SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Maintain Significant Stake in TRICO BANCSHARES, Filing Amended 13G

FMR LLC and Abigail P. Johnson have filed an Amendment No. 8 to their Schedule 13G, disclosing a continued beneficial ownership of 8.8% of TRICO BANCSHARES' common stock as of December 31, 2024.

Summary

• FMR LLC and Abigail P. Johnson jointly filed an Amendment No. 8 to Schedule 13G regarding their beneficial ownership in TRICO BANCSHARES.
• As of December 31, 2024, FMR LLC and Abigail P. Johnson collectively beneficially own 2,889,943 shares of TRICO BANCSHARES Common Stock.
• This ownership represents 8.8% of the total outstanding class of TRICO BANCSHARES Common Stock.
• FMR LLC holds sole voting power over 2,889,455 shares and sole dispositive power over 2,889,943 shares.
• Abigail P. Johnson holds sole dispositive power over 2,889,943 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of TRICO BANCSHARES.
• FMR LLC is classified as a parent holding company or control person (HC), and Abigail P. Johnson is classified as an individual (IN).
• Subsidiaries of FMR LLC, including Fidelity Institutional Asset Management Trust Company (BK) and Fidelity Management & Research Company LLC (IA), are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater.

Sentiment

Score: 5

Explanation: The document is a factual, legally mandated disclosure of beneficial ownership and does not contain information that would inherently suggest a positive or negative sentiment regarding the issuer's operational performance or future prospects. It is a neutral, routine filing.

Positives

• The continued significant stake by a major institutional investor like FMR LLC may signal confidence in TRICO BANCSHARES' long-term prospects.
• The filing explicitly states that the securities are held in the ordinary course of business and not for the purpose of influencing control, indicating a passive investment approach.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding TRICO BANCSHARES' future performance or strategic direction.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing represents a routine disclosure of a significant passive investment by a large asset management firm (FMR LLC) in a regional bank (TRICO BANCSHARES). Such filings are common for institutional investors maintaining substantial, non-controlling stakes in publicly traded companies within the financial sector.

Related Party Transactions

• The document details the relationship between FMR LLC and Abigail P. Johnson, noting that members of the Johnson family, including Abigail P. Johnson, are predominant owners of FMR LLC's Series B voting common shares (49% voting power) and have a shareholders' voting agreement, which may lead them to be deemed a controlling group with respect to FMR LLC under the Investment Company Act of 1940.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional ownership stake in the company.

Key Dates

Recommendation

Keywords

TRICO BANCSHARES, FMR LLC, Abigail P. Johnson, Schedule 13G, beneficial ownership, common stock, institutional investment, financial services