McCormick Patrick C 4

What Happened
Patrick C. McCormick, Senior EVP & Chief Commercial Bank Officer of Univest Financial (UVSP), completed multiple derivative transactions on March 15, 2026. He converted/exercised derivative rights resulting in 5,138 shares of common stock being issued to him. The filing also shows 1,249 shares were surrendered to cover tax withholding at $32.72 per share (value $40,867). In addition, McCormick received new awards totaling 6,189 restricted stock units (1,857 + 4,332 RSUs), which are contingent/derivative awards rather than immediately tradable shares. The filing reports a separate disposition of 760 shares labeled as “other disposition.”

Key Details

• Transaction date: March 15, 2026; Form filed March 17, 2026 (timely).
• Conversion/exercise: 5,138 derivative units converted to common shares (multiple entries).
• Tax withholding/payment: 1,249 shares surrendered at $32.72/share = $40,867.
• New awards: 1,857 RSUs and 4,332 RSUs granted (total 6,189 RSUs).
• Other disposition: 760 shares reported under code J (filing does not specify exact reason).
• Footnotes: settlements represent one share per RSU on vesting; some awards are performance-based (may pay up to 150% and vest after a 3-year performance period); some vested shares may be cancelled after performance evaluation; certain RSUs vest 33.33% per year over three years.
• Shares owned after transaction: not provided in the excerpt; footnotes note inclusion of 3,269.0010 shares from DRIP/ESPP in ownership totals.

Context
These transactions are largely routine equity compensation activity: conversion/settlement of derivative awards into shares and the grant of new restricted stock units. The surrender of 1,249 shares to cover taxes is a common withholding method (not an open-market sale). Performance-based RSUs reported here will vest per the performance/vesting schedule in the footnotes (including potential cancellation or upward adjustment based on results). This filing is from an executive officer (not a 10% owner) and does not, by itself, indicate personal market timing or investment intent.