Regions Financial Corp. reported an insider ownership change by Timothy Vines on July 15, 2026, involving derivative securities tied to the company’s common stock. The filing was signed on July 17, 2026, by Elizabeth H. Townsend as attorney-in-fact for Vines. The reported security is phantom stock under Regions’ Directors’ Deferred Investment Plan. According to the filing notes, each share of phantom stock represents the right to receive the cash value of one share of Regions Financial common stock. Vines elected to receive phantom stock instead of cash compensation payable under Regions’ Director Compensation Program. These phantom stock units are accrued quarterly, in arrears, on the dates when director fees otherwise would have been paid. The filing also states that quarterly cash dividends are deemed reinvested in additional phantom stock. Upon Vines’ termination of service as a director, the phantom stock will be paid in cash, either in a lump sum or in up to 10 annual installments, depending on his election. Payment is to occur within 30 days after the close of the plan year in which his director service ends. The supplied filing text does not include the transaction table showing the exact number of phantom stock units added, the number owned after the transaction, any transaction code, or a reported price. Based on the explanatory notes, however, this appears to be a compensation deferral transaction rather than an open-market purchase or sale of Regions common shares. Its significance is that Vines’ director compensation is being economically linked to Regions’ stock performance through cash-settled phantom stock, including dividend-equivalent reinvestment.