Park National CAO updates PBRSU vesting data
Park National Corporation Chief Accounting Officer updates PBRSU vesting and tax withholding details.
Rhea-AI Filing Summary
Park National Corporation Chief Accounting Officer updates PBRSU vesting and tax withholding details. On the 2023 PBRSU Certification Date, performance-based restricted stock units for Kelly A. Herreman converted one-for-one into common shares, with 262.5 PBRSUs exercised and 262.5 PBRSUs granted subject to continued service-based vesting.
As part of this vesting, 262.5 common shares were acquired and a total of 200.587 common shares were withheld at $163.45 per share to satisfy tax obligations. Following these entries, Herreman directly holds 2,324.3228 Park common shares. This amendment corrects the previously estimated number of shares withheld for taxes reported in an earlier Form 4.
Positive
- None.
Negative
- None.
Insider Trade Summary
262.5 shares exercised/converted
Exercise
6 txns
Insider
Herreman Kelly A
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | PBRSUs | 262.5 | $0.00 | $0.00 |
| Grant/Award | PBRSUs | 262.5 | $0.00 | $0.00 |
| Grant/Award | Common Shares | 262.5 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Shares | 99.188 | $163.45 | $16K |
| Exercise | Common Shares | 262.5 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Shares | 101.399 | $163.45 | $17K |
Holdings After Transaction:
PBRSUs — 262.5 contracts (Direct);
Common Shares — 2,324.3228 shares (Direct)
Footnotes (3)
- F1. Effective March 31, 2026 (the "2023 PBRSU Certification Date"), the Executive Committee of the Board of Directors of Park National Corporation ("Park") certified the level of achievement with respect to the performance criteria for the three-fiscal-year performance period applicable to performance-based restricted stock units ("PBRSUs") granted to the reporting person effective January 18, 2023. The PBRSUs convert into Park common shares on a one-for-one basis. The PBRSUs earned based on the performance level achieved are also subject to a service-based vesting requirement with 50% vesting (resulting in the right to receive the number of common shares shown in the first row in Table I) on the 2023 PBRSU Certification Date and the other 50% to vest on the first anniversary of the 2023 PBRSU Certification Date (shown in the second row in Table II as a derivative security).
- F2. In the April 2, 2026 Form 4, an estimated number of Park common shares was reported as being withheld by Park in order to satisfy the tax withholding obligations of the reporting person that arose upon the vesting of the PBRSUs which were not subject to the service-based vesting requirement described in footnote (1) and the vesting of the PBRSUs that had been subject to the service-based vesting requirement described in footnote (3), as applicable. This amendment reports the correct number of common shares withheld.
- F3. These common shares of Park were acquired upon the satisfaction of a service-based vesting requirement whereby PBRSUs were converted into Park common shares on a one-for-one basis.
Key Figures
PBRSUs exercised: 262.5 PBRSUs
PBRSUs granted (service-based): 262.5 PBRSUs
Common shares acquired: 262.5 shares
+3 more
6 metrics
PBRSUs exercised
262.5 PBRSUs
Converted into Park common shares on March 31, 2026
PBRSUs granted (service-based)
262.5 PBRSUs
Granted subject to future service-based vesting
Common shares acquired
262.5 shares
Common shares from PBRSU vesting on March 31, 2026
Shares withheld for taxes
200.587 shares
Tax-withholding dispositions on March 31, 2026
Tax-withholding price
$163.45 per share
Price applied to withheld common shares
Post-transaction holdings
2,324.3228 shares
Direct Park common shares held after transactions
Key Terms
PBRSUs, performance-based restricted stock units, service-based vesting requirement, tax withholding obligations, +1 more
5 terms
PBRSUs financial
"performance-based restricted stock units ("PBRSUs") granted to the reporting person"
performance-based restricted stock units financial
"performance-based restricted stock units ("PBRSUs") granted to the reporting person"
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.
service-based vesting requirement financial
"also subject to a service-based vesting requirement with 50% vesting"
tax withholding obligations financial
"shares was reported as being withheld by Park in order to satisfy the tax withholding obligations"
Form 4 regulatory
"In the April 2, 2026 Form 4, an estimated number of Park common shares was reported"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did PRK’s Kelly A. Herreman report on March 31, 2026?
Kelly A. Herreman reported PBRSU vesting that converted into Park common shares and related tax-withholding entries. 262.5 common shares were acquired, while 200.587 shares were withheld to cover taxes, all dated March 31, 2026.
What are PBRSUs in the Park National (PRK) Form 4/A filing?
PBRSUs are performance-based restricted stock units that convert into Park common shares on a one-for-one basis. The filing shows PBRSUs earned for a three-year performance period, with part vesting immediately and the rest vesting after an additional service-based period.
Why was this Park National (PRK) Form 4/A filed as an amendment?
The Form 4/A corrects the previously reported estimated number of Park common shares withheld to satisfy tax obligations from PBRSU vesting. It replaces that estimate with the precise number of shares actually withheld for taxes.
What tax-withholding price is shown in the Park National (PRK) Form 4/A?
Shares withheld to cover tax obligations are priced at $163.45 per share. This price is applied to 99.188 and 101.399 Park common shares that were withheld rather than being retained as part of the PBRSU vesting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
