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BIRMINGHAM, AL - John Lee McPhearson, a director at First US Bancshares Inc. (NASDAQ:FUSB), reported a recent sale of company stock, according to an SEC filing. On February 28, McPhearson sold 1,500 shares of common stock at a price of $8.23 per share, totaling $12,345. The transaction occurred when the stock was near its 52-week low, with shares since rallying 36% over the past year to trade at $13.65. Following this transaction, McPhearson holds 10,208 shares directly.
In a separate transaction on the same day, McPhearson acquired 1,500 shares at the same price of $8.23 per share, through McPhearson Land Holdings, LLC. This acquisition brings his indirect holdings to 1,500 shares.
Additionally, McPhearson’s spouse owns 3,000 shares indirectly, contributing to the family’s total investment in the company. These transactions reflect McPhearson’s ongoing engagement with First US Bancshares, a financial institution headquartered in Birmingham, Alabama.
In other recent news, First US Bancshares has announced a quarterly cash dividend of $0.07 per share, marking the forty-third consecutive quarter of dividend payments. The dividend is scheduled for payment on April 1, 2025, to shareholders on record as of March 14, 2025. Additionally, First US Bancshares has introduced a 2025 Cash Incentive Program aimed at rewarding certain executive officers and key employees. This program is based on achieving specific financial performance objectives, including consolidated pre-tax income and net loan growth in indirect lending. Participants have the opportunity to earn between 50% and 150% of their target bonus, depending on performance relative to budgeted goals.
In governance-related developments, First US Bancshares has announced the resignation of board member John C. Gordon, effective January 31, 2025, after serving since 1997. The company also amended its bylaws to allow the board to waive the mandatory retirement age for non-employee directors. This change provides the flexibility to retain experienced directors beyond the previous age limit of seventy-five. These updates reflect the company’s ongoing adjustments to its leadership structure, as noted in their recent SEC filings.
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