Huestis Timothy Howard 4
4 · PINNACLE FINANCIAL PARTNERS INC · Filed Feb 27, 2020
Insider Transaction Report
Form 4
Huestis Timothy Howard
Chief Credit Officer
Transactions
- Award
PNFP Common Stock
2020-02-25+1,111→ 1,970 total - Tax Payment
PNFP Common Stock
2020-02-26$56.78/sh−273$15,501→ 1,697 total
Holdings
- 619(indirect: By 401(k))
PNFP Common Stock
Footnotes (3)
- [F1]On January 23, 2015, the reporting person was granted 1,111 performance units eligible to vest at target levels of performance (with vesting of more or less units possible based on actual performance) based on the extent to which certain ROATA metrics were met for 2015, 2016 and 2017 and so long as the ratio of Pinnacle Bank's nonperforming assets to its loans plus other real estate owned (NPA ratio) at December 31, 2019 was not greater than 3.00%. Based upon the performance of Pinnacle Financial Partners, Inc. (the Company) for 2015, 2016 and 2017 and the NPA ratio at December 31, 2019, as reflected in the Company's Annual Report on Form 10-K for 2019, the reporting person earned 1,111 performance units, which units vested and were settled in 1,111 shares of Company common stock. As described in footnote 3, a portion of these 1,111 shares of common stock were retained by the Company to cover withholding taxes owed by the reporting person.
- [F2]Performance units are settled in shares of common stock on a one-for-one basis. Accordingly, no purchase price was paid for the shares by the reporting person.
- [F3]Represents shares retained by the Company to cover withholding taxes due upon the vesting of the performance units and issuance of the common shares described in footnote 1.