Stallings-linked fund buys 40K TCBI preferred shares
Texas Capital Bancshares director-related entity SCG Ventures LP reported open-market purchases of a total of 40,000 Depositary Shares for Series B Preferred Stock.
Rhea-AI Filing Summary
Texas Capital Bancshares director-related entity SCG Ventures LP reported open-market purchases of a total of 40,000 Depositary Shares for Series B Preferred Stock. The buys occurred on February 23 and 24 at average prices of about $22.14 and $22.26 per Depositary Share.
Each Depositary Share represents a 1/40th interest in the company’s 5.75% fixed rate non-cumulative perpetual preferred stock, Series B. Following these transactions, SCG Ventures LP was reported as indirectly holding 355,913 Depositary Shares, and other indirect and direct holdings in common and preferred stock were also reported.
Positive
- None.
Negative
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Insider Trade Summary
Net Buyer: 40,000 shares
Net Buy
6 txns
Insider
STALLINGS ROBERT W
Role
Director
Bought
40,000 shs ($888K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Depositary Shares for Series B Preferred Stock | 20,000 | $22.26 | $445K |
| Purchase | Depositary Shares for Series B Preferred Stock | 20,000 | $22.14 | $443K |
| holding | Common Stock | -- | -- | -- |
| holding | Depositary Shares for Series B Preferred Stock | -- | -- | -- |
| holding | Depositary Shares for Series B Preferred Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Depositary Shares for Series B Preferred Stock — 355,913 shares (Indirect, SCG Ventures LP);
Common Stock — 90,039 shares (Indirect, SCG Ventures LP);
Depositary Shares for Series B Preferred Stock — 60,000 shares (Indirect, Stallings Foundation);
Depositary Shares for Series B Preferred Stock — 84,587 shares (Direct);
Common Stock — 289,961 shares (Direct)
Footnotes (5)
- F1. Each Depositary Share represents a 1/40th interest in a share of the issuer's 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, par value $.01 per share.
- F2. The stated price represents the average based on prices ranging from $22.12 to $22.15. Upon request from the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price will be provided.
- F3. SCG Ventures LP is owned by the RWS Investment Trust (49.5%), the LES Investment Trust (49.5%) and Stallings Management LLC (1%), its general partner. Stallings Management LLC is owned by Mr. and Mrs. Stallings (100%).
- F4. The stated price represents the average based on prices ranging from $22.105 to $22.36. Upon request from the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price will be provided.
- F5. The Stallings Foundation is a charitable foundation of which Mr. Stallings is an officer.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did TCBI disclose for Robert W. Stallings?
Texas Capital Bancshares disclosed that an entity associated with director Robert W. Stallings, SCG Ventures LP, purchased 40,000 Depositary Shares for Series B Preferred Stock in open-market transactions, spread over February 23 and 24, at prices slightly above $22 per Depositary Share.
Who is SCG Ventures LP in relation to TCBI director Robert W. Stallings?
SCG Ventures LP is an investment entity tied to trusts and Stallings Management LLC, which is owned by Mr. and Mrs. Stallings. The Form 4 reports indirect ownership for Stallings through SCG Ventures LP, reflecting his associated interest in the purchased Depositary Shares.
What preferred security of Texas Capital (TCBI) is involved in this Form 4?
The Form 4 involves Depositary Shares for Texas Capital’s 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. Each Depositary Share represents a 1/40th interest in one share of this Series B preferred stock, effectively fractionalizing the preferred interest.
What are Robert W. Stallings’ reported indirect holdings in TCBI after these trades?
After the reported purchases, SCG Ventures LP is shown holding 355,913 Depositary Shares for Series B Preferred Stock indirectly for Stallings. Additional indirect holdings include 90,039 common shares and 60,000 Series B Depositary Shares held by The Stallings Foundation, alongside separate direct holdings.
Does The Stallings Foundation hold Texas Capital (TCBI) securities?
Yes. The Form 4 reports 60,000 Depositary Shares for Series B Preferred Stock held indirectly through The Stallings Foundation, a charitable foundation where Robert W. Stallings serves as an officer, indicating another vehicle through which TCBI preferred interests are held.
AI-generated analysis. How Rhea-AI works. Not financial advice.
