Equity Bancshares (EQBK) CEO Brad S. Elliott Exercises Options and Sells Shares

What Happened

• Brad S. Elliott, CEO of Equity Bancshares (EQBK), exercised stock options and immediately sold the resulting shares. On July 29, 2026 he exercised 4,165 options at $33.50 (cost $139,528) and sold those 4,165 shares at a weighted-average price of $51.12 for proceeds of $212,915. On July 30, 2026 he exercised 416 options at $33.50 (cost $13,936) and sold those 416 shares at a weighted-average price of $51.02 for proceeds of $21,224. Total exercised = 4,581 shares; total sale proceeds ≈ $234,139; total exercise cost ≈ $153,464 (gross difference ≈ $80,675).

Key Details

• Transaction dates and prices:
  • 2026-07-29: Exercised 4,165 options @ $33.50 (acquired) and sold 4,165 shares @ weighted avg $51.12 (sale range $51.01–$51.27 per footnote F1).
  • 2026-07-30: Exercised 416 options @ $33.50 (acquired) and sold 416 shares @ weighted avg $51.02 (sale range $51.00–$51.06 per footnote F2).
  • The filing also records the derivative (option) being ‘‘disposed’’ at $0.00 upon exercise (standard cancellation of the option).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Notable footnotes:
  • F1/F2: Sale prices are weighted averages across multiple trades (ranges provided).
  • F3: Reporting person is the managing member of Elliott Legacy, LLC and disclaims beneficial ownership except to the extent of pecuniary interest.
  • F4: The option vested over three equal installments beginning Feb 17, 2018.
• Timeliness: Report covers transactions on 7/29 and 7/30 and was filed 7/31/2026 — appears timely under Section 16 reporting rules.

Context

• This was an option exercise followed by immediate open-market sales (a common cashless exercise/liquidity event), not a pure buy indicating new insider conviction. Such exercises often reflect routine vesting and liquidity needs rather than a bullish purchase signal.
• The F3 disclosure suggests some shares/rights are held through an entity (Elliott Legacy, LLC); the filer disclaims beneficial ownership beyond his pecuniary interest.