BankUnited (BKU) CFO James G. Mackey Exercises RSUs; Shares Withheld

What Happened
James G. Mackey, Chief Financial Officer of BankUnited, had 8,937 restricted share units (RSUs) vest and convert into common shares on August 20, 2026. Of those vested shares, 3,517 shares were withheld by the issuer to satisfy tax withholding obligations at an implicit price of $46.83 per share, totaling about $164,701. The net shares delivered to Mackey were 5,420 (8,937 vested minus 3,517 withheld). This was a vesting/conversion of equity awards rather than an open-market sale or purchase.

Key Details

• Transaction date: August 20, 2026 (reported on Form 4 filed August 21, 2026). Filing appears timely (filed the next day).
• Vesting/conversion: 8,937 RSUs converted into 8,937 shares (reported as derivative exercise/conversion, code M).
• Tax withholding: 3,517 shares withheld by the issuer (reported as disposition, code F) at $46.83/share = $164,701; these shares were not sold on the market but retained by the company to cover withholding.
• Net shares delivered to insider: 5,420 shares (8,937 − 3,517).
• Footnotes: RSUs represent the right to one share (or cash equivalent) at settlement (F2). Awards issued under the BankUnited 2023 Omnibus Equity Incentive Plan; additional tranches of 8,936 and 8,937 units vest in Aug 2027 and Aug 2028 respectively (F3). F1 clarifies withheld shares were not sold by the reporting person.
• The Form 4 does not report any open-market purchase or sale by Mackey in this filing.

Context
This transaction is a routine equity award vesting and tax-withholding event (conversion of RSUs), not an active buy or deliberate sale on the open market. For retail investors, such vesting is compensation-related and does not by itself signal a managerial change in sentiment; the withheld shares simply cover tax obligations.