Brager David A. 4
Research Summary
AI-generated summary
CVB Financial CEO David Brager Receives Award, Withholds Shares
What Happened
- David A. Brager, President & CEO of CVB Financial Corp (CVBF), had performance stock units (PRSUs) vest on 2026-03-16. 30,149 shares were awarded (grant/acquisition code A, $0.00 price). To satisfy the tax withholding obligation related to the vesting, 15,072 of the vested shares were withheld/disposed at $19.00 per share, generating a tax payment value of $286,443 (code F).
Key Details
- Transaction date: 2026-03-16 (reported on Form 4 filed 2026-03-18).
- Award: 30,149 PRSUs vested (no cash paid for the award; price listed $0.00).
- Tax withholding/disposition: 15,072 shares withheld at $19.00 each = $286,443.
- Footnotes: F1 — Vesting satisfied for PRSUs granted 1/25/2023 based on performance. F2 — Shares withheld to pay taxes on the vested PRSUs.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Filing timeliness: Filed 2026-03-18 for a 2026-03-16 transaction; appears to meet the Form 4 two-business-day reporting requirement (timely).
Context
- This was not an open-market purchase or a voluntary sale; it reflects the vesting of previously granted performance awards and a routine withholding of shares to cover the related tax liability. Withholding of shares for taxes (code F) is common and does not necessarily indicate a change in the insider’s market view.