Texas Capital (TCBI) CEO converts RSUs, withholds 1,446 shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Texas Capital Bancshares Chairman, President and CEO Rob C. Holmes reported equity compensation activity tied to restricted stock units. On 1,446 2024 restricted stock units, he exercised derivative securities into the same number of common shares at $0 per share, then had 1,446 common shares withheld at $97.63 per share to cover taxes related to early vesting upon becoming retirement eligible. Following these transactions, his directly held common stock position was 266,235 shares, and his remaining 2024 restricted stock units totaled 60,045 units, which vest on a 3-year cliff schedule.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,446 shares exercised/converted
Mixed
3 txns
Insider
Holmes Rob C
Role
Chairman, President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2024 Restricted Stock Units | 1,446 | $0.00 | -- |
| Exercise | Common Stock | 1,446 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,446 | $97.63 | $141K |
Holdings After Transaction:
2024 Restricted Stock Units — 60,045 shares (Direct);
Common Stock — 267,681 shares (Direct)
Footnotes (1)
- The reported transaction involved the withholding of 1,446 shares of stock issuable upon the early vesting of an equal number of restricted stock units to pay taxes associated with the reporting person becoming retirement eligible. The restricted stock units vest on a 3 year cliff vest schedule.
FAQ
What insider transaction did TCBI CEO Rob Holmes report on this Form 4?
Rob Holmes reported exercising 1,446 restricted stock units into 1,446 common shares and an immediate share withholding for taxes. The activity reflects equity compensation vesting mechanics rather than an open-market stock purchase or sale.
What are Rob Holmes’ TCBI common stock holdings after these transactions?
After the reported transactions, Rob Holmes directly owned 266,235 shares of Texas Capital common stock. This figure reflects his position following the 1,446-share tax-withholding disposition associated with the RSU vesting event.
What happens to the remaining 2024 restricted stock units for TCBI’s CEO?
Following the reported vesting and conversion, 60,045 2024 restricted stock units remain credited to the CEO. According to the disclosure, these restricted stock units vest on a 3-year cliff vesting schedule.
Why did the TCBI CEO’s restricted stock units vest early in this case?
The footnote explains that early vesting occurred because the CEO became retirement eligible. As a result, 1,446 restricted stock units vested, and an equal number of shares were withheld to satisfy related tax obligations.