Cornish Thomas M. 4
4 · BankUnited, Inc. · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
BankUnited COO Thomas Cornish Sells 83,736 Shares
What Happened Thomas M. Cornish, Chief Operating Officer of BankUnited, converted vested performance share units and restricted share units into common stock and then disposed of 83,736 shares to the issuer on March 9, 2026. The shares were disposed at $44.76 each, generating gross proceeds of $3,748,023. The conversion entries show acquisitions at $0.00, indicating settlement of award units rather than a cash purchase.
Key Details
- Transaction date: March 9, 2026; filing date: March 11, 2026 (filed timely).
- Sale/disposition: 83,736 shares disposed to the issuer at $44.76 per share; proceeds $3,748,023.
- Conversions/exercises: 55,132 performance share units (PSUs) and 28,604 restricted share units (RSUs) were converted/settled (reported as exercise/conversion, code M, at $0.00).
- Vesting notes: 55,132 PSUs vested on Dec 31, 2025 (F4). The 28,604 RSUs comprise 14,090 units that vested on Dec 31, 2025 under the 2014 plan and 14,514 units that vested on Dec 31, 2025 under the 2023 plan; other RSUs have future vesting dates per the filing (F5).
- Joint ownership: Some shares are held in a joint account with the reporting person's spouse (F3).
- Shares owned after the transaction: Not specified in the provided filing excerpt.
- Transaction codes: M = exercise/conversion of derivative awards; D = disposition to the issuer.
Context The filing shows vested equity awards (PSUs and RSUs) were settled into shares (acquired at $0.00) and those shares were subsequently disposed to the issuer at $44.76 each. Dispositions to the issuer in these situations are typically settlements or transfers to the company (not open-market sales). This activity reflects award settlement and disposition rather than a new cash purchase; it does not, by itself, indicate management's view of the stock beyond the mechanics of vesting and settlement.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.01 per share
[F1]2026-03-09+55,132→ 155,132 total - Exercise/Conversion
Common Stock, par value $0.01 per share
[F2]2026-03-09+28,604→ 183,736 total - Disposition to Issuer
Common Stock, par value $0.01 per share
[F3]2026-03-09$44.76/sh−83,736$3,748,023→ 100,000 total - Exercise/Conversion
Performance Share Unit
[F1][F4]2026-03-09−55,132→ 0 total→ Common Stock, par value $0.01 per share (55,132 underlying) - Exercise/Conversion
Restricted Share Unit
[F2][F5]2026-03-09−28,604→ 21,104 total→ Common Stock, par value $0.01 per share (28,604 underlying)
Footnotes (5)
- [F1]Each performance share unit represents the right to receive, at settlement, one share of common stock or cash in an amount equal to the fair market value of one share of common stock.
- [F2]Each restricted share unit represents the right to receive, at settlement, one share of common stock or cash in an amount equal to the fair market value of one share of common stock.
- [F3]Shares held in a joint account with the reporting person's spouse.
- [F4]55,132 performance share units vested on December 31, 2025 and are fully vested.
- [F5]14,090 restricted share units vested on December 31, 2025 were granted under the BankUnited, Inc. 2014 Omnibus Equity Incentive Plan. The units granted under the BankUnited, Inc. 2023 Omnibus Equity Incentive Plan include 14,514 units that vested on December 31, 2025; 14,514 units that will vest on December 31, 2026; and 6,590 units that will vest on December 31, 2027.