TRICO BANCSHARES (TCBK) risk chief exercises PSUs, withholds stock for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TRICO BANCSHARES Chief Risk Officer Angela Tamara Rudd reported compensation-related stock activity involving performance stock units and related tax withholding. On June 25, 2026, 667 Performance Stock Units converted into 667 shares of common stock following vesting based on the company’s total stockholder return relative to the KBW Regional Banking Index, with the award vesting at 109.36% of the target level.
To cover tax obligations from this vesting, 235 common shares were disposed of at $53.55 per share through a tax-withholding disposition, rather than an open-market sale. After these transactions, Rudd held 5,499.2622 shares of common stock directly and 2,690.9300 shares indirectly through an ESOP, along with 2,557.0000 Performance Stock Units remaining outstanding.
Positive
- None.
Negative
- None.
Insider Trade Summary
667 shares exercised/converted
Mixed
4 txns
Insider
Rudd Angela Tamara
Role
Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Unit | 667 | $0.00 | -- |
| Exercise | Common Stock | 729 | $0.00 | -- |
| Tax Withholding | Common Stock | 235 | $53.55 | $13K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Stock Unit — 2,557 shares (Direct, null);
Common Stock — 5,734.262 shares (Direct, null);
Common Stock — 2,690.93 shares (Indirect, ESOP)
Footnotes (1)
- Vesting of performance-based stock unit (PSU). Each PSU represented the right to receive 0%-150% of the target number based on the Issuers total stockholder return, relative to the KBW Regional Banking Index (based on an initial grant of PSUs which was reported in the original Form 4 for this grant on 6/12/2023). PSUs vested at 109.36% on certification date June 25,2026. Reflects shares withheld to pay toward tax liability.
Key Figures
PSUs converted to common stock: 667 shares
Tax-withholding shares: 235 shares at $53.55
Direct common shares after transactions: 5,499.2622 shares
+3 more
6 metrics
PSUs converted to common stock
667 shares
Performance Stock Units exercised into common stock on June 25, 2026
Tax-withholding shares
235 shares at $53.55
Shares withheld to pay tax liability on PSU vesting
Direct common shares after transactions
5,499.2622 shares
Direct TCBK common stock holdings following June 25, 2026 activity
Indirect ESOP shares
2,690.9300 shares
Indirect ownership through ESOP after reported transactions
Remaining Performance Stock Units
2,557.0000 units
PSUs still outstanding after June 25, 2026 vesting
PSU vesting percentage
109.36%
Vesting vs target based on TSR vs KBW Regional Banking Index
Key Terms
Performance Stock Unit, ESOP, tax-withholding disposition, total stockholder return, +1 more
5 terms
Performance Stock Unit financial
"Performance Stock Unit (PSU). Each PSU represented the right to receive 0%-150% of the target number"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
ESOP financial
"total_shares_following_transaction: 2690.9300, direct_or_indirect: I, nature_of_ownership: ESOP"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
tax-withholding disposition financial
"transaction_action: tax-withholding disposition, transaction_code_description: 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.
total stockholder return financial
"based on the Issuers total stockholder return, relative to the KBW Regional Banking Index"
Total stockholder return is the percentage gain or loss an investor would have experienced over a period from both changes in a stock’s price and any cash payouts such as dividends, assuming those payouts are reinvested in the stock. It matters because it shows the complete financial outcome of owning a share — like measuring both a house’s change in sale value and the rent you collected — and lets investors fairly compare performance across companies and time.
KBW Regional Banking Index financial
"relative to the KBW Regional Banking Index (based on an initial grant of PSUs)"
An index that tracks the stock performance of publicly traded regional banks, providing a single-number view of how that segment of the banking industry is doing. Investors use it like a thermometer or speedometer to gauge the health, momentum and market sentiment for regional banks, to compare individual bank stocks or funds against the sector, and to help make portfolio or risk-allocation decisions.
FAQ
What did TCBK Chief Risk Officer Angela Rudd report in this Form 4?
Angela Rudd reported vesting of performance stock units into common shares and related tax withholding. 667 PSUs converted to stock, and 235 shares were withheld to pay taxes, reflecting routine compensation-related equity activity rather than an open-market trade.
How was the PSU vesting level for TCBK determined in Angela Rudd’s award?
Each PSU represented the right to receive 0%-150% of target shares based on total stockholder return versus the KBW Regional Banking Index. On the June 25, 2026 certification date, the PSUs vested at 109.36% of the target level, triggering the share issuance.