Scurlock John Matthew 4

What Happened

• John Matthew Scurlock, Chief Financial Officer of Texas Capital Bancshares (TCBI), exercised derivative awards and received an equity grant, then sold shares to satisfy tax withholding.
• On 2026-01-29 he exercised/converted 2,677 derivative units (code M) and, on the same day, 1,124 shares were sold (code F) at $98.87 per share for proceeds of $111,130 to cover tax obligations. The exercises/conversions are reported at $0 purchase price (derivative settlement).
• On 2026-01-27 he was granted 14,981 restricted stock units (RSUs) (code A) at $0 (value reflected as a derivative award), which vest over time per the footnotes.

Key Details

• Transaction dates and prices:
  • 2026-01-27: Grant of 14,981 RSUs (A) at $0.
  • 2026-01-29: Exercise/conversion of 2,677 derivatives (M) at $0.
  • 2026-01-29: Sale/withholding of 1,124 shares (F) at $98.87 for $111,130 (tax withholding).
• Vesting and footnotes:
  • F2/F3: RSUs vest in three equal annual installments — footnotes note vesting schedules beginning 1/28/2026 and 1/27/2027 for applicable grants.
  • F1: Beneficial ownership was adjusted by 950 shares to correct a prior calculation error.
• Shares owned after transaction: The Form 4 includes a corrective adjustment (F1); the filing does not state a single consolidated post-transaction total in this summary.
• Filing timeliness: Form 4 was filed 2026-01-30; this appears to be a timely filing for the reported transactions.

Context

• This looks like a routine exercise/settlement plus a sell-to-cover tax withholding: options/derivatives were converted to shares and a portion was sold immediately to satisfy taxes (common practice).
• The grant of RSUs represents future equity compensation that vests over three years; such awards are standard compensation and do not by themselves indicate a buy/sell signal.