Director Merrill W. Sherman filed a Form 4 with the SEC on August 19, 2026, disclosing a gift transfer of 23,421 shares of Beacon Financial Corp common stock to a personal trust and reporting resulting beneficial ownership positions.

Key Highlights

  • Transaction date: August 19, 2026, involving Beacon Financial Corp (BBT)
  • Shares transferred: 23,421 shares of common stock disposed of directly via a gift transaction (code G) at a price of $0
  • Receiving entity: The same 23,421 shares were acquired indirectly through The Merrill W. Sherman Trust - 2017
  • Remaining direct ownership: 2,509 shares held directly following the reported transaction, per footnote 1
  • Share nature: According to the filing, the shares are restricted shares granted pursuant to the 2025 Beacon Financial Corporation Stock Option and Incentive Plan, vesting one year from the date of grant
  • Reporting person role: Merrill W. Sherman is identified as a Director of Beacon Financial Corp
  • Filing authority: The form was signed by Marissa S. Martin under power of attorney on behalf of Sherman

Merrill W. Sherman Transfers Restricted Shares to Personal Trust at Beacon Financial Corp

According to the Form 4 filed with the SEC, Merrill W. Sherman, a director of Beacon Financial Corp (listed with ticker BBT), reported a gift transfer of 23,421 shares of common stock on August 19, 2026. The transaction code recorded is "G," indicating a gift, and the price per share is listed as $0. The filing covers shares of Beacon Financial Corp common stock only and includes no derivative securities transactions.

The filing discloses two simultaneous entries for the August 19, 2026 transaction. In the first, 23,421 shares are recorded as disposed of from Sherman's direct holdings, reducing that position to 2,509 shares held directly. In the second entry, the same 23,421 shares are recorded as acquired indirectly through The Merrill W. Sherman Trust - 2017, with Sherman now reporting 23,421 shares beneficially owned through that trust. The filing notes that these are "restricted shares granted pursuant to the 2025 Beacon Financial Corporation Stock Option and Incentive Plan" and that "the shares vest one year from date of grant."

The Form 4 was filed by one reporting person and was signed by Marissa S. Martin under a power of attorney on Sherman's behalf on August 19, 2026. No amendment date is listed, indicating this is an original filing rather than a revision to a previously filed form.

What Was Disclosed

Director Merrill W. Sherman reported a gift transfer of 23,421 restricted common shares of Beacon Financial Corp to The Merrill W. Sherman Trust - 2017, with 2,509 shares remaining in direct ownership and 23,421 shares now held indirectly through the trust.