[Form 4] Triumph Financial, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Beasley Broadcast Group (BBGI) Form 4: CEO, Director and 10% owner Caroline Beasley reported the vesting/exercise of 5,000 Restricted Stock Units (RSUs) on 30 June 2025 (transaction code M). Each RSU converts into one share of Class A common stock at no cash cost, increasing her direct shareholding to 35,790 shares. No shares were sold, and 10,000 unvested RSUs remain outstanding, scheduled to vest in three equal annual tranches beginning 30 June 2025. The filing signals continued insider equity alignment but represents a routine, compensation-related transaction rather than an open-market purchase.

Positive

• CEO increased direct ownership by 5,000 shares, with no concurrent sales, modestly improving management–shareholder alignment.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine RSU vesting boosts CEO’s stake by 5k shares; limited market impact.

The transaction stems from an equity compensation plan, not discretionary buying, so it carries neutral governance implications. Still, the absence of sales and the retention of shares marginally enhances alignment between management and shareholders. The remaining 10,000 unvested RSUs provide ongoing retention incentives. Overall, the event is typical for executive compensation cycles and does not alter control dynamics or capital structure.

Portfolio Manager

TL;DR: Minor insider acquisition; informational value low for trading decisions.

Because the shares were received through automatic vesting, the filing lacks the positive signaling often associated with voluntary open-market buys. Liquidity impact is negligible at just 5,000 shares. I view the disclosure as not materially impactful for valuation or near-term price action but note the CEO now holds roughly 36k shares directly, reinforcing a modest alignment of interests.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sparks C Todd

(Last) (First) (Middle)

12700 PARK CENTRAL DRIVE

SUITE 1700

(Street)

DALLAS TX 75251

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Triumph Financial, Inc. [ TFIN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2025		A		613(1)	A	$0(1)	49,499	D
Common Stock								5,959	I	By Spouse(2)
Common Stock								122,119	I	By SBS Equity, LLC(2)
Common Stock								4,000	I	C. Todd Sparks FLP(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of Common Stock of Issuer granted to the reporting person under Issuer's 2014 Omnibus Incentive Plan. All of such shares were fully vested as of the date of grant.

2. Reporting person exercises voting and dispositive control over these shares and disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest.

Remarks:

	/s/ Adam D. Nelson, Attorney-in-fact	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many BBGI shares did CEO Caroline Beasley acquire on 30 June 2025?

She acquired 5,000 Class A common shares through the vesting of Restricted Stock Units.

What is Caroline Beasley’s total direct BBGI shareholding after the transaction?

Her direct ownership rose to 35,790 shares following the RSU conversion.

Were any BBGI shares sold in this Form 4 filing?

No. The filing shows only an acquisition from RSU vesting; there were no sales.

How many RSUs does the CEO still hold after this transaction?

She retains 10,000 unvested RSUs, scheduled to vest in three equal annual instalments starting 30 June 2025.

Does the transaction indicate an open-market purchase?

No. The code "M" denotes an exercise/settlement of derivative securities (RSUs), not a market buy.