Wilson Bank Holding Director James Clemons Exercises 7,500 SARs

What Happened
Director James Randall Clemons exercised 7,500 stock appreciation rights (derivative transaction, code M) on 2026-08-04. The Form 4 shows a $0 per‑share price and $0 total value because the awards were cash‑settled (no shares issued to Clemons on this filing).

Key Details

• Transaction date: 2026-08-04 (reported on Form 4 dated 2026-08-04).
• Transaction type/code: M — exercise/conversion of a derivative (cash‑settled SAR).
• Quantity: 7,500 rights exercised; reported price: $0.00 (cash settlement, so no share price shown).
• Shares owned after transaction: not specified on the provided summary.
• Footnote: F1 — the cash‑settled stock appreciation right fully vested on 9/26/2021; all shares/rights have now been exercised.
• Filing timeliness: filed the same day as the reported transaction (no late filing indicated).

Context
A cash‑settled stock appreciation right (SAR) pays the holder the monetary increase in value rather than delivering shares. Because this was cash‑settled, the Form 4 shows the derivative disposition but no new shares were received. This is an exercise of a vested award rather than an open‑market purchase or sale of stock; it does not by itself indicate a change in the insider’s ongoing view of the company.