BAILEY DANIEL K 4

What Happened

• Daniel K. Bailey, EVP & Chief Banking Officer of TRICO Bancshares (TCBK), reported the vesting/conversion of performance-based restricted units (PSUs) that resulted in the issuance/conversion of shares on June 25, 2026. The filing shows 4,782 shares acquired on conversion of derivatives (PSUs).
• To satisfy tax withholding, 2,804 shares were withheld/sold at $53.55 per share, generating $150,154. The filing also reports 4,373 shares in a derivative-related disposition listed with $0 proceeds (reported as a derivative conversion entry).

Key Details

• Transaction date: June 25, 2026; Form 4 filed June 29, 2026 (appears filed after the usual two-business-day window).
• Entries reported: 4,782 shares acquired (exercise/conversion, code M); 2,804 shares withheld/disposed for taxes at $53.55 each (code F) totaling $150,154; 4,373 shares reported as a derivative disposition at $0 (code M).
• Footnotes: PSUs were performance-based and vested at 109.36% of target on certification (footnote F1). Footnote F2 confirms shares were withheld to cover tax liability.
• Shares owned after the transaction are not shown in the excerpt of the filing.

Context

• This was a settlement of performance-based awards (PSUs), not an open-market purchase or a voluntary sale. Withholding shares to cover taxes is a routine administrative step (a cashless-type settlement) and does not necessarily indicate insider selling for investment reasons.
• Derivative/option codes (M) indicate conversion/exercise of awards into shares; code F indicates shares withheld for taxes. The $0 proceeds line for certain derivative entries typically reflects reporting mechanics rather than a market sale.