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TEXAS CAPITAL BANCSHARES INC/TX·4

Feb 4, 4:11 PM ET

STALLINGS ROBERT W 4

Research Summary

AI-generated summary

Updated

Texas Capital (TCBI) Director Robert W. Stallings Buys 4,115 Depositary Shares

What Happened

  • Robert W. Stallings, a director of Texas Capital Bancshares (TCBI), reported open-market purchases of depositary shares tied to the issuer's Series B preferred. He acquired 515 depositary shares on 2026-02-02 at $20.97 each (≈ $10,800) and 3,600 depositary shares on 2026-02-03 at an average price of $21.10 each (≈ $75,960), for a total of 4,115 depositary shares and about $86,760 invested. These transactions are purchases (code P), which are generally regarded as insider buys rather than sales.

Key Details

  • Transaction dates and prices:
    • 2026-02-02: 515 depositary shares at $20.97 (≈ $10,800).
    • 2026-02-03: 3,600 depositary shares at an average price of $21.10 (range $21.06–$21.25 per filing footnote) (≈ $75,960).
  • Each depositary share represents a 1/40th interest in a share of the issuer's 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (Footnote F1).
  • Footnotes of note:
    • F2 describes ownership structure of SCG Ventures LP (controlled by trusts and Stallings Management LLC) — indicating entity/affiliated ownership relationships.
    • F3 explains the Feb 3 price is an average; per-share breakdown available on request.
    • F4 identifies the Stallings Foundation as a charitable foundation of which Mr. Stallings is an officer.
  • Shares owned after the transactions are not stated in the provided summary of the filing.
  • Filing timeliness: Report filed 2026-02-04 for transactions on Feb 2–3; this appears timely (filed within reporting window), and no late-filing flag is indicated.

Context

  • These purchases were of depositary shares tied to preferred stock (not common shares). Depositary shares represent fractional interests in preferred shares (1/40th per footnote), so the reported counts are of those fractional-depositary units.
  • Purchases by directors can be interpreted by some investors as a positive signal, but filings are factual disclosures and do not state motivation. The filing includes entity ownership footnotes suggesting some shares may be held through affiliated entities or foundations.