Trico Bancshares (TCBK) CEO reports RSU vesting, tax withholding and new PSU grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TRICO BANCSHARES CEO & President Richard P. Smith reported routine equity compensation activity. On March 30, 2026, 3,808 Restricted Stock Units vested and were converted into common stock at a price of $47.09 per share, with 2,233 shares withheld to cover tax liabilities, leaving the remainder as newly owned shares.
On March 27, 2026, he received grants of 9,969 Restricted Stock Units and 9,969 Performance Stock Units, both tied to future vesting conditions and company performance. Following these transactions, he directly holds 279,727 common shares and also reports indirect holdings through an ESOP, an ESOP trustee position, and his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,808 shares exercised/converted
Mixed
8 txns
Insider
SMITH RICHARD P
Role
CEO & President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 3,808 | $0.00 | -- |
| Exercise | Common Stock | 3,808 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,233 | $47.09 | $105K |
| Grant/Award | Restricted Stock Unit | 9,969 | $0.00 | -- |
| Grant/Award | Performance Stock Unit | 9,969 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 27,058 shares (Direct);
Common Stock — 281,960 shares (Direct);
Performance Stock Unit — 47,119 shares (Direct);
Common Stock — 42,972.15 shares (Indirect, By ESOP)
Footnotes (1)
- 33% vesting of Restricted Stock Unit award, including accumulated dividends, granted on 3/28/2025. Price per share on vesting date (3/30/2026) was $47.09. Reflects shares withheld to pay toward tax liability. Represents a grant of Restricted Stock Unit (RSU) award which vests in 33.33% per year over three years. Cash dividends on RSUs are reinvested in shares of Issuers common stock at fair market value on date of dividend payment. Per unit value on date of grant was $48.12 (based on the 30-day average closing price of Issuers common stock ending 3/27/2026). Represents a grant of Performance-based restricted stock (PSU) award that cliff vests after 3 years between 0%-150% of the target number of shares (the number of shares listed in box 5) based on the Issuers total stockholder return relative to the KBW Regional Banking Index.
Key Figures
RSUs vested: 3,808 units
Shares withheld for taxes: 2,233 shares at $47.09
New RSU grant: 9,969 units
+5 more
8 metrics
RSUs vested
3,808 units
Restricted Stock Units converting to common stock on March 30, 2026
Shares withheld for taxes
2,233 shares at $47.09
Tax-withholding disposition on March 30, 2026
New RSU grant
9,969 units
Restricted Stock Unit award granted March 27, 2026
New PSU grant
9,969 units
Performance Stock Unit award that cliff vests after 3 years
Direct common shares
279,727 shares
Direct ownership after March 30, 2026 transactions
Indirect ESOP holding
42,972.1500 shares
Common stock held indirectly by ESOP as of March 27, 2026
Spouse indirect holding
277.0660 shares
Common stock held indirectly by spouse as of March 27, 2026
ESOP Trustee holding
1,113,794.0000 shares
Common stock reported as ESOP Trustee indirect holding
Key Terms
Restricted Stock Unit, Performance Stock Unit, tax liability, cliff vests, +2 more
6 terms
Restricted Stock Unit financial
"33% vesting of Restricted Stock Unit award, including accumulated dividends"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Performance Stock Unit financial
"Represents a grant of Performance-based restricted stock (PSU) award that cliff vests"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
tax liability financial
"Reflects shares withheld to pay toward tax liability."
cliff vests financial
"Performance-based restricted stock (PSU) award that cliff vests after 3 years"
ESOP financial
"Common Stock ... nature_of_ownership: By ESOP"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
total stockholder return financial
"based on the Issuers total stockholder return relative to the KBW Regional Banking Index."
Total stockholder return is the percentage gain or loss an investor would have experienced over a period from both changes in a stock’s price and any cash payouts such as dividends, assuming those payouts are reinvested in the stock. It matters because it shows the complete financial outcome of owning a share — like measuring both a house’s change in sale value and the rent you collected — and lets investors fairly compare performance across companies and time.
FAQ
What equity transactions did TCBK CEO Richard P. Smith report in this Form 4?
Richard P. Smith reported RSU vesting, tax withholding, and new equity grants. 3,808 Restricted Stock Units vested into common stock, 2,233 shares were withheld for taxes, and he received 9,969 RSUs plus 9,969 Performance Stock Units, all as part of compensation.
What new Restricted Stock Units did the TCBK CEO receive?
On March 27, 2026, the CEO received a grant of 9,969 Restricted Stock Units. These RSUs vest in roughly one-third increments annually over three years, with cash dividends reinvested into additional shares at fair market value on each dividend payment date.
What are the performance stock units (PSUs) granted to the TCBK CEO?
He received 9,969 Performance Stock Units that cliff vest after three years. The actual shares earned can range from 0% to 150% of this target, based on Trico Bancshares’ total shareholder return compared with the KBW Regional Banking Index over the performance period.
Does the TCBK CEO have indirect holdings in company stock?
Yes. In addition to his direct holdings, the CEO reports indirect ownership through an employee stock ownership plan (ESOP), an ESOP trustee position, and his spouse’s holdings, reflecting broader exposure to Trico Bancshares equity beyond his personal account.