Scurlock John Matthew 4

What Happened

• John Matthew Scurlock, CFO of Texas Capital Bancshares (TCBI), converted/exercised 1,819 derivative awards (reported as RSU/derivative conversion) on 2026-02-13. Of those, 716 shares were surrendered/withheld to cover tax obligations at $103.42 per share, totaling $74,049. The net shares retained by Scurlock after withholding were 1,103 (1,819 − 716).
• This was not an open-market purchase or sale for investment; it reflects conversion/vesting of company awards and routine tax withholding.

Key Details

• Transaction date: 2026-02-13; Form 4 filed 2026-02-17 (appears timely; Feb 16 was a federal holiday).
• Reported entries:
  • M (exercise/conversion): +1,819 shares @ $0.00 (acquired via conversion)
  • F (tax/payment): −716 shares @ $103.42 (withheld) → $74,049
  • M (derivative disposition): 1,819 shares reported as converted/settled
• Net shares received: 1,103 (1,819 converted − 716 withheld).
• Shares owned after the transaction: Not reported on the Form 4.
• Footnote: The awards vest in three equal annual installments beginning February 16, 2025 (per filer).

Context

• Derivative/vesting transactions: The filing shows conversion/settlement of restricted stock units or similar derivative awards (code M) and a common tax-withholding surrender (code F). This is a routine administrative step when awards vest and does not by itself indicate a bullish or bearish trade decision.
• Tax withholding: The 716 shares surrendered to cover taxes are typical and reduce the number of shares the insider ultimately receives.