SMITH RICHARD P 4

What Happened

• Richard P. Smith, CEO, President and Director of Trico Bancshares (TCBK), received equity awards and had a prior RSU award vest. On 2026-03-27 he was granted two equity awards (9,969 units each): one time-vesting RSU grant and one performance-based PSU grant (target units). On 2026-03-30, 3,808 shares from a prior RSU award vested (33% vesting), and 2,233 of those vested shares were withheld to pay taxes, valued at $47.09 per share for a tax-withholding value of $105,152. Net delivered shares from the vesting were 1,575 (3,808 vested − 2,233 withheld).
• The new grants were valued at $48.12 per unit on the grant date (30-day average ending 3/27/2026). At that per-unit value, each 9,969-unit grant is roughly $480k at target (combined target value roughly $960k), though PSUs pay out from 0%–150% of target depending on performance.

Key Details

• Transaction dates: Grants on 2026-03-27; RSU vesting and tax withholding on 2026-03-30. Filing date: 2026-03-31 (timely).
• Prices noted: Vesting price used for tax withholding = $47.09/share (3/30/2026). Grant per-unit value = $48.12 (30-day average).
• Shares vested: 3,808 from a prior RSU award; shares withheld for taxes: 2,233 (F2), tax withholding proceeds reported as $105,152.
• Grants: 9,969 RSUs that vest 33.33% per year over three years (F3); 9,969 PSUs that cliff-vest after three years at 0%–150% of target based on relative TSR (F4).
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: filing appears timely (filed 2026-03-31).

Context

• The 3,808-share entry reflects RSU vesting (conversion of restricted units into common shares). Withholding of 2,233 shares to cover tax liability is a routine, non-cashless method to satisfy withholding obligations and is common in RSU vesting events.
• The PSU grant is performance-based and may pay out at a range (0%–150%) after a three-year performance period, so its eventual share count/value is uncertain.
• These entries are awards and vesting events (not open-market purchases or discretionary sales); awards and withholding generally reflect compensation practices rather than an immediate bullish or bearish trade signal.