Veritex COO cashes out options, keeps 60k-share stake

Rhea-AI Filing Summary

Veritex Holdings (VBTX) – Form 4, filed 24 Jul 2025

• Chief Operating Officer LaVonda Renfro executed six option exercises on 22 Jul 2025, acquiring a total of 53,411 common shares at strike prices between $16.21 – $29.13.
• On the same day she sold the identical 53,411 shares in the open market at weighted-average prices of roughly $32.36 – $32.45 per share, generating an immediate cash gain and eliminating the corresponding option positions.
• Following the paired exercise-and-sale transactions, Renfro’s direct ownership remains 60,209 common shares; the reported option grants now show zero derivative securities outstanding.

No other classes of securities, indirect holdings, or joint filings were disclosed. The filing represents routine insider activity with no change to the executive’s equity stake in the company.

Positive

• Officer maintains 60,209 shares, preserving direct equity alignment with shareholders.
• Derivative overhang reduced; 53,411 options removed from potential dilution.

Negative

• 53,411 shares sold at ~$32.4, representing insider monetization of gains.
• No net increase in insider ownership, offering no additional confidence signal to investors.

Insights

Securities Analyst

TL;DR: COO exercised 53k options and immediately sold; stake unchanged at 60k shares—signal neutral, limited market impact.

The paired exercise-and-sale indicates a cashless transaction rather than portfolio rebalancing. Because Renfro’s direct holding remains constant, the filing neither increases insider ownership nor signals a reduction. Option positions tied to strikes as low as $16.21 are now closed, suggesting realization of built-in gains of roughly $3–16 per share. No new holdings or 10% thresholds were triggered. Given Veritex’s ~25 m share float, the volume (<0.25%) is immaterial. Overall, this is a routine liquidity event with minimal implication for valuation.

Corporate Governance Expert

TL;DR: Standard Section 16 report; cashless option exercise, no alarming governance red flags.

Form 4 complies with Section 16 timing requirements, signed via power of attorney. Weighted-average sale disclosures and remaining share count are properly footnoted. Retention of 60,209 shares preserves alignment with shareholders. Because the officer liquidated expiring options before 2026-2030 expirations, compensation design appears to incentivize performance while limiting overhang. I view the event as administratively routine, impact-neutral.

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).

1. Name and Address of Reporting Person^*

Renfro LaVonda

(Last) (First) (Middle)

C/O VERITEX HOLDINGS, INC.

8214 WESTCHESTER DRIVE, SUITE 800

(Street)

DALLAS TX 75225

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Veritex Holdings, Inc. [ VBTX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2025

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	07/22/2025		M		4,114	A	$16.21	64,323	D
Common Stock	07/22/2025		S		4,114	D	$32.4501	60,209	D
Common Stock	07/22/2025		M		3,500	A	$26.71	63,709	D
Common Stock	07/22/2025		S		3,500	D	$32.3898(1)	60,209	D
Common Stock	07/22/2025		M		4,727	A	$27.59	64,936	D
Common Stock	07/22/2025		S		4,727	D	$32.3811(2)	60,209	D
Common Stock	07/22/2025		M		7,902	A	$21.38	68,111	D
Common Stock	07/22/2025		S		7,902	D	$32.38	60,209	D
Common Stock	07/22/2025		M		20,000	A	$21.38	80,209	D
Common Stock	07/22/2025		S		20,000	D	$32.3649(3)	60,209	D
Common Stock	07/22/2025		M		13,168	A	$29.13	73,377	D
Common Stock	07/22/2025		S		13,168	D	$32.3679(4)	60,209	D

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
Employee Stock Option (right to buy)	$16.21	07/22/2025		M			4,114	(5)	01/01/2026	Common Stock	4,114	$16.21	0	D
Employee Stock Option (right to buy)	$26.71	07/22/2025		M			3,500	(5)	01/01/2027	Common Stock	3,500	$26.71	0	D
Employee Stock Option (right to buy)	$27.59	07/22/2025		M			4,727	(6)	01/01/2028	Common Stock	4,727	$27.59	0	D
Employee Stock Option (right to buy)	$21.38	07/22/2025		M			7,902	(5)	01/01/2029	Common Stock	7,902	$21.38	0	D
Employee Stock Option (right to buy)	$21.38	07/22/2025		M			20,000	(5)	01/01/2029	Common Stock	20,000	$21.38	0	D
Employee Stock Option (right to buy)	$29.13	07/22/2025		M			13,168	(5)	01/01/2030	Common Stock	13,168	$29.13	0	D

Explanation of Responses:

1. Reflects the weighted average sales price for the reported transactions. The shares were sold in multiple transactions at prices ranging from $32.385 to $32.3912, inclusive.

2. Reflects the weighted average sales price for the reported transactions. The shares were sold in multiple transactions at prices ranging from $32.37 to $32.387, inclusive.

3. Reflects the weighted average sales price for the reported transactions. The shares were sold in multiple transactions at prices ranging from $32.36 to $32.39, inclusive.

4. Reflects the weighted average sales price for the reported transactions. The shares were sold in multiple transactions at prices ranging from $32.36 to $32.40, inclusive.

5. Grant has a graded vesting schedule. Date exercisable will vary for each vesting tranche.

6. Grant vest on January 1, 2019.

Remarks:

	/s/ C. Malcolm Holland, III, by power of attorney	07/24/2025
	** 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 Veritex (VBTX) shares did COO LaVonda Renfro sell on 22 Jul 2025?

She sold 53,411 common shares after exercising options.

What were the strike prices of the exercised options?

Strike prices ranged from $16.21 to $29.13 per share.

How many VBTX shares does Renfro still own after the transactions?

She continues to hold 60,209 common shares directly.

Are any derivative securities remaining after the Form 4 filing?

No. All six reported option grants now show zero remaining derivative securities.

At what prices were the shares sold?

Weighted-average sale prices were approximately $32.36 – $32.45, detailed in footnotes 1-4.