David L. Bumgarner, who serves as Executive Vice President and Chief Financial Officer at City Holding Co. (NASDAQ:CHCO), publicly reported a sale of common stock totaling $144,544 on May 22, 2026. The details of this transaction indicate that Mr. Bumgarner disposed of 1,161 shares, with each share sold at a price point of $124.50. At the time of reporting, the stock was trading near its sale price, at $125.09, and held a market capitalization of $1.77 billion.
Following this reported divestiture, Mr. Bumgarner's direct holdings in City Holding Co. common stock were adjusted to 10,666.146 shares. His total stake remains diversified across various vehicles: he maintains an indirect holding of 3,073.7288 shares through a 401(k) Plan and Trust, based on the plan's valuation date of December 31, 2024. Furthermore, an additional allotment of 115 shares is held indirectly via an IRA.
The regional bank holding company has established a notable dividend history, having successfully increased its dividend for fourteen consecutive years, according to analysis provided by InvestingPro. Current data shows the stock offering a dividend yield of 2.79% and suggests that, based on InvestingPro's Fair Value assessment, the security may be undervalued.
Executive Holdings and Vesting Schedules
Mr. Bumgarner's portfolio also includes multiple tranches of restricted stock units (RSUs), which grant the right to receive one share of common stock upon settlement. These vested units are scheduled across several years, illustrating a staggered release plan:
- 170 RSUs are set to vest in equal portions over February 23, 2023, 2024, and 2025.
- Another tranche of 379 RSUs is slated to vest on February 22, 2024, 2025, and 2026.
- A third set of 615 RSUs will vest over February 23, 2025, 2026, and 2027.
- Additionally, 524 RSUs are scheduled to vest across March 21, 2026, 2027, and 2028.
- The final reported group consists of 534 RSUs vesting on February 25, 2027, 2028, and 2029.
Corporate Governance and Strategic Moves
In recent corporate developments, City Holding Company announced a significant leadership transition within its banking operations. Michael T. Quinlan, Jr., who has been affiliated with the company since January 2021 as executive vice president of retail banking, was appointed the new president of City National Bank of West Virginia. This appointment shifts the previous role from Charles