Banner Corp (BANR) EVP Scott S. Newman Surrenders 69 Shares for Taxes

What Happened Scott S. Newman, Executive Vice President at Banner Bank (Banner Corp, ticker BANR), relinquished 69 shares on July 31, 2026 to cover tax obligations tied to the vesting of 280 restricted shares under the 2023 Omnibus Incentive Plan. The shares were valued at $69.87 each, for a total value of approximately $4,821. Net of the withholding, Newman received 211 restricted shares (280 vested - 69 withheld). This was a tax-withholding share surrender, not an open-market sale.

Key Details

• Transaction date: 2026-07-31; Form 4 filed: 2026-08-03.
• Price used: $69.87 per share (market price on 7/31/2026).
• Shares relinquished: 69; vested restricted shares: 280; net shares retained from the vesting: 211.
• Transaction code: F (tax withholding / shares surrendered to cover tax liability).
• Total value of shares surrendered: ~$4,821.
• Shares owned after the transaction: not specified in this Form 4.
• Footnotes: F1 confirms shares were withheld to cover tax on vesting under the 2023 Omnibus Incentive Plan; F2 notes the market price used.
• Filing timeliness: Form filed 3 days after the transaction date; the filing shows this transaction but does not indicate a late-filing flag in the report.

Context Share withholding to cover taxes on vested restricted stock is a routine administrative action and does not typically signal insider sentiment about the stock. This was not an open-market sale — the company retained shares to satisfy tax obligations and the insider kept the remaining vested shares. Purchases or open-market sales generally carry more interpretive weight for investors than routine tax withholdings.