CVB Financial (NASDAQ: CVBF) CEO gets stock grant, shares withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CVB Financial Corp President & CEO David A. Brager reported routine equity compensation activity. He received 30,149 shares of common stock on a grant/award basis at $0.00 per share, reflecting the vesting of performance stock units granted on January 25, 2023.
On the same date, 15,072 shares of vested stock were withheld at $19.005 per share to cover tax obligations, a non-market disposition. After these transactions, Brager directly holds 245,493 shares of CVB Financial common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Brager David A.
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 30,149 | $0.00 | -- |
| Tax Withholding | Common Stock | 15,072 | $19.005 | $286K |
Holdings After Transaction:
Common Stock — 260,565 shares (Direct)
Footnotes (1)
- Satisfaction of vesting conditions for Performance Stock Units ("PRSU") granted on 1/25/2023 based on performance conditions being met. Withholding of shares of PRSU vested on 1/25/2026 to pay for taxes due on vested amount.
FAQ
What insider transactions did CVB Financial (CVBF) CEO David Brager report?
David A. Brager reported a routine equity compensation event. He received 30,149 shares of CVB Financial common stock through a grant/award and had 15,072 of those shares withheld to cover taxes upon vesting of performance stock units.
Were the CVB Financial (CVBF) CEO’s transactions open-market buys or sells?
No, these were not open-market trades. The “A” code transaction was a grant/award acquisition tied to vesting performance stock units, and the “F” code transaction was shares withheld for taxes, not a discretionary market sale or purchase.
What do transaction codes A and F mean in the CVB Financial (CVBF) Form 4?
Code “A” indicates a grant, award, or other acquisition, here reflecting vested performance stock units becoming shares. Code “F” indicates shares withheld to pay an exercise price or tax liability, meaning the company retained shares to satisfy the CEO’s tax obligation.