Costa James M 4

What Happened James M. Costa, Executive Vice President of Banner Corporation (BANR), was granted restricted stock units (RSUs) totaling 9,930 shares on April 1, 2026 — 3,972 RSUs valued at $61.40 each ($243,881) and 5,958 RSUs at $61.40 each ($365,821). On the same date he relinquished (disposed) 307 and 290 shares (total 597) to satisfy tax withholding obligations at $61.34 per share (total ~$36,620). The grants are reported as awards (code A); the relinquishments are tax-withholding disposals (code F).

Key Details

• Transaction dates: April 1, 2026 (reported on Form 4 filed April 2, 2026) — filing appears timely.
• Grant prices/values: 3,972 RSUs @ $61.40 = $243,881; 5,958 RSUs @ $61.40 = $365,821; total ≈ $609,702.
• Shares surrendered for taxes: 307 @ $61.34 = $18,831 and 290 @ $61.34 = $17,789; total ≈ $36,620.
• Shares owned after transaction: Not disclosed in the filing.
• Notable footnotes:
  • One RSU award vests ratably over three years beginning April 1, 2026 (subject to forfeiture until vested).
  • The other RSU award is performance-based, with vesting tied to corporate and individual goals for 2026–2028.
  • The disposals are recorded as shares relinquished to cover tax obligations (tax-withholding).
• Transaction codes: A = Award/Grant, F = Tax withholding/disposition.

Context RSUs are deferred equity awards that convert into shares if and when they vest; these are not open-market purchases and do not necessarily signal immediate bullish trading by the insider. The performance-based portion will only vest to the extent performance goals are met during the specified period. The tax-related share relinquishments are a common administrative step when awards vest.