[Form 4] HILLTOP HOLDINGS INC. Insider Trading Activity

Rhea-AI Filing Summary

Micron Technology (MU) has filed a Form 4 reporting routine board compensation for Director Robert Holmes Swan. On 30 June 2025 the director received 250 Restricted Stock Units (RSUs) at an exercise price of $0.00 in lieu of a cash retainer. The award vested 100 % on the grant date. Because Mr. Swan elected to defer settlement, the underlying shares will be issued to him within 15 days of his separation from the board. The filing also lists 4,444 common shares held directly after the reported transactions; no open-market purchases or sales were disclosed.

• The RSU grant is a non-cash, non-dilutive compensation expense for Micron.
• No change in corporate cash position or insider buying/selling signal.
• Filing maintains compliance with Section 16 reporting requirements.

The event does not materially impact Micron’s financials or governance profile and is viewed as neutral for shareholders.

Positive

• Alignment of interests: Granting equity rather than cash encourages director focus on long-term share performance.
• Non-cash compensation: Preserves Micron’s cash while rewarding board service.

Negative

• Future dilution: Although small, deferred RSU settlement will add 250 shares to the float.

Insights

Securities Analyst

TL;DR: Routine 250-share RSU grant to director; no market impact, neutral signal, aligns board interests with shareholders.

The RSU award is standard board compensation and involves no cash outlay or open-market transaction. The immediate vesting but deferred share delivery means dilution, if any, is minimal and deferred. The director’s total reported direct interest stands at 4,444 common shares plus the new RSUs, indicating continued alignment with shareholder value but offering no directional insight. Overall, the filing is administratively important yet not financially material.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bolt Tracy Allan

(Last) (First) (Middle)

6565 HILLCREST AVENUE

(Street)

DALLAS TX 75205

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hilltop Holdings Inc. [ HTH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/30/2025		A		1,097(1)	A	$29.852(2)	54,725	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares acquired pursuant to the Hilltop Holdings Inc. 2020 Equity Incentive Plan as compensation for services rendered as a director in the second calendar quarter of 2025.

2. Price per share calculated using the average closing price per share for the period from June 16, 2025 to June 30, 2025.

Remarks:

	/s/ Tracy Allan Bolt	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Micron (MU) shares did Director Robert Swan receive?

He was granted 250 RSUs, fully vested on 30 June 2025.

Did the Form 4 show any open-market buying or selling by the director?

No. The filing reports only an RSU grant; there were no purchases or sales of common stock.

When will the 250 RSUs convert to Micron common shares?

Shares will be delivered within 15 days after Mr. Swan separates from Micron’s board, per his deferral election.

What is Robert Swan’s reported Micron share ownership after the transaction?

The Form 4 lists 4,444 common shares held directly plus the newly awarded 250 RSUs.

Is the RSU grant material to Micron Technology investors?

Given the small size relative to Micron’s share count, the event is considered not materially impactful.