividend reinvestment. Includes 19.852 shares acquired on January 15, 2026 and 20.030 shares acquired on April 15, 2026 pursuant to dividend reinvestment. Each performance-based restricted stock unit represents a contingent right to receive one share of Fulton Financial Corporation's common stock. Reflects the earning and vesting of certain performance-based restricted stock units ("PSUs"), including accrued dividend equivalents, as of May 1, 2026. The PSUs were granted on May 1, 2023. The PSUs were earned and vested based upon Fulton Financial Corporation's level of achievement of total shareholder return, relative to a defined peer group, and net income goals during the applicable performance periods, as specified at the time of grant. Each restricted stock unit represents a contingent right to receive one share of Fulton Financial Corporation common stock. Restricted stock unit award granted May 1, 2026, under the Fulton Financial Corporation 2022 Amended and Restated Equity and Cash Incentive Compensation Plan. The restricted stock units cliff-vest three years from the grant date. Vested shares, together with accumulated dividend equivalents will be delivered to the reporting person three years from the grant date.
Key Figures
PSUs exercised: 5,942.1154 shares
Shares withheld for taxes: 2,600.1154 shares at $21.62
New RSU grant: 4,883 units
+2 more
5 metrics
PSUs exercised
5,942.1154 shares
Performance stock units earned and vested into common stock as of May 1, 2026
Shares withheld for taxes
2,600.1154 shares at $21.62
Common shares withheld to cover tax liability on vesting event
New RSU grant
4,883 units
Restricted stock units granted May 1, 2026 under 2022 equity and cash plan
Preferred depository shares held
1,189.0210 shares
Non-Cumulative Perpetual Preferred Series A holdings, including dividend reinvestment
Common shares in IRA
5.8420 shares
Indirect common stock holdings by IRA, including dividend reinvestment
Key Terms
performance-based restricted stock units, dividend reinvestment, tax liability, cliff-vest, +1 more
5 terms
performance-based restricted stock units financial
"Reflects the earning and vesting of certain performance-based restricted stock units ("PSUs"), including accrued dividend equivalents"
Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.
dividend reinvestment financial
"shares acquired on January 15, 2026 and April 15, 2026 pursuant to dividend reinvestment"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
tax liability financial
"Represents shares withheld to cover the reporting person's tax liability."
cliff-vest financial
"The restricted stock units cliff-vest three years from the grant date."
FAQ
What did FULT Chief Risk Officer Atul Malhotra report in this Form 4?
Atul Malhotra reported vesting of performance stock units into 5,942.1154 Fulton Financial common shares, tax withholding of 2,600.1154 shares, and a new grant of 4,883 restricted stock units, along with updated preferred and IRA share holdings.
How many Fulton Financial performance stock units vested for Atul Malhotra?
Performance stock units covering 5,942.1154 shares vested and converted into Fulton Financial common stock. These PSUs, originally granted on May 1, 2023, were earned based on total shareholder return versus a peer group and net income goals over defined performance periods.
What new restricted stock units did Atul Malhotra receive from FULT?
Malhotra received 4,883 restricted stock units, each representing one Fulton Financial common share. The award was granted May 1, 2026 under the 2022 Amended and Restated Equity and Cash Incentive Compensation Plan and will cliff-vest three years from the grant date with dividend equivalents.
How were dividend reinvestments reflected in Atul Malhotra’s FULT holdings?
Footnotes state that additional fractional shares were acquired on several dates through dividend reinvestment. These include amounts such as 141.60 and 129.413 common shares, plus smaller fractions in both common and preferred depository shares, gradually increasing Malhotra’s long-term holdings without separate cash purchases.
What Fulton Financial preferred and IRA holdings does Atul Malhotra report?
Malhotra directly holds 1,189.0210 depository shares of Non-Cumulative Perpetual Preferred Series A and indirectly holds 5.8420 common shares through an IRA. Both positions reflect accumulated dividend reinvestments in addition to his broader common stock and equity award holdings.