Santana Megan D 4

What Happened

• Megan D. Santana, Sr. EVP & Chief Risk Officer and General Counsel of Univest Financial Corporation (UVSP), exercised 2,787 derivative/option shares and sold those 2,787 shares the same day.
• Exercise: 2,787 shares at $28.50 per share for a total exercise cost of $79,430. Sale: 2,787 shares sold in the open market at a weighted average price of $40.83 for total proceeds of $113,803. The filing also lists a related derivative disposition of 2,787 shares at $0.00 (reported as part of the exercise/settlement mechanics).

Key Details

• Transaction date: 2026-06-08; Form 4 filed: 2026-06-09 (timely).
• Exercise reported: 2,787 shares @ $28.50 = $79,430 (code M).
• Open-market sale reported: 2,787 shares @ weighted avg $40.83 = $113,803 (code S). Footnote: sales executed at prices ranging $40.76–$40.89; weighted average shown.
• Zero-price derivative disposition: 2,787 shares @ $0.00 reported (reflects exercise/settlement entry in the filing).
• Holdings note: filing footnote indicates 13,925.2625 shares were acquired previously via the Dividend Reinvestment Plan and Employee Stock Purchase Plan. The filing excerpt provided does not state Santana’s total shares owned after these transactions.
• Vesting note: options referenced have a vesting schedule of 33.3% per year for three years from the exercisable date (footnote).

Context

• This sequence (same-day exercise and sale of the exercised shares) is consistent with a cashless exercise/sale transaction structure — common when insiders exercise options and immediately sell shares to cover costs and take proceeds. The filing was timely (next-day).