Butler Ronald David II 4

What Happened

• Ronald David Butler II, Chief Accounting Officer of First Financial Bankshares, Inc. (FFIN), had 6,094 performance stock units vest on March 13, 2026. The filing shows an award/acquisition of 6,094 shares, a disposition of 6,094 performance stock units, and an acquisition of 6,094 deferred (derivative) stock units.
• No price or cash value is reported on the Form 4 (listed as N/A). This was not a market sale or purchase for cash — the vested performance units were converted into deferred stock units rather than being delivered as immediately tradable common shares.

Key Details

• Transaction date: March 13, 2026. Form 4 filed March 17, 2026 (filed within the required two business days).
• Reported amounts: 6,094 performance stock units vested; 6,094 performance units disposed; 6,094 deferred stock units acquired. Price/total value: N/A on the filing.
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes: (F1) Shares issued upon vesting of performance stock units subject to non-price performance criteria. (F2) Instead of receiving common stock, Mr. Butler deferred receipt and received 6,094 deferred stock units under the First Financial Supplemental Executive Retirement Plan (SERP), payable upon termination of employment.

Context

• This is a vesting and deferral transaction (derivative conversion), not an open-market trade or sale for cash; it does not indicate immediate buying or selling pressure on the stock.
• Vesting indicates applicable performance criteria were met for those performance units. The deferred units will convert to payment under the SERP in the future (typically upon termination), so they remain illiquid until payable.