That's because the bank's FirstShare stock options vested today after being granted on this date three years ago.
Stock options allow a person to buy stock at a future date at a price set on the grant date.
If the stock price grows, the option allows that person to buy stock at a savings. Stock options are awarded to employees for their contributions to the company's performance and to encourage them to think and act like owners of the company. First Tennessee was one of the first 25 or so companies in the country to grant stock options to all employees. Competition in financial services is fierce, and we have some of the very best people in the business ready to serve our First Tennessee customers. FirstShare is our way of recognizing and rewarding their commitment.