David W. Bailey - Aug 16, 2023 Form 4 Insider Report for FIRST FINANCIAL BANKSHARES INC (FFIN)

Role
EVP, Commercial Banking
Signature
By: Michelle S. Hickox Attorney in Fact for David W. Bailey
Stock symbol
FFIN
Transactions as of
Aug 16, 2023
Transactions value $
-$974
Form type
4
Date filed
8/18/2023, 03:53 PM
Previous filing
Aug 18, 2022
Next filing
Feb 9, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FFIN Common Stock Tax liability -$974 -33 -0.44% $29.53 7.39K Aug 16, 2023 Direct F1
transaction FFIN Common Stock Award $0 +1.92K +25.95% $0.00 9.31K Aug 16, 2023 Direct F2
transaction FFIN Common Stock Disposed to Issuer -226 -2.43% 9.09K Aug 16, 2023 Direct F3

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 +6.75K $0.00 6.75K Aug 16, 2023 Common Stock 6.75K $29.53 Direct F4
transaction FFIN Deferred Stock Units Award +226 226 Aug 16, 2023 Common Stock 226 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person elected, in accordance with the Registrant's 2021 Omnibus Stock and Incentive Plan, to exercise his right to have the Registrant withhold 33 shares of the Registrant's common stock to pay income taxes related to vesting of previously granted restricted stock units.
F2 Reflects grant of restricted stock units (RSUs) which vest in three approximately equal installments on each of the three anniversaries of the grant date.
F3 In connection with the vesting on August 16, 2023, of 226 restricted stock units previously granted to Mr. Bailey on August 16, 2022, Mr. Bailey's receipt of 226 shares of common stock was deferred resulting in Mr. Bailey's receipt instead of 226 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. Bailey is therefore reporting the disposition of 226 restricted stock units in exchange for an equal number of shares of deferred stock units under the SERP, which are payable upon Mr. Bailey's termination of employment.
F4 The options vest 33.33% after one year from the grant date, 66.66% after the second year, and 100% after the third year.