SEC Form 4 · accession 0001209191-15-009355
FIRST FINANCIAL BANKSHARES INC · FFIN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
F Scott Dueser
Officer — Chairman, President and CEO · Director
Period of report
Feb 4, 2015
Accepted (ET)
Feb 4, 2015 · 3:44 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000036029
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 4, 2015 | M | 4,000 | $15.73 | A | 409,154 | I | By Trust |
| Common StockF2 | holding | — | — | — | 278,002 | I | By Partnership | |
| Common StockF3 | holding | — | — | — | 170,730 | I | By LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option, Right to Buy | $15.73 | Feb 4, 2015 | M | 4,000 | D | Oct 25, 2014 | Oct 25, 2021 | Common Stock | 4,000 | 12,000 | D |
Explanation of responses
- F1Reflects the cash exercise of options and concurrent transfer to a trust of which Mr. Dueser is the trustee, settlor and beneficiary. The total shares represented are held in various trusts of which Mr. Dueser is the trustee, settlor and beneficiary. Effective January 9, 2015, 372,162 shares were transferred from the FSD Management Trust to The FSD 2015 Annuity Trust, a grantor retained annuity trust of which Mr. Dueser is the trustee and sole annuitant. The total shares reported as held by the trusts has been corrected to remove 546 shares which were erroneously reported as beneficially owned by Mr. Dueser on his last Form 4, which was filed on July 22, 2014.
- F2Represents shares owned by a partnership of which Mr. Dueser is the manager. Mr. Dueser disclaims beneficial ownership with respect to 208,502 shares because he does not have a pecuniary interest in such shares. This report should not be deemed an admission that Mr. Dueser is the beneficial ownership of these shares for purposes of Section 16 or any other purpose.
- F3Represents shares owned by a limited liability company ("LLC") of which Mr. Dueser is the manager and sole member. Such shares were transferred to the LLC from the FSD Management Trust effective January 9, 2015.