TUDER IRMA LOYA 4

What Happened
Irma Tuder, a director of ServisFirst Bancshares, exercised options (derivative transactions, code M) to acquire 8,000 shares at an exercise price of $35.65 per share (total cost $285,200) on 2026-03-12. The filing also reports a simultaneous disposition of 8,000 derivative shares at the same $35.65 price (reported value $285,200). The transactions indicate the options were exercised and an equal number of shares were immediately disposed of rather than retained.

Key Details

• Transaction date: 2026-03-12; Form 4 filed 2026-03-13 (appears timely).
• Exercise details: 8,000 shares acquired at $35.65/share = $285,200.
• Disposition details: 8,000 shares disposed (derivative) at $35.65/share = $285,200.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 notes 784 restricted stock awards that vest 05/19/2026. F2 states the reporting person is trustee of the Jackie Ray Tuder 2012 Irrevocable Trust and disclaims beneficial ownership of trust-held SFBS stock except to the extent of pecuniary interest.

Context

• Code M denotes exercise or conversion of derivative securities (options). The matching acquisition and disposition of 8,000 shares suggests the exercised shares were not retained (commonly a sell-to-cover or immediate sale), but the filing itself does not state the exact mechanics.
• These transactions are routine insider option exercises and disposals; they are factual disclosures and do not by themselves indicate the director’s view of the company’s prospects.