Keim Michael S 4

What Happened
Michael S. Keim, Senior Executive Vice President & COO of Univest Financial (UVSP), had a mix of restricted stock units and performance-based restricted stock units settle (convert to common shares) on March 15, 2026, and also received new awards. The filing shows four settled derivative conversions totaling 11,756 shares (1,150 + 1,499 + 1,061 + 8,046). To cover tax withholding related to the vesting/conversion, 4,348 shares were surrendered at $32.72 per share for a total withholding value of $142,267. The filing also reports an award of 9,414 new restricted/performance-based units (2,826 and 6,588).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely filing).
• Converted/settled derivatives (vested RSUs/PSUs): 11,756 shares (multiple line items).
• Shares withheld for tax liability (code F): 4,348 shares @ $32.72 = $142,267 (disposed).
• Other disposition (code J): 1,786 shares disposed — filing notes some vested shares were cancelled after performance evaluation.
• New awards (code A): 2,826 and 6,588 restricted/performance units granted = 9,414 units.
• Footnotes indicate: conversions represent settlement of one share per RSU; some units are performance-based (PSUs) that vest/settle based on a 3‑year performance period and may pay up to 150%; time‑based RSUs generally vest 33.33% per year over 3 years. One footnote also references 7,154.509 shares from a dividend reinvestment plan.
• Shares owned after the transactions are not specified in the provided excerpt.

Context
These entries are largely internal—vestings/settlements and new equity awards—rather than open‑market purchases or sales. The withholding of 4,348 shares to cover taxes is a routine "net share settlement" (code F) and is not the same as an open‑market sale. Performance-based units have a separate measurement period and possible payout range (up to 150%), and some vested shares were cancelled per performance evaluation (routine accounting of awards).