Bender Bradley D 4

What Happened

• Bradley D. Bender, Chief Risk Officer of Truist Financial (TFC), had restricted stock units (RSUs) convert to 7,821 shares on March 13, 2026. The conversion is recorded as derivative exercises/conversions (code M) at $0.00 per share.
• To cover tax withholding (code F), 4,337 shares were surrendered at $43.83 per share, totaling approximately $190,091. After withholding, Bender received a net of 3,484 shares. This was a routine vesting and tax-withholding event, not an open-market sale or purchase.

Key Details

• Transaction date: 2026-03-13; Form 4 filed: 2026-03-17 (appears to be one business-day late vs. a two-business-day filing requirement).
• Conversion entries: 7,821 shares acquired at $0.00 (derivative conversion). Tax withholding: 4,337 shares disposed at $43.83/share for ~$190,091.
• Net shares received: 3,484.
• Footnotes: The shares came from March 15, 2026 vesting tranches of prior RSU grants (see footnotes F1–F3 for grants dated Feb 22, 2022; Feb 27, 2023; Feb 26, 2024). Other listed grants (F4–F7) relate to future vesting schedules.
• Filing timeliness: Form appears filed late by one business day (filed Mar 17 for a Mar 13 transaction).

Context

• This was a vesting/conversion of RSUs with shares withheld to satisfy tax obligations (a common administrative action), not an open-market sale indicating a change in investment view.
• Transaction codes: M = exercise/conversion of a derivative (RSU conversion), F = payment of exercise price or tax liability (share withholding).