Regions Financial Corp. reported an insider ownership change for Timothy Vines on July 15, 2026, involving derivative securities tied to the company’s common stock. The Form 4, filed July 17, 2026, indicates that the reported security was phantom stock accrued under Regions’ director compensation arrangements rather than a conventional open-market purchase or sale of RF common shares. The filing’s explanatory notes state that each share of phantom stock represents the right to receive the cash value of one share of Regions Financial common stock. Vines has elected to receive phantom stock instead of cash compensation payable under Regions’ Director Compensation Program. These phantom stock units are credited under the company’s Directors’ Deferred Investment Plan on the date the director fees otherwise would have been paid, which the filing describes as quarterly, in arrears. The phantom stock is cash-settled after Vines ends his service as a director. According to the filing, the balance is payable in cash either as a lump sum or in up to 10 annual installments, at Vines’s election, within 30 days after the close of the plan year in which his director service terminates. The reported balance also includes quarterly cash dividends that were deemed reinvested into additional phantom stock. The provided filing text does not disclose the specific number of phantom stock units acquired or held after the transaction, nor does it show a transaction price or transaction code. Based on the notes, however, the action appears to be a deferred-compensation accrual and dividend-reinvestment-related update, not a cash purchase or sale in the market. The filing was signed on Vines’s behalf by Elizabeth H. Townsend as attorney-in-fact on July 17, 2026.