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[8-K] Civista Bancshares, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Franklin Financial Services (FRAF) � Insider transaction summary

EVP/CFO Mark R. Hollar filed a Form 4 for transactions on 07/25/2025:

  • Option exercise (Code M): 3,000 common shares acquired at a strike price of $30.00.
  • Share withholding (Code F): 2,102 shares surrendered at the market price of $42.83 to fund the cashless exercise.

After the two entries, Hollar’s direct beneficial ownership stands at 15,572 shares (plus 96 DRIP shares and previously reported unvested RSUs). The net result is an increase of �898 shares, signalling a modest rise in insider exposure. No derivative securities remain from the 2017 option grant; 2,927 options from a 2018 grant are still outstanding.

Insider option exercises when the market price materially exceeds the strike (� 43%) can indicate executive confidence and are generally viewed positively, although the partial share disposition tempers the signal. The transaction does not impact earnings or guidance but may be of interest to investors tracking insider sentiment.

Franklin Financial Services (FRAF) � Riepilogo delle transazioni interne

Il EVP/CFO Mark R. Hollar ha presentato un Modulo 4 relativo alle operazioni del 25/07/2025:

  • Esercizio di opzioni (Codice M): acquisizione di 3.000 azioni ordinarie al prezzo di esercizio di $30,00.
  • Ritenuta azioni (Codice F): 2.102 azioni cedute al prezzo di mercato di $42,83 per finanziare l’esercizio senza esborso di denaro.

Dopo queste due operazioni, la posizione diretta di proprietà beneficiaria di Hollar ammonta a 15.572 azioni (più 96 azioni DRIP e RSU non maturate precedentemente segnalate). Il risultato netto è un incremento di circa 898 azioni, indicando un lieve aumento dell’esposizione interna. Non restano titoli derivati dall’assegnazione di opzioni del 2017; sono invece ancora in essere 2.927 opzioni di un’assegnazione del 2018.

L’esercizio di opzioni da parte di un insider quando il prezzo di mercato supera significativamente il prezzo di esercizio (� 43%) può indicare fiducia da parte del management ed è generalmente interpretato positivamente, anche se la cessione parziale delle azioni attenua leggermente questo segnale. La transazione non influisce sui risultati economici né sulle previsioni, ma può interessare gli investitori che seguono il sentiment degli insider.

Franklin Financial Services (FRAF) � Resumen de transacciones internas

El EVP/CFO Mark R. Hollar presentó un Formulario 4 para transacciones del 25/07/2025:

  • Ejercicio de opciones (Código M): adquisición de 3.000 acciones comunes al precio de ejercicio de $30,00.
  • Retención de acciones (Código F): 2.102 acciones entregadas al precio de mercado de $42,83 para financiar el ejercicio sin desembolso de efectivo.

Tras estas dos operaciones, la propiedad beneficiaria directa de Hollar es de 15.572 acciones (más 96 acciones DRIP y RSU no adquiridas previamente reportadas). El resultado neto es un aumento de aproximadamente 898 acciones, señalando un ligero incremento en la exposición interna. No quedan valores derivados de la concesión de opciones de 2017; todavía están pendientes 2.927 opciones de una concesión de 2018.

El ejercicio de opciones por parte de un insider cuando el precio de mercado supera significativamente el precio de ejercicio (� 43%) puede indicar confianza ejecutiva y generalmente se considera positivo, aunque la disposición parcial de acciones modera esta señal. La transacción no afecta ganancias ni pronósticos, pero puede interesar a los inversores que siguen el sentimiento de los insiders.

Franklin Financial Services (FRAF) � 내부� 거래 요약

EVP/CFO Mark R. Hollar가 2025� 7� 25� 거래� 대� Form 4� 제출했습니다:

  • 옵션 행사 (코드 M): 행사가� $30.00� 3,000� 보통� 취득.
  • 주식 원천징수 (코드 F): 현금 없는 행사 자금 조달� 위해 시가 $42.83� 2,102� 주식 반환.

� � 거래 � Hollar� 직접� 실질 소유�15,572� (추가� 96� DRIP 주식� 이전� 보고� 미확� RSU 포함)입니�. � 결과� � 898� 증가�, 내부� 노출� 다소 증가했음� 나타냅니�. 2017� 옵션 부여로 인한 파생 증권읶 남아 있지 않으�, 2018� 부여된 2,927 옵션읶 여전� 미행� 상태입니�.

시장 가격이 행사가� 크게 상회� �(� 43%) 내부자가 옵션� 행사하는 것읶� 경영진의 신뢰� 나타� � 있으� 일반적으� 긍정적으� 평가됩니�. 다만 일부 주식 처분읶 이러� 신호� 다소 완화합니�. � 거래� 수익이나 가이던스에 영향� 미치지 않지�, 내부� 심리� 추적하는 투자자들에게� 관� 대상이 � � 있습니다.

Franklin Financial Services (FRAF) � Résumé des transactions d’initiés

Le EVP/CFO Mark R. Hollar a déposé un formulaire 4 concernant des transactions du 25/07/2025 :

  • Exercice d’options (Code M) : acquisition de 3 000 actions ordinaires au prix d’exercice de 30,00 $.
  • Retenue d’actions (Code F) : 2 102 actions remises au prix du marché de 42,83 $ pour financer l’exercice sans décaissement.

Après ces deux opérations, la possession bénéficiaire directe de Hollar s’élève à 15 572 actions (plus 96 actions DRIP et des RSU non acquises précédemment déclarées). Le résultat net est une augmentation d’environ 898 actions, indiquant une légère hausse de l’exposition des initiés. Aucun titre dérivé ne subsiste de la subvention d’options de 2017 ; 2 927 options d’une attribution de 2018 sont encore en circulation.

L’exercice d’options par un initié lorsque le prix du marché dépasse significativement le prix d’exercice (� 43 %) peut refléter la confiance des dirigeants et est généralement perçu positivement, bien que la cession partielle des actions modère ce signal. La transaction n’impacte ni les résultats ni les prévisions, mais peut intéresser les investisseurs suivant le sentiment des initiés.

Franklin Financial Services (FRAF) � Zusammenfassung der Insider-Transaktionen

EVP/CFO Mark R. Hollar reichte ein Formular 4 für Transaktionen am 25.07.2025 ein:

  • Optionsausübung (Code M): Erwerb von 3.000 Stammaktien zum Ausübungspreis von 30,00 $.
  • Aktieneinbehalt (Code F): 2.102 Aktien wurden zum Marktpreis von 42,83 $ abgegeben, um die barlose Ausübung zu finanzieren.

Nach diesen beiden Buchungen beträgt Hollars direkter wirtschaftlicher Eigentumsanteil 15.572 Aktien (plus 96 DRIP-Aktien und zuvor gemeldete nicht übertragene RSUs). Das Nettoergebnis ist eine Steigerung um etwa 898 Aktien, was auf eine moderate Erhöhung der Insider-Position hinweist. Es verbleiben keine Derivate aus der Optionszuteilung von 2017; 2.927 Optionen aus einer Zuteilung von 2018 sind noch offen.

Die Ausübung von Optionen durch Insider, wenn der Marktpreis den Ausübungspreis deutlich übersteigt (� 43%), kann auf Vertrauen des Managements hinweisen und wird generell positiv bewertet, obwohl die teilweise Veräußerung der Aktien das Signal etwas abschwächt. Die Transaktion wirkt sich nicht auf Gewinn oder Prognosen aus, könnte aber für Anleger, die das Insider-Sentiment verfolgen, von Interesse sein.

Positive
  • CFO increased direct ownership by approximately 898 shares, signalling incremental insider confidence.
  • Options exercised at $30 vs. $42.83 market price highlight management’s view that shares remain attractive at current levels.
Negative
  • 2,102 shares were disposed (withheld) at $42.83, partially offsetting the positive ownership signal.

Insights

TL;DR: CFO exercised 3k options, net +898 shares; insider sentiment mildly positive.

Hollar’s cashless exercise removes an in-the-money 2017 option block while retaining ~30 % of the shares. Paying the $90k exercise cost via share withholding avoids cash outlay and tax friction, a common practice. The 43 % spread between the $30 strike and $42.83 market price is sizeable, suggesting the option was deep in the money. Final ownership of 15,572 shares (�1.4 % of outstanding*), plus unvested RSUs and remaining 2018 options, leaves the CFO more aligned with shareholders. Because only 2,102 shares were effectively sold, dilution to the float is immaterial. Insider net buying is typically viewed as a modest positive signal, but the scale (<1,000 shares) limits market impact.

Franklin Financial Services (FRAF) � Riepilogo delle transazioni interne

Il EVP/CFO Mark R. Hollar ha presentato un Modulo 4 relativo alle operazioni del 25/07/2025:

  • Esercizio di opzioni (Codice M): acquisizione di 3.000 azioni ordinarie al prezzo di esercizio di $30,00.
  • Ritenuta azioni (Codice F): 2.102 azioni cedute al prezzo di mercato di $42,83 per finanziare l’esercizio senza esborso di denaro.

Dopo queste due operazioni, la posizione diretta di proprietà beneficiaria di Hollar ammonta a 15.572 azioni (più 96 azioni DRIP e RSU non maturate precedentemente segnalate). Il risultato netto è un incremento di circa 898 azioni, indicando un lieve aumento dell’esposizione interna. Non restano titoli derivati dall’assegnazione di opzioni del 2017; sono invece ancora in essere 2.927 opzioni di un’assegnazione del 2018.

L’esercizio di opzioni da parte di un insider quando il prezzo di mercato supera significativamente il prezzo di esercizio (� 43%) può indicare fiducia da parte del management ed è generalmente interpretato positivamente, anche se la cessione parziale delle azioni attenua leggermente questo segnale. La transazione non influisce sui risultati economici né sulle previsioni, ma può interessare gli investitori che seguono il sentiment degli insider.

Franklin Financial Services (FRAF) � Resumen de transacciones internas

El EVP/CFO Mark R. Hollar presentó un Formulario 4 para transacciones del 25/07/2025:

  • Ejercicio de opciones (Código M): adquisición de 3.000 acciones comunes al precio de ejercicio de $30,00.
  • Retención de acciones (Código F): 2.102 acciones entregadas al precio de mercado de $42,83 para financiar el ejercicio sin desembolso de efectivo.

Tras estas dos operaciones, la propiedad beneficiaria directa de Hollar es de 15.572 acciones (más 96 acciones DRIP y RSU no adquiridas previamente reportadas). El resultado neto es un aumento de aproximadamente 898 acciones, señalando un ligero incremento en la exposición interna. No quedan valores derivados de la concesión de opciones de 2017; todavía están pendientes 2.927 opciones de una concesión de 2018.

El ejercicio de opciones por parte de un insider cuando el precio de mercado supera significativamente el precio de ejercicio (� 43%) puede indicar confianza ejecutiva y generalmente se considera positivo, aunque la disposición parcial de acciones modera esta señal. La transacción no afecta ganancias ni pronósticos, pero puede interesar a los inversores que siguen el sentimiento de los insiders.

Franklin Financial Services (FRAF) � 내부� 거래 요약

EVP/CFO Mark R. Hollar가 2025� 7� 25� 거래� 대� Form 4� 제출했습니다:

  • 옵션 행사 (코드 M): 행사가� $30.00� 3,000� 보통� 취득.
  • 주식 원천징수 (코드 F): 현금 없는 행사 자금 조달� 위해 시가 $42.83� 2,102� 주식 반환.

� � 거래 � Hollar� 직접� 실질 소유�15,572� (추가� 96� DRIP 주식� 이전� 보고� 미확� RSU 포함)입니�. � 결과� � 898� 증가�, 내부� 노출� 다소 증가했음� 나타냅니�. 2017� 옵션 부여로 인한 파생 증권읶 남아 있지 않으�, 2018� 부여된 2,927 옵션읶 여전� 미행� 상태입니�.

시장 가격이 행사가� 크게 상회� �(� 43%) 내부자가 옵션� 행사하는 것읶� 경영진의 신뢰� 나타� � 있으� 일반적으� 긍정적으� 평가됩니�. 다만 일부 주식 처분읶 이러� 신호� 다소 완화합니�. � 거래� 수익이나 가이던스에 영향� 미치지 않지�, 내부� 심리� 추적하는 투자자들에게� 관� 대상이 � � 있습니다.

Franklin Financial Services (FRAF) � Résumé des transactions d’initiés

Le EVP/CFO Mark R. Hollar a déposé un formulaire 4 concernant des transactions du 25/07/2025 :

  • Exercice d’options (Code M) : acquisition de 3 000 actions ordinaires au prix d’exercice de 30,00 $.
  • Retenue d’actions (Code F) : 2 102 actions remises au prix du marché de 42,83 $ pour financer l’exercice sans décaissement.

Après ces deux opérations, la possession bénéficiaire directe de Hollar s’élève à 15 572 actions (plus 96 actions DRIP et des RSU non acquises précédemment déclarées). Le résultat net est une augmentation d’environ 898 actions, indiquant une légère hausse de l’exposition des initiés. Aucun titre dérivé ne subsiste de la subvention d’options de 2017 ; 2 927 options d’une attribution de 2018 sont encore en circulation.

L’exercice d’options par un initié lorsque le prix du marché dépasse significativement le prix d’exercice (� 43 %) peut refléter la confiance des dirigeants et est généralement perçu positivement, bien que la cession partielle des actions modère ce signal. La transaction n’impacte ni les résultats ni les prévisions, mais peut intéresser les investisseurs suivant le sentiment des initiés.

Franklin Financial Services (FRAF) � Zusammenfassung der Insider-Transaktionen

EVP/CFO Mark R. Hollar reichte ein Formular 4 für Transaktionen am 25.07.2025 ein:

  • Optionsausübung (Code M): Erwerb von 3.000 Stammaktien zum Ausübungspreis von 30,00 $.
  • Aktieneinbehalt (Code F): 2.102 Aktien wurden zum Marktpreis von 42,83 $ abgegeben, um die barlose Ausübung zu finanzieren.

Nach diesen beiden Buchungen beträgt Hollars direkter wirtschaftlicher Eigentumsanteil 15.572 Aktien (plus 96 DRIP-Aktien und zuvor gemeldete nicht übertragene RSUs). Das Nettoergebnis ist eine Steigerung um etwa 898 Aktien, was auf eine moderate Erhöhung der Insider-Position hinweist. Es verbleiben keine Derivate aus der Optionszuteilung von 2017; 2.927 Optionen aus einer Zuteilung von 2018 sind noch offen.

Die Ausübung von Optionen durch Insider, wenn der Marktpreis den Ausübungspreis deutlich übersteigt (� 43%), kann auf Vertrauen des Managements hinweisen und wird generell positiv bewertet, obwohl die teilweise Veräußerung der Aktien das Signal etwas abschwächt. Die Transaktion wirkt sich nicht auf Gewinn oder Prognosen aus, könnte aber für Anleger, die das Insider-Sentiment verfolgen, von Interesse sein.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 25, 2025

 

 

Civista Bancshares, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Ohio

001-36192

34-1558688

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

100 East Water Street

 

Sandusky, Ohio

 

44870

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (419) 625 - 4121

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common shares, no par value

 

CIVB

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


Item 7.01 Regulation FD Disclosure.

On July 29th through July 30th, senior management of Civista Bancshares, Inc. (“Civista”) will meet with investors while attending the 26th Annual KBW Community Bank Investor Conference located in New York, New York. A copy of the investor presentation is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Current Report on Form 8-K is being furnished under Item 7.01 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Civista Bancshares, Inc., is a $4.2 billion financial holding company headquartered in Sandusky, Ohio. Its primary subsidiary, Civista Bank, was founded in 1884 and provides full-service banking, commercial lending, mortgage, and wealth management services. Today, Civista Bank operates 42 locations across Ohio, Southeastern Indiana and Northern Kentucky. Civista Bank also offers commercial equipment leasing services for businesses nationwide through its Civista Leasing and Finance Division. Civista Bancshares’ common shares are traded on the NASDAQ Capital Market under the symbol “CIVB”. Learn more at www.civb.com.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibit 99.1 Investor Presentation of Civista Bancshares, Inc. for period ended June 30, 2025

Exhibit 104 Cover Page Interactive File-the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Civista Bancshares, Inc.

 

 

 

 

Date:

July 25, 2025

By:

/s/ Ian Whinnem

 

 

 

Ian Whinnem
Executive Vice President & Chief Financial Officer

 


FAQ

What did FRAF’s CFO do according to the 07/25/2025 Form 4?

He exercised 3,000 options at $30 and surrendered 2,102 shares at $42.83, netting an increase of about 898 shares.

How many FRAF shares does Mark R. Hollar now own?

After the reported transactions, he directly owns 15,572 common shares, plus 96 DRIP shares and unvested RSUs.

Why were 2,102 shares disposed of during the option exercise?

They were withheld at the $42.83 market price to fund the cashless exercise and related taxes, a common method to avoid cash payment.

Are any options still outstanding for the CFO?

Yes, 2,927 incentive stock options from a 2018 grant (strike $34.10) remain unexercised, expiring 02/22/2028.

Does this insider transaction affect FRAF’s financial statements?

No. The filing only reports changes in insider ownership and has no direct impact on revenue, earnings, or guidance.
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