Jeter Frances H. 4
4 · Stellar Bancorp, Inc. · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
Stellar Bancorp Director Frances H. Jeter Disposes 29,136 Shares in Merger
What Happened
Frances H. Jeter, a director of Stellar Bancorp, disposed of 29,136 shares on July 1, 2026. The Form 4 reports a "Disposition to the issuer" (code D) at $0.00 per share because Stellar shares were cancelled in a merger. Under the merger terms, each Stellar share was converted into 0.3803 shares of Prosperity Bancshares common stock and $11.36 in cash. For Jeter's 29,136 shares that equals approximately 11,080.4208 Prosperity shares plus $330,984.96 in cash.
Key Details
- Transaction date: July 1, 2026 (Effective Time of the merger)
- Form 4 line-item: Disposition to issuer (D) — 29,136 shares @ $0.00 = $0 reported (conversion recorded)
- Merger consideration (per footnote): 0.3803 Prosperity shares + $11.36 cash per Stellar share
- Total received (approx.): 11,080.4208 Prosperity shares and $330,984.96 cash
- Shares owned after transaction: Stellar common shares were cancelled (ownership of Stellar shares = 0)
- Filing timeliness: Reported with the July 1, 2026 transaction date (no late filing indicated)
Context: The transaction is a corporate action (merger-induced conversion), not an open-market sale or insider-initiated trade. The Form 4 shows the mechanical conversion of Stellar shares into the agreed merger consideration rather than a cash sale on the market.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1]2026-07-01−29,136→ 0 total
Footnotes (1)
- [F1]On July 1, 2026 (the "Effective Time"), upon consummation of the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 27, 2026, by and between Prosperity Bancshares, Inc., a Texas corporation ("Prosperity") and Stellar Bancorp, Inc., a Texas corporation (the "Company"), and subject to the terms and conditions set forth in the Merger Agreement, each share of the Company's common stock, par value $0.01 per share, ("Company Common Stock") outstanding immediately prior to the Effective Time was cancelled and converted into the right to receive (i) 0.3803 shares of common stock (the "Exchange Ratio"), par value $1.00 per share, of Prosperity ("Prosperity Common Stock") and (ii) an amount in cash equal to $11.36 (the "Per Share Cash Merger Consideration") ((i) and (ii) together, the "Per Share Merger Consideration").