Executive at Mechanics Bancorp (MCHB) receives 6,574-share RSU grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Mechanics Bancorp reported that EVP and Chief Credit Officer Scott A. Givans acquired 6,574 shares of Class A common stock through a grant of restricted stock units. These RSUs vest in three equal annual installments beginning on March 1, 2027, and require no cash payment when they vest.
After this award, Givans directly holds 38,137 shares of Mechanics Bancorp Class A common stock. The filing reflects routine equity-based compensation that increases his alignment with common shareholders over time as the RSUs vest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Givans Scott A.
Role
EVP & Chief Credit Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 6,574 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 38,137 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did Mechanics Bancorp (MCHB) report for Scott A. Givans?
Mechanics Bancorp reported that EVP and Chief Credit Officer Scott A. Givans received a grant of 6,574 restricted stock units. These RSUs convert into Class A common shares over time, representing equity-based compensation rather than an open-market stock purchase.
How many Mechanics Bancorp RSUs were granted to Scott A. Givans?
Scott A. Givans was granted 6,574 restricted stock units of Mechanics Bancorp Class A common stock. Each RSU represents the right to receive one share in the future, subject to vesting conditions described in the award terms and the Form 4 filing.
What is the vesting schedule for Scott A. Givans’ Mechanics Bancorp RSUs?
The 6,574 restricted stock units granted to Scott A. Givans vest in three equal annual installments starting March 1, 2027. This means one-third of the RSUs become shares each year over three years, assuming continued satisfaction of the vesting conditions.
Does Scott A. Givans have to pay for his Mechanics Bancorp RSUs when they vest?
No, Scott A. Givans does not have to pay any consideration when his restricted stock units vest. Each vested RSU entitles him to receive one share of Mechanics Bancorp Class A common stock without an exercise price or cash payment requirement.
Is the Mechanics Bancorp Form 4 for Scott A. Givans a stock purchase or compensation?
The Mechanics Bancorp Form 4 for Scott A. Givans reflects an equity compensation grant, not a market purchase. He received 6,574 restricted stock units at no cost, which will convert into Class A common shares over three years as they vest.