Bailey Carolyn 4

What Happened

• Carolyn Bailey, a director of Third Coast Bancshares (TCBX), exercised 2,000 stock options on 2026-02-09. The exercise reflected an aggregate exercise amount of $32,860 (2,000 shares at $16.43).
• To cover the exercise price/tax liability, the issuer withheld 760 of the newly issued shares valued at $43.29 each (760 shares × $43.29 = $32,900). After withholding, Bailey received a net 1,240 shares (2,000 exercised − 760 withheld). The filing also records the derivative conversion associated with the option exercise.

Key Details

• Transaction date: 2026-02-09; Form 4 filed: 2026-02-11 (timely filing).
• Exercise details: 2,000 options exercised at $16.43 per share (aggregate $32,860).
• Withholding/disposition: 760 shares withheld at $43.29 per share to cover exercise price/tax liability (aggregate ~$32,900) — footnote F1 confirms withholding to pay the exercise price on 2,000 options expiring Jan 1, 2031.
• Net shares received: 1,240 shares.
• Shares owned after transaction: not specified in the provided filing.
• Transaction codes: M = option exercise/conversion; F = shares withheld to pay exercise price/tax.

Context

• This was an option exercise with a partial "cashless" settlement (issuer withheld shares to cover the exercise rather than the insider paying cash). The withheld shares were used to satisfy the exercise price/tax liability — no open-market sale by the insider is shown beyond that withholding.
• Option exercises are routine insider transactions that increase an insider’s shareholding but don’t necessarily indicate new cash invested in the company like an open-market purchase.