Harrison Karen 4
4 · BANNER CORP · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Banner Corp (BANR) Exec VP Karen Harrison Receives RSU Awards
What Happened
Karen Harrison, Executive Vice President of Banner Corp (BANR), received three restricted stock unit (RSU) awards on April 1, 2026 totaling 5,173 RSUs valued at about $317,622 (5,173 x $61.40). On the same date 318 shares were relinquished to cover tax withholding obligations (183 and 135 shares) with reported values of $11,225 and $8,281 respectively (price reported $61.34). The awards were reported as grants (transaction code A); the share relinquishments are tax-withholding disposals (transaction code F).
Key Details
- Transaction date(s): April 1, 2026; Form 4 filed April 2, 2026 (appears timely).
- Grant details: 1,397 RSUs ($85,776), 2,095 RSUs ($128,633), and 1,681 RSUs ($103,213) — total 5,173 RSUs valued at ~$317,622 using $61.40.
- Tax withholding: 183 shares ($11,225) and 135 shares ($8,281) surrendered to satisfy tax obligations (total 318 shares).
- Shares owned after transactions: Not specified in the provided filing excerpt.
- Footnotes / vesting: Awards are RSUs under Banner’s 2023 Omnibus Incentive Plan and are subject to vesting and forfeiture; some awards vest ratably over three years, some over one year, and some are performance-based (vesting tied to 2026–2028 performance goals). The withheld shares relate to tax obligations on prior restricted stock vesting under the 2018 plan.
- Transaction codes: A = Award/Grant (new RSUs); F = disposal for tax withholding. No 10b5-1 plan or late-filing indication in the filing.
Context
These transactions are equity compensation (RSU grants) rather than open-market purchases or sales. RSUs represent the right to receive shares upon vesting and are common executive compensation; withholding of shares to cover taxes is a routine administrative step and does not necessarily indicate a change in the insider’s market view. Performance-based awards will only convert to shares if specified goals are met.
Insider Transaction Report
- Award
Common Stock, $0.01 par value per share
[F1][F2]2026-04-01$61.40/sh+1,397$85,776→ 10,339 total - Award
Common Stock, $0.01 par value per share
[F3][F2]2026-04-01$61.40/sh+2,095$128,633→ 12,434 total - Award
Common Stock, $0.01 par value per share
[F4][F2]2026-04-01$61.40/sh+1,681$103,213→ 14,115 total - Tax Payment
Common Stock, $0.01 par value per share
[F5][F6]2026-04-01$61.34/sh−183$11,225→ 13,932 total - Tax Payment
Common Stock, $0.01 par value per share
[F7][F6]2026-04-01$61.34/sh−135$8,281→ 13,797 total
Footnotes (7)
- [F1]Represents award pursuant to 2023 Omnibus Incentive Plan; shares vest ratably over a three-year period beginning on April 1, 2026 and ending on the third anniversary thereof. Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock upon vesting. These restricted stock units are subject to forfeiture and to limits on transferability until they vest.
- [F2]Closing price on April 1, 2026.
- [F3]Represents award pursuant to 2023 Omnibus Incentive Plan and is subject to the achievement of specified corporate and individual performance goals over a period that began on January 1, 2026 and ends on December 31, 2028. The extent to which the award vests, if at all, depends on the extent to which the performance goals are satisfied. Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock upon vesting. These restricted stock units are subject to forfeiture and to limits on transferability until they vest.
- [F4]Represents award pursuant to 2023 Omnibus Incentive Plan; shares vest over a one-year period beginning on April 1, 2026 and ending on the first anniversary thereof. Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock upon vesting. These restricted stock units are subject to forfeiture and to limits on transferability until they vest.
- [F5]Shares relinquished to cover tax obligations on vesting of 567 shares of restricted stock pursuant to the 2018 Omnibus Incentive Plan.
- [F6]Market price on April 1, 2026.
- [F7]Shares relinquished to cover tax obligations on vesting of 418 shares of restricted stock pursuant to the 2018 Omnibus Incentive Plan.