Pinnacle Financial (PNFP) COO settles tax on RSU vesting with 7 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Pinnacle Financial Partners Chief Operating Officer Daniel Zachary Bishop reported a small tax-related share disposition. On this Form 4, 7 shares of common stock were withheld at $83.55 per share to cover tax withholding obligations tied to vesting restricted stock units and related dividends. After this transaction, he directly holds 33,186 shares of Pinnacle Financial Partners common stock, indicating the event is a routine compensation and tax-settlement matter rather than an open-market trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Bishop Daniel Zachary
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 7 | $83.55 | $584.85 |
Holdings After Transaction:
Common Stock — 33,186 shares (Direct)
Footnotes (1)
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Key Figures
Tax-withholding shares: 7 shares
Implied share value: $83.55 per share
Post-transaction holdings: 33,186 shares
3 metrics
Tax-withholding shares
7 shares
Shares withheld to cover tax obligations on RSU vesting
Implied share value
$83.55 per share
Price used for 7-share tax-withholding disposition
Post-transaction holdings
33,186 shares
COO’s direct common stock holdings after withholding
Key Terms
restricted stock units, tax withholding obligations, Form 4, tax-withholding disposition
4 terms
restricted stock units financial
"upon the vesting of certain restricted stock units and subsequent payment"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"These shares were withheld to pay tax withholding obligations upon the vesting"
Form 4 regulatory
"On this Form 4, 7 shares of common stock were withheld"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What insider transaction did Pinnacle Financial Partners (PNFP) report for its COO?
Pinnacle Financial Partners reported that COO Daniel Zachary Bishop had 7 common shares withheld to cover tax obligations. The shares were tied to vesting restricted stock units and associated dividends, making this a routine compensation-related withholding rather than an open-market trade.
What does the F transaction code mean in the PNFP COO’s Form 4?
The F transaction code indicates shares were used to pay an exercise price or tax liability. In this case, 7 Pinnacle Financial Partners shares were withheld to satisfy tax withholding obligations triggered by vested restricted stock units and dividends, rather than being sold on the open market.