Park National CEO reports PBRSU vesting, tax withholding
Park National Corporation President & CEO Matthew R. Miller reported equity compensation activity tied to performance-based restricted stock units (PBRSUs).
Rhea-AI Filing Summary
Park National Corporation President & CEO Matthew R. Miller reported equity compensation activity tied to performance-based restricted stock units (PBRSUs). On March 31, 2026, 1,282.5 PBRSUs earned under a three-fiscal-year performance period converted into an equal number of common shares.
Miller also received a new grant of 1,522.5 PBRSUs and 1,522.5 common shares, all held directly. To cover tax liabilities, a total of 1,236.8232 common shares were withheld at $163.45 per share. After these transactions, he directly owned 11,542.1004 common shares, plus 5,494.735 common shares held indirectly through the KSOP.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,282.5 shares exercised/converted
Exercise
7 txns
Insider
Miller Matthew R
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | PBRSUs | 1,282.5 | $0.00 | $0.00 |
| Grant/Award | PBRSUs | 1,522.5 | $0.00 | $0.00 |
| Grant/Award | Common Shares | 1,522.5 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Shares | 668.4029 | $163.45 | $109K |
| Exercise | Common Shares | 1,282.5 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Shares | 568.4203 | $163.45 | $93K |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
PBRSUs — 1,522.5 contracts (Direct);
Common Shares — 11,542.1004 shares (Direct);
Common Shares — 5,494.735 shares (Indirect, KSOP)
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. 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.
- F3. The number of common shares reported as beneficially owned differs due to shares acquired under Park's employee stock ownership plan (the "KSOP").
Key Figures
PBRSUs converted: 1,282.5 PBRSUs
New PBRSU grant: 1,522.5 PBRSUs
Common shares awarded: 1,522.5 shares
+4 more
7 metrics
PBRSUs converted
1,282.5 PBRSUs
Converted one-for-one into common shares on March 31, 2026
New PBRSU grant
1,522.5 PBRSUs
Performance-based award vesting 50% one year after March 31, 2026
Common shares awarded
1,522.5 shares
Common shares acquired via grant/award on March 31, 2026
Shares withheld for taxes
1,236.8232 shares
Withheld at $163.45 per share to cover tax liability
Tax withholding price
$163.45 per share
Applied to 668.4029 and 568.4203 shares on March 31, 2026
Direct common shares held
11,542.1004 shares
Direct ownership after transactions on March 31, 2026
Indirect KSOP shares
5,494.735 shares
Common shares held indirectly through Park’s KSOP
Key Terms
PBRSUs, service-based vesting requirement, three-fiscal-year performance period, KSOP, +1 more
5 terms
PBRSUs financial
"performance-based restricted stock units ("PBRSUs") granted to the reporting person"
service-based vesting requirement financial
"PBRSUs earned based on the performance level achieved are also subject to a service-based vesting requirement"
three-fiscal-year performance period financial
"performance criteria for the three-fiscal-year performance period applicable to performance-based restricted stock units"
KSOP financial
"shares acquired under Park's employee stock ownership plan (the "KSOP")"
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did PRK President & CEO Matthew R. Miller report?
Matthew R. Miller reported equity compensation activity, not open-market trades. 1,282.5 PBRSUs converted into common shares, he received 1,522.5 new PBRSUs and 1,522.5 common shares, and 1,236.8232 shares were withheld to cover tax obligations at $163.45 per share.
What are PBRSUs in the Park National (PRK) Form 4 filing?
PBRSUs are performance-based restricted stock units that convert into common shares if performance goals are met. For Miller, 1,282.5 PBRSUs from a three-fiscal-year performance period converted one-for-one into Park common shares after the Executive Committee certified the performance achievement.
What performance period applied to Matthew R. Miller’s 2023 PBRSUs at Park National (PRK)?
The footnotes state that the 2023 PBRSUs were tied to a three-fiscal-year performance period. On March 31, 2026, the Executive Committee certified the level of achievement for that period, determining how many PBRSUs were earned and converted into Park common shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
