Quinlan Michael T Jr 4

What Happened

• Michael T. Quinlan Jr., EVP of Retail Banking at City Holding Co. (CHCO), had 170 restricted stock units convert into 170 shares on February 23, 2026. The Form 4 reports an "exercise/conversion of derivative (M)" showing 170 shares acquired at $0.00 (total value $0).
• The filing also shows a matching 170-share "disposed" entry at $0.00 for the derivative — this reflects the termination/conversion of the RSU derivative when the underlying shares were issued.
• This was not a market purchase or sale; it was the settlement of an award (RSU vesting), so it’s a routine compensation event rather than an open-market trade.

Key Details

• Transaction date: 2026-02-23; Form 4 filed 2026-02-24 (timely).
• Price per share: $0.00; aggregate cash value reported: $0.
• Shares owned after transaction: not disclosed in the provided extract.
• Relevant footnotes:
  • F1: Shares received for no consideration upon vesting and after satisfying a two-year holding period.
  • F3: Each restricted stock unit converts to one share.
  • F7: These RSUs were scheduled to vest one-third on Feb 23, 2025; one-third on Feb 23, 2026; and one-third on Feb 23, 2027 (the Feb 23, 2026 tranche vested).
• Transaction code: M (exercise/conversion of a derivative instrument, here RSUs).

Context

• This was a vesting/settlement of compensation awards, not a purchase or sale in the open market — such events are typically routine and reflect compensation terms rather than a direct insider view on the stock.
• The dual “acquired” and “disposed” entries are a technical reporting result when a derivative award (RSU) is converted into underlying shares at vesting.