Univest Financial (UVSP) COO updates holdings after RSU vesting, taxes
Rhea-AI Filing Summary
UNIVEST FINANCIAL Corp Senior EVP & COO Michael S. Keim reported multiple equity compensation transactions involving restricted stock units and common shares. On 2026-03-15, he exercised or settled 11,756 restricted and performance-based stock units into an equal number of common shares at a stated price of $0.0000 per unit.
Of the resulting common shares, 4,348 were disposed of at $32.7200 per share to cover tax obligations, while 1,786 common shares were cancelled based on performance evaluations after the measurement period. Following these transactions, he directly held 66,979.077 common shares, including 7,154.509 acquired through a dividend reinvestment plan.
Keim also received new awards of 2,826 restricted stock units and 6,588 performance-based restricted stock units. The time-based units vest in three equal annual installments starting on 2027-03-15, and each unit converts into one common share upon vesting. The performance-based units vest on the third anniversary of grant, with the actual shares awarded based on company performance over the three-year period, up to 150% of the 6,588 reported units.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,150 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,499 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,061 | $0.00 | -- |
| Exercise | Performance Restricted Stock Units | 8,046 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 2,826 | $0.00 | -- |
| Grant/Award | Performance Restricted Stock Units | 6,588 | $0.00 | -- |
| Exercise | Common | 1,150 | $0.00 | -- |
| Exercise | Common | 1,499 | $0.00 | -- |
| Exercise | Common | 1,061 | $0.00 | -- |
| Exercise | Common | 8,046 | $0.00 | -- |
| Other | Common | 1,786 | $0.00 | -- |
| Tax Withholding | Common | 4,348 | $32.72 | $142K |
Footnotes (1)
- REPRESENTS THE SETTLEMENT OF ONE SHARE OF COMMON STOCK UPON VESTING OF THE CORRESPONDING NUMBER OF RESTRICTED STOCK UNITS. INCLUDES 7,154.509 SHARES ACQUIRED THROUGH THE DIVIDEND REINVESTMENT PLAN. REPRESENTS THE SETTLEMENT OF ONE SHARE OF COMMON STOCK UPON VESTING OF THE CORRESPONDING NUMBER OF PERFORMANCE-BASED RESTRICTED STOCK UNITS. VESTED SHARES CANCELLED DUE TO EVALUATION OF PERFORMANCE FACTORS AFTER MEASUREMENT PERIOD. RESTRICTED STOCK UNITS VEST AT 33.33% PER YEAR FOR THREE YEARS COMMENCING WITH THE EXERCISABLE DATE INDICATED ASSUMING CONTINUED EMPLOYMENT THROUGH THE VESTING DATE. EACH RESTRICTED STOCK UNIT REPRESENTS A CONTINGENT RIGHT TO RECEIVE ONE SHARE OF COMMON STOCK UPON VESTING OF THE UNIT. THE PERFORMANCE-BASED RESTRICTED STOCK UNITS VEST ON THE THIRD ANNIVERSARY OF THE DATE OF THE GRANT AT WHICH POINT THE ACTUAL NUMBER OF SHARES TO BE AWARDED WILL BE DETERMINED BASED ON THE PERFORMANCE OF THE COMPANY DURING THE THREE YEAR PERIOD. THE RECIPIENT MAY RECEIVE UP TO 150% OF THE REPORTED RESTRICTED STOCK UNITS.
