[Form 4] PARK NATIONAL CORP /OH/ Insider Trading Activity
Rhea-AI Filing Summary
Park National Corporation Chief Financial Officer Brady T. Burt reported equity compensation activity tied to performance-based restricted stock units (PBRSUs). On the 2023 PBRSU Certification Date, 1,132.5 PBRSUs converted into an equal number of common shares after performance goals were certified for the three-fiscal-year period.
Burt also received a new grant of 1,072.5 PBRSUs and 1,072.5 common shares upon satisfaction of a service-based vesting requirement. To cover tax liabilities, 475.6472 and 507.9465 common shares were withheld at a price of $163.45 per share. Following these transactions, he directly holds 12,593.4305 common shares, with an additional 9,005.637 common shares held indirectly through Park’s KSOP employee stock ownership plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | PBRSUs | 1,132.5 | $0.00 | -- |
| Grant/Award | PBRSUs | 1,072.5 | $0.00 | -- |
| Grant/Award | Common Shares | 1,072.5 | $0.00 | -- |
| Tax Withholding | Common Shares | 475.647 | $163.45 | $78K |
| Exercise | Common Shares | 1,132.5 | $0.00 | -- |
| Tax Withholding | Common Shares | 507.947 | $163.45 | $83K |
| holding | Common Shares | -- | -- | -- |
Footnotes (1)
- Effective March 31, 2026 (the "2023 PBRSU Certification Date"), the Executive Committee of the Board of Directors of Park National Corporation ("Park") certified the level of achievement with respect to the performance criteria for the three-fiscal-year performance period applicable to performance-based restricted stock units ("PBRSUs") granted to the reporting person effective January 18, 2023. The PBRSUs convert into Park common shares on a one-for-one basis. The PBRSUs earned based on the performance level achieved are also subject to a service-based vesting requirement with 50% vesting (resulting in the right to receive the number of common shares shown in the first row in Table I) on the 2023 PBRSU Certification Date and the other 50% to vest on the first anniversary of the 2023 PBRSU Certification Date (shown in the second row in Table II as a derivative security). These common shares of Park were acquired upon the satisfaction of a service-based vesting requirement whereby PBRSUs were converted into Park common shares on a one-for-one basis. The number of common shares reported as beneficially owned differs due to shares acquired under Park's employee stock ownership plan (the "KSOP").
