F. Scott Dueser - Aug 16, 2022 Form 4 Insider Report for FIRST FINANCIAL BANKSHARES INC (FFIN)

Role: Chairman, President and CEO, Director
Signature: By: James R. Gordon Attorney in Fact for F. Scott Dueser
Stock symbol: FFIN
Transactions as of: Aug 16, 2022
Transactions value $: $0
Form type: 4
Date filed: 8/18/2022, 05:21 PM
Previous filing: Jun 28, 2022
Next filing: Oct 26, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FFIN	Common Stock	Disposed to Issuer	$0	-3.27K	-0.35%	$0.00	929K	Aug 16, 2022	By Trust	F1, F2
transaction	FFIN	Common Stock	Award	$0	+10.4K	+1.12%	$0.00	940K	Aug 16, 2022	By Trust	F2, F3
holding	FFIN	Common Stock						496K	Aug 16, 2022	By Partnership	F4
holding	FFIN	Common Stock						448K	Aug 16, 2022	By Partnership	F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FFIN	Employee Stock Option, Right to Buy	Award	$0	+21.3K		$0.00	21.2K	Aug 16, 2022	Common Stock	21.3K	$47.19	Direct	F6
transaction	FFIN	Deferred Stock Units	Award	$0	+3.27K		$0.00	3.27K	Aug 16, 2022	Common Stock	3.27K	$0.00	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In connection with the vesting on August 16, 2022 of 3,272 restricted stock units previously granted to Mr. Dueser on August 16, 2021, Mr. Dueser's receipt of 3,272 shares of common stock was deferred, resulting in Mr. Dueser's receipt instead of 3,272 shares of deferred stock units into the First Financial Bankshares, Inc. Supplemental Executive Retirement Plan, as amended and restated effective July 26, 2022 (the "SERP"). Mr. Dueser is therefore reporting the disposition of 3,272 restricted stock units in exchange for an equal number of shares of deferred stock units under the SERP, which are payable upon Mr. Dueser's termination of employment.
F2	Represents shares held by several trusts of which Mr. Dueser is trustee, settlor and beneficiary.
F3	Reflects grant of restricted stock units (RSUs) which vest in three approximately equal installments on each of the three anniversaries of the grant date.
F4	Represents shares that are owned by a family limited partnership of which Mr. Dueser serves as manager of the general partner and to which he disclaims beneficial ownership with respect to 372,003 shares. This report should not be deemed an admission that Mr. Dueser is the beneficial owner of these shares for purposes of Section 16 or any other purpose.
F5	Represents shares that are owned by a family limited partnership of which Mr. Dueser serves as manager of the general partner and to which he disclaims beneficial ownership with respect to 319,636 shares. This report should not be deemed an admission that Mr. Dueser is the beneficial owner of these shares for purposes of Section 16 or any other purpose.
F6	The options vest 20% after one year from the grant date, 40% after the second year, 60% after the third year, 80% after the fourth year and 100% after the fifth year.