Schramm Jude 4
Research Summary
AI-generated summary
Fifth Third (FITB) EVP Jude Schramm Receives Awards; Shares Withheld
What Happened
Jude Schramm, Executive Vice President & Chief Investment Officer of Fifth Third Bancorp (FITB), received equity awards and had shares withheld to satisfy tax liabilities. On February 18, 2026 Schramm was granted two awards totaling 36,173 shares (14,496 and 21,677) at no cost (awards). Also on February 18, 2026, 9,517 shares were disposed/withheld at $52.86 per share to cover tax obligations, a withholding value of approximately $503,069. These grants include performance shares that vested on February 18, 2026 and restricted stock units that vest over three years.
Key Details
- Transaction date: 2026-02-18 (reported on Form 4 filed 2026-02-19 — timely filing).
- Grants: 14,496 RSUs (no consideration) and 21,677 award shares (no consideration).
- Tax-related disposition: 9,517 shares withheld at $52.86/sh = ~$503,069 (coded F: tax withholding/payment).
- Vesting/vesting schedule notes: performance shares vested on 2/18/2026; RSUs vest in three equal annual installments beginning one year after grant.
- Shares owned after transaction: not specified in the excerpt of the filing.
- Footnotes: awards under Fifth Third Incentive Compensation Plan; F4 confirms shares withheld for taxes upon vesting.
Context
This filing reflects equity awards and routine tax withholding on vested performance shares — not an open-market sale or purchase. The 9,517-share disposition is a withholding to cover taxes (common with vested awards), not a directional trade signal.