Trico Bancshares (TCBK) EVP nets shares from PSU vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Trico Bancshares EVP and Chief Credit Officer Craig B. Carney reported routine equity compensation activity involving performance stock units and related tax withholding. On June 25, 2026, entries show the exercise of derivative awards covering 4,171 Performance Stock Units and a separate acquisition entry for 4,561 shares of Common Stock, both at a stated price of $0.00 per share. A related disposition of 2,675 Common Stock shares at $53.55 per share was recorded to cover tax liabilities.
Following these transactions, Carney’s reported direct Common Stock holdings are 40,688 shares in one entry and 43,363 shares in another, with additional indirect holdings of 9,898.03 shares through an ESOP and 166.27 shares held by his daughter. Footnotes state that the PSUs vested at 109.36% of target based on total stockholder return relative to the KBW Regional Banking Index.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,171 shares exercised/converted
Mixed
5 txns
Insider
CARNEY CRAIG B
Role
EVP Chief Credit Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Unit | 4,171 | $0.00 | -- |
| Exercise | Common Stock | 4,561 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,675 | $53.55 | $143K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Stock Unit — 10,705 shares (Direct, null);
Common Stock — 43,363 shares (Direct, null);
Common Stock — 9,898.03 shares (Indirect, By 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
Tax-withheld shares: 2,675 shares at $53.55
PSUs exercised: 4,171 units
Common shares acquired (M code): 4,561 shares
+5 more
8 metrics
Tax-withheld shares
2,675 shares at $53.55
Common Stock shares withheld toward tax liability
PSUs exercised
4,171 units
Performance Stock Units exercised into Common Stock
Common shares acquired (M code)
4,561 shares
Non-derivative M-code acquisition of Common Stock
Direct holdings (entry 1)
40,688 shares
Common Stock directly owned after F-code disposition
Direct holdings (entry 2)
43,363 shares
Common Stock directly owned after M-code acquisition
Indirect ESOP holdings
9,898.03 shares
Common Stock held indirectly through ESOP
Indirect holdings by daughter
166.27 shares
Common Stock held indirectly by daughter
PSU vesting percentage
109.36%
PSUs vested vs. target based on total stockholder return
Key Terms
Performance Stock Unit, tax liability, total stockholder return, KBW Regional Banking Index, +2 more
6 terms
Performance Stock Unit financial
"Performance Stock Unit, transaction_code "M", underlying security Common Stock"
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.
tax liability financial
"Reflects shares withheld to pay toward tax liability."
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.
ESOP financial
"total_shares_following_transaction 9898.0300, nature_of_ownership "By 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.
withheld to pay toward tax liability financial
"Reflects shares withheld to pay toward tax liability."
FAQ
What did TCBK executive Craig Carney report in this Form 4 filing?
Craig B. Carney, EVP and Chief Credit Officer of Trico Bancshares (TCBK), reported equity compensation activity. He exercised performance-based awards into common shares and had a portion of shares withheld to cover tax liabilities, reflecting routine compensation, not open-market buying or selling.
How many performance stock units vested for TCBK’s Craig Carney?
Carney exercised derivative awards covering 4,171 Performance Stock Units. A footnote explains each PSU could convert based on relative total stockholder return, and that the PSUs ultimately vested at 109.36% of the target number on the June 25, 2026 certification date.
How were TCBK’s performance stock units for Carney earned and measured?
The performance stock units vested based on Trico Bancshares’ total stockholder return versus the KBW Regional Banking Index. According to the footnote, the PSUs vested at 109.36% of the target amount determined from an initial grant reported on a prior Form 4.