Benning Todd S 4

What Happened

• Todd S. Benning, a director of Univest Financial Corp (UVSP), had derivative activity and an award on 2026-01-31. The filing shows an exercise/conversion of 1,766 derivative units resulting in the acquisition of 1,766 shares and a simultaneous disposition of 1,766 shares (all at $0.00). In addition, he was granted/awarded 1,283 shares (reported at $0.00) in the form of restricted stock units (RSUs) that represent the contingent right to one share each upon vesting. These transactions are not reported as a cash purchase; the exercise/conversion was paired with an immediate disposition while the RSU grant is an award.

Key Details

• Transaction date: 2026-01-31; Form 4 filed: 2026-02-03.
• Transactions reported:
  • M (exercise/conversion of derivative): 1,766 shares acquired @ $0.00.
  • M (exercise/conversion of derivative): 1,766 shares disposed @ $0.00.
  • A (grant/award): 1,283 shares acquired @ $0.00 (derivative/RSU).
• Shares owned after the transactions: not specified in the provided excerpt.
• Footnotes:
  • F1: Settlement of one share of common stock upon vesting of the corresponding RSU.
  • F2: Includes 120.8935 shares acquired through the dividend reinvestment plan.
  • F3/F4: The RSUs vest on the date indicated assuming continued service; each RSU equals a contingent right to one share.
• Filing timeliness: Form filed three days after the transaction date; no late-filing flag was provided in the excerpt.

Context

• The "M" code means an exercise or conversion of a derivative. Here the exercised/conversion shares were recorded as both acquired and disposed (zero-dollar amounts), which often reflects immediate transfer, net settlement, or conversion mechanics rather than an open-market sale; the filing does not state further details.
• The "A" code indicates an award/grant of RSUs. RSU grants are compensation-related and become actual shares only upon vesting; they are informative about compensation but do not necessarily signal a director’s buy/sell sentiment.
• No 10% owner or 10b5-1 plan information is provided in the excerpt.