BAILEY DANIEL K 4
4 · TRICO BANCSHARES / · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
TRICO (TCBK) EVP Daniel K. Bailey Receives Awards, Exercises Shares
What Happened
Daniel K. Bailey, EVP & Chief Banking Officer of TRICO Bancshares (TCBK), received equity awards and completed a derivative exercise in late March 2026. On 2026-03-27 he was granted two awards totaling 7,794 units (3,897 RSUs and 3,897 PSUs). On 2026-03-30 he exercised/converted 1,267 derivative shares; 743 of those shares were withheld to pay tax withholding of $34,988 (withholding price reported as $47.09 per share on the vesting date).
Key Details
- Transaction dates: grants on 2026-03-27; exercise/vesting and tax withholding on 2026-03-30; Form 4 filed 2026-03-31. No late filing is indicated in the report.
- Grants: 2 awards of 3,897 units each (total 7,794 units). Per-footnote value on grant date was $48.12 (30-day average ending 3/27/2026). RSUs/PSUs reported as granted at $0.00 per unit (standard for RSU/PSU disclosures).
- Vesting/exercise: 1,267 shares were delivered/converted on 3/30/2026. Of those, 743 shares were withheld to satisfy tax withholding at $47.09/share totaling $34,988 (footnote F2).
- Footnotes: F1 — 33% vesting of an RSU award (including accumulated dividends) with vest price $47.09 on 3/30/2026. F3 — RSU vests 33.33% per year over three years; dividends reinvested. F4 — PSU is performance-based cliff vest after 3 years (0–150% payout vs. target based on relative TSR).
- Shares owned after the transactions: not disclosed in the provided filing details.
Context
This was an equity award vesting and related derivative exercise with shares withheld for taxes — a routine insider event rather than an open-market purchase or sale. The PSU portion has performance conditions (cliff vests after three years and may pay out 0–150% of target). The withholding of shares to cover taxes is common and does not by itself indicate a change in insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-30+1,267→ 59,370.41 total - Tax Payment
Common Stock
[F2]2026-03-30$47.09/sh−743$34,988→ 58,627.41 total - Award
Restricted Stock Unit
[F3]2026-03-27+3,897→ 10,818 total→ Common Stock (3,897 underlying) - Award
Performance Stock Unit
[F4]2026-03-27+3,897→ 16,173 total→ Common Stock (3,897 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1]2026-03-30−1,267→ 9,551 total→ Common Stock (1,267 underlying)
- 11,831.95(indirect: By ESOP)
Common Stock
Footnotes (4)
- [F1]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.
- [F2]Reflects shares withheld to pay toward tax liability.
- [F3]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).
- [F4]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.