RICHERSON HERBERT ELMER 4

What Happened
Herbert E. Richerson, a director of Wilson Bank Holding Co., recorded the exercise (code M) of 7,500 derivative awards on 2026-07-20. The filing indicates these were cash‑settled stock appreciation rights (SARs) that fully vested on 2021-09-26; all such SARs have now been exercised. The Form 4 shows a price of $0.00 and a reported proceeds value of $0, meaning no shares were issued to the insider in this transaction and the cash payment amount is not disclosed in the filing.

Key Details

• Transaction date: 2026-07-20 (filed same day). Transaction code: M (exercise/conversion of derivative).
• Reported price: $0.00; reported cash proceeds: $0 (per Form 4).
• Number of derivative units exercised: 7,500.
• Shares owned after transaction: not specified in this filing.
• Footnote: F1 — "This cash‑settled stock appreciation right fully vested on 9/26/2021. All shares have been exercised."
• Filing timeliness: filed for the same reporting date (not indicated as late).

Context
Cash‑settled SARs pay the holder the appreciation in value in cash rather than delivering company stock, so this exercise did not increase or decrease Richerson’s publicly reported share ownership. The filing does not disclose the cash amount received; Form 4s sometimes report $0 for cash‑settled derivative exercises when the cash payment is not reported on the form. This is a routine derivative settlement and not a direct purchase or sale of company stock.