Scurlock John Matthew 4

What Happened

• John Matthew Scurlock, Chief Financial Officer of Texas Capital Bancshares (TCBI), had performance-based units vest and converted them into 4,653 shares on Feb 9, 2026 (reported on Form 4 filed Feb 10, 2026). The conversion was recorded at $0.00 per share (derivative conversion).
• To satisfy tax withholding, Scurlock surrendered 539 shares (value $56,390) and 1,293 shares (value $135,274) at $104.62 per share, for a total withholding value of $191,664. After withholding, he retained a net of 2,821 shares from the conversion.
• This was not an open-market sale; it was the vesting/conversion of previously granted performance units (i.e., compensation being realized), with shares surrendered to cover tax obligations.

Key Details

• Transaction date: February 9, 2026; Form 4 filed February 10, 2026 (timely).
• Conversion: 4,653 shares acquired via exercise/conversion of derivative (code M) at $0.00 per share.
• Tax withholding: 1,832 shares disposed (code F) at $104.62 per share — $56,390 (539 shares) and $135,274 (1,293 shares); total $191,664.
• Net shares retained from the vesting: 2,821 shares (4,653 converted − 1,832 withheld).
• Footnote: These were performance units granted Feb 9, 2023 that vested Feb 9, 2026 based on performance goals (per filing).
• Shares owned after the transaction: not disclosed in the provided filing.

Context

• This was a vesting/conversion of performance awards, not an open-market purchase or sale. The surrender of shares to cover taxes is a common administrative step (similar to a cashless exercise or tax withholding) and does not necessarily indicate a change in the insider’s market view.
• For retail investors: note the company and CFO ended up with a net increase in shares held by the insider (2,821 shares) as a result of the vesting.