Univest Financial (UVSP) executive reports RSU vesting, grants and tax withholding
Rhea-AI Filing Summary
UNIVEST FINANCIAL Corp senior executive Megan D. Santana, Sr EVP, Chief Risk Officer and General Counsel, reported multiple stock-based compensation events on common shares. She exercised restricted stock units and performance-based restricted stock units into a total of 6,765 common shares, reflecting previously granted awards that vested.
On the same date, she received new grants of 1,692 restricted stock units and 3,946 performance-based restricted stock units, each representing a contingent right to one common share upon vesting. A total of 2,499 common shares were withheld at $32.72 per share to cover tax obligations, and 1,026 vested shares were cancelled after evaluation of performance factors.
Following these transactions, Santana directly owned 35,453.7595 common shares, including 13,403.7595 shares accumulated through the dividend reinvestment and employee stock purchase plans. The filing shows routine equity compensation activity rather than open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 661 | $0.00 | -- |
| Exercise | Restricted Stock Units | 863 | $0.00 | -- |
| Exercise | Restricted Stock Units | 621 | $0.00 | -- |
| Exercise | Performance Restricted Stock Units | 4,620 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 1,692 | $0.00 | -- |
| Grant/Award | Performance Restricted Stock Units | 3,946 | $0.00 | -- |
| Exercise | Common | 661 | $0.00 | -- |
| Exercise | Common | 863 | $0.00 | -- |
| Exercise | Common | 621 | $0.00 | -- |
| Exercise | Common | 4,620 | $0.00 | -- |
| Other | Common | 1,026 | $0.00 | -- |
| Tax Withholding | Common | 2,499 | $32.72 | $82K |
Footnotes (1)
- REPRESENTS THE SETTLEMENT OF ONE SHARE OF COMMON STOCK UPON VESTING OF THE CORRESPONDING NUMBER OF RESTRICTED STOCK UNITS. INCLUDES 13,403.7595 SHARES ACQUIRED THROUGH THE DIVIDEND REINVESTMENT PLAN AND EMPLOYEE STOCK PURCHASE 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.
