Beckworth John 4

What Happened
John Beckworth, a director of Stellar Bancorp, reported two dispositions on July 1, 2026: 106,221 and 94,560 shares (total 200,781) were cancelled/converted as part of the company’s merger with Prosperity Bancshares. Per the merger terms, each Stellar share converted into 0.3803 shares of Prosperity common stock plus $11.36 in cash. That equals roughly 76,357 Prosperity shares and approximately $2,280,872.16 in cash consideration in total. The Form 4 shows the dispositions to the issuer at $0.00 because the shares were cancelled and converted under the merger, not sold on the open market.

Key Details

• Transaction date: 2026-07-01 (Effective Time of the merger)
• Reported dispositions: 106,221 shares and 94,560 shares (total 200,781) at $0.00 per share (disposed)
• Merger consideration (per Stellar share): 0.3803 Prosperity shares + $11.36 cash
• Aggregate consideration (approx.): ~76,357 Prosperity shares and ~$2,280,872.16 cash
• Shares owned after transaction: Not specified in the filing
• Footnote: Conversion and cash payment occurred under the Agreement and Plan of Merger dated Jan 27, 2026 (see F1)
• Filing timeliness: Reported with period and filing date 2026-07-01 (no late-filing indication)

Context
This was a corporate transaction-driven disposition (stock cancellation/conversion under a merger), not an open-market sale or voluntary personal sale. Such filings reflect the mechanics of merger consideration rather than an insider expressing a buy/sell view.