Santana Megan D 4

What Happened

• Megan D. Santana, Senior EVP, Chief Risk Officer and General Counsel of UNIVEST FINANCIAL Corp (UVSP), reported multiple derivative conversions/awards on 2026-03-15. She converted/exercised derivatives totaling 6,765 shares (661 + 863 + 621 + 4,620) and received grant/award transactions totaling 5,638 restricted/performance-based units (1,692 + 3,946). To satisfy tax withholding or related obligations, 2,499 shares were surrendered/disposed at $32.72 each for $81,767; other dispositions include 1,026 shares (code J) and the same exercised-share lots show as disposed (indicating an immediate sale/cashless settlement of those exercised shares).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026.
• Sales/withhold: 2,499 shares withheld/sold at $32.72 → $81,767 total.
• Derivative conversions (M): 661, 863, 621, and 4,620 shares listed as acquired and also listed as disposed (consistent with immediate sale/cashless exercise).
• Awards/grants (A): 1,692 and 3,946 restricted/performance-based units reported as acquired.
• Other disposition (J): 1,026 shares disposed (no dollar amount reported).
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Footnotes: settlements represent RSU/PSU vesting (F1, F3, F6); PSUs vest after 3 years with payout up to 150% based on performance (F7); some vested shares may be cancelled after performance evaluation (F4); RSUs generally vest over three years (F5).
• Filing timeliness: filed two days after the transactions (no late-filing flag in the provided data).

Context

• The pattern—derivative conversions reported as both acquired and disposed and a separate tax-withholding share surrender—indicates RSU/PSU settlements and/or option conversions with immediate sale or share withholding to cover taxes, rather than an open-market investment. Awards (A) represent contingent rights to future shares that may vest per performance or time-based schedules; PSUs may pay up to 150% of the reported units depending on results. These kinds of “sell-to-cover” or withholding transactions are routine for compensatory equity settlements and do not necessarily signal a change in the insider’s investment view.