Farnsworth David F 4
Research Summary
AI-generated summary
CVB Financial EVP David Farnsworth Receives 9,547 Shares (PRSU Vest)
What Happened
- David F. Farnsworth, EVP & Chief Credit Officer of CVB Financial Corp. (CVBF), received 9,547 shares on 2026-03-16 as the result of vested Performance Stock Units (PRSUs). The award is reported as an acquisition (code A) at $0.00 (compensation award).
- To satisfy tax withholding on the vested PRSUs, 3,426 shares were withheld/disposed (code F) at $19.00 per share, totaling $65,111 paid for taxes. This is a routine vesting and tax-withholding transaction, not an open-market purchase or sale for investment purposes.
Key Details
- Transaction date reported: 2026-03-16; Form 4 filed 2026-03-18 (reporting appears timely).
- Award: 9,547 PRSU shares acquired at $0.00 (F1: vesting of PRSUs granted 1/25/2023 after performance conditions were met).
- Tax withholding: 3,426 shares withheld at $19.00 each for $65,111 (F2: withholding of vested PRSU shares to pay taxes).
- Shares owned after the transaction: not disclosed in the filing.
- Transaction codes: A = Award/Grant/Acquisition; F = Tax withholding (share surrender).
Context
- This filing documents compensation vesting (PRSUs) and withholding to cover taxes — a common, routine corporate compensation event. It does not indicate an independent purchase or sale intended as a market signal.
- For retail investors, purchases by insiders are generally considered more informative than routine vesting or tax-related disposals.