Fulton Financial (FULT) CLO settles performance stock units and receives new RSU grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fulton Financial Corp senior executive Natasha R. Luddington reported compensation-related equity activity. On May 1, 2026, she exercised 30,005.1292 performance stock units, receiving the same number of shares of $2.50 par value common stock based on pre-set performance goals.
To cover taxes, 13,233.1292 common shares were withheld at $21.62 per share, a tax-withholding disposition rather than an open-market sale, leaving her with 35,881 common shares directly owned. She also received a new grant of 5,524 restricted stock units that cliff-vest three years from the May 1, 2026 grant date under the company’s 2022 equity and cash incentive plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
30,005.129 shares exercised/converted
Mixed
4 txns
Insider
Luddington Natasha R.
Role
Sr.EVP & Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Units | 30,005.129 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 5,524 | $0.00 | -- |
| Exercise | $2.50 par value Common Stock | 30,005.129 | $0.00 | -- |
| Tax Withholding | $2.50 par value Common Stock | 13,233.129 | $21.62 | $286K |
Holdings After Transaction:
Performance Stock Units — 0 shares (Direct, null);
Restricted Stock Units — 22,108.281 shares (Direct, null);
$2.50 par value Common Stock — 49,114.129 shares (Direct, null)
Footnotes (1)
- Represents shares withheld to cover the reporting person's tax liability. 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: 30,005.1292 units
Shares withheld for taxes: 13,233.1292 shares at $21.62
Common shares held after transaction: 35,881 shares
+3 more
6 metrics
PSUs exercised
30,005.1292 units
Performance stock units earned and vested as of May 1, 2026
Shares withheld for taxes
13,233.1292 shares at $21.62
Common shares withheld to cover tax liability on vesting
Common shares held after transaction
35,881 shares
Direct ownership of $2.50 par value common stock post-transaction
New RSU grant
5,524 units
Restricted stock unit award granted May 1, 2026
Outstanding derivative units
22,108.2805 units
Total derivative holdings after transactions, primarily RSUs
Exercise/tax price
$21.62 per share
Value used for tax-withholding disposition of common shares
Key Terms
Performance Stock Units, Restricted Stock Units, tax liability, cliff-vest, +2 more
6 terms
Performance Stock Units financial
"Reflects the earning and vesting of certain performance-based restricted stock units ("PSUs"), including accrued dividend equivalents"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of Fulton Financial Corporation common stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
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."
dividend equivalents financial
"including accrued dividend equivalents, as of May 1, 2026."
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
Equity and Cash Incentive Compensation Plan financial
"under the Fulton Financial Corporation 2022 Amended and Restated Equity and Cash Incentive Compensation Plan."
FAQ
What did FULT’s Natasha Luddington report in this Form 4 filing?
Natasha Luddington reported exercising 30,005.1292 performance stock units into common stock, a tax-withholding disposition of 13,233.1292 shares, and receiving 5,524 new restricted stock units as part of her Fulton Financial Corp equity compensation on May 1, 2026.
Did Natasha Luddington sell FULT stock in the open market?
No open-market sale is shown. The Form 4 reports 13,233.1292 common shares withheld at $21.62 per share solely to cover her tax liability when performance-based stock units vested, which is treated as a tax-withholding disposition rather than a discretionary market sale.
What performance conditions applied to Luddington’s FULT performance stock units?
The performance stock units vested based on Fulton Financial’s total shareholder return versus a defined peer group and net income goals during specified performance periods. These units, including accrued dividend equivalents, were earned and vested as of May 1, 2026 under those pre-set criteria.
What are the terms of Luddington’s new restricted stock unit grant at FULT?
Luddington was granted 5,524 restricted stock units on May 1, 2026 under Fulton Financial’s 2022 Amended and Restated Equity and Cash Incentive Compensation Plan. These units cliff-vest three years from the grant date, with vested shares and accumulated dividend equivalents delivered at that time.
How many performance stock units remain for Natasha Luddington after this Form 4?
The Form 4 shows 30,005.1292 performance stock units exercised into common shares and a derivative position of zero remaining for those units, indicating that this particular block of performance-based units has been fully earned, vested, and converted as of May 1, 2026.