Alvarado Anna M 4

What Happened

• Anna M. Alvarado, Chief Legal Officer of Texas Capital Bancshares (TCBI), exercised/converted derivative awards that resulted in 1,178 shares and was also granted 5,378 restricted stock units (RSUs). As part of the exercise, 526 shares were surrendered/withheld to cover tax liability at $98.87 per share (≈ $52,006). The exercises/grant were reported on Form 4 with transaction dates in late January 2026.

Key Details

• Transaction dates: Grant on 2026-01-27; exercise/conversion and withholding reported 2026-01-29; Form 4 filed 2026-01-30.
• Exercise/conversion: 1,178 shares acquired (code M) at $0.00 (derivative conversion).
• Tax withholding/disposition: 526 shares disposed (code F) at $98.87 per share for a withholding of ≈ $52,006.
• Grant: 5,378 RSUs (code A) reported as acquired at $0.00 (derivative).
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Footnotes: F1 and F3 reference RSU vesting schedules — F1: RSUs vest in three equal annual installments beginning Jan 28, 2026; F3: RSUs vest in three equal annual installments beginning Jan 27, 2027.
• Timeliness: Form 4 was filed on 2026-01-30 for transactions on 2026-01-27 and 2026-01-29, which appears to be within the normal reporting window (not marked late).

Context

• This transaction looks like an internal conversion/exercise of derivative awards with a common withholding of shares to satisfy tax obligations (code F). That withholding is not an open-market sale and is routine for option/RSU exercises. The separate RSU grant vests over multiple years per the footnotes and is not immediate stock ownership until vesting occurs.