Regional Bank CEO Sells Shares to Cover Tax Obligations
Paul A. Perrault, President and CEO of Beacon Financial Corporation (BBT), sold 4,333 shares on September 1, 2026, as part of a non-discretionary transaction related to tax withholding from the vesting of restricted stock awards. The sale was not indicative of any change in his investment strategy but rather an automatic process tied to pre-arranged equity compensation terms. Following this transaction, Perrault retained direct ownership of 254,316 shares and indirect holdings via a GRAT totaling 31,500 shares, with the combined stake valued at $8.7 million as of September 1 market close. The company's stock closed at $30.39 per share on that date. Beacon Financial Corporation remains aligned with long-term performance through its equity incentive structure and continues to operate across traditional banking services including commercial lending, deposit management, and wealth advisory.
Tickers: $BBT
Topics: CEO activity restricted stock awards stock transactions