Franklin Robert R Jr 4
4 · PROSPERITY BANCSHARES INC · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
Prosperity (PB) Vice Chair Robert R. Franklin Jr Receives 132,392 Shares
What Happened
Robert R. Franklin Jr., Vice Chairman and Director of Prosperity Bancshares, acquired 132,392 shares of Prosperity common stock on July 1, 2026. The shares were received as merger consideration in the closing of Prosperity’s acquisition of Stellar Bancorp; the Form 4 lists the transaction price as N/A because the shares were issued/converted under the merger agreement rather than bought or sold on the open market.
Key Details
- Transaction date: 2026-07-01; transaction code: A (award/grant/other acquisition); reported price: N/A.
- Shares acquired: 132,392 Prosperity common shares.
- Shares owned after transaction: Not disclosed in the filing.
- Notable footnote: The shares were issued under the Agreement and Plan of Merger dated Jan 27, 2026. Under the deal, each Stellar share was converted into 0.3803 Prosperity shares plus $11.36 in cash. The 132,392 Prosperity shares therefore correspond to roughly 348,125 Stellar shares and an approximate cash component of ~$3.95M (cash paid to former Stellar holders per share), in addition to the Prosperity stock received.
- Filing timeliness: Reported with the Form 4 covering the 2026-07-01 transaction date (no late filing indicated).
Context
This was a non-market acquisition of shares as part of merger consideration, not a purchase or sale signaling an insider trade decision. Conversions of restricted awards and stock upon a merger are routine corporate events and reflect the deal terms rather than active insider buying or selling.
Insider Transaction Report
- Award
Common Stock
[F1]2026-07-01+132,392→ 132,392 total
Footnotes (1)
- [F1]Acquired in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated as of January 27, 2026, by and between Prosperity Bancshares, Inc., a Texas corporation ("Prosperity") and Stellar Bancorp, Inc., a Texas corporation ("Stellar"). On July 1, 2026 (the "Effective Time"), upon and subject to the terms and conditions set forth in the merger agreement, (i) each share of Stellar's common stock, par value $0.01 per share, outstanding immediately prior to the Effective Time was cancelled and converted into the right to receive (a) 0.3803 shares of common stock, par value $1.00 per share, of Prosperity and (b) an amount in cash equal to $11.36 ((a) and (b) together, the "Per Share Merger Consideration"), and (ii) each outstanding Stellar restricted stock award subject solely to service-based vesting, repurchase or other lapse restriction vested and was converted into the right to receive (without interest) the Per Share Merger Consideration.