Cathay General Bancorp (CATY) CEO granted 35,998 performance-based RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Liu Chang reported acquisition or exercise transactions in this Form 4 filing.
CATHAY GENERAL BANCORP President & CEO Liu Chang received new equity awards in the form of Restricted Stock Units (RSUs). On June 26, 2026, Liu was granted 17,727, 8,863, and 9,408 RSUs, for a total of 35,998 units. Each RSU represents a right to receive one share of common stock if specified conditions are met. The actual number of shares earned can range from 0% to 150% of the target award based on performance criteria. These RSUs are scheduled to vest in a single installment on December 31, 2028, subject to continued employment, with potential earlier vesting in cases such as death, disability, certain retirement, or a change in control. Following the reported transactions, Liu directly holds 127,819 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Liu Chang
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 9,408 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 8,863 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 17,727 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 9,408 shares (Direct, null);
Common Stock — 127,819 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit represented a contingent right to receive one share of Common Stock upon vesting. The number of restricted stock units that are earned can be reduced by up to 100% of the target award or increased by up to 150% of the target award, depending upon the achievement of certain performance criteria. These restricted stock units are scheduled to vest in a single installment on December 31, 2028, subject to continued employment, but may vest to some extent earlier in the event of death, disability, retirement after December 31, 2027 or a change in control, with the number of units earned being based on the achievement of certain performance criteria.
Key Figures
RSU grant 1: 17,727 RSUs
RSU grant 2: 8,863 RSUs
RSU grant 3: 9,408 RSUs
+4 more
7 metrics
RSU grant 1
17,727 RSUs
Grant on June 26, 2026
RSU grant 2
8,863 RSUs
Grant on June 26, 2026
RSU grant 3
9,408 RSUs
Grant on June 26, 2026
Total RSUs granted
35,998 RSUs
Aggregate of three awards on June 26, 2026
Common shares held
127,819 shares
Direct ownership after reported transactions
Performance range
0%–150% of target
RSUs earned based on performance criteria
Vesting date
December 31, 2028
Scheduled single-installment vesting for RSUs
Key Terms
Restricted Stock Units, performance criteria, change in control
3 terms
Restricted Stock Units financial
"Each restricted stock unit represented a contingent right to receive one share of Common Stock upon vesting."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
performance criteria financial
"The number of restricted stock units that are earned can be reduced by up to 100% or increased by up to 150% of the target award, depending upon the achievement of certain performance criteria."
change in control financial
"These restricted stock units are scheduled to vest in a single installment on December 31, 2028, subject to continued employment, but may vest to some extent earlier in the event of death, disability, retirement after December 31, 2027 or a change in control."
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
FAQ
What did CATHAY GENERAL BANCORP (CATY) report in this Form 4 for Liu Chang?
The Form 4 shows President & CEO Liu Chang received multiple Restricted Stock Unit grants totaling 35,998 units. These compensation awards may convert into common shares if performance goals are achieved and employment conditions are satisfied through the vesting date.
How many Restricted Stock Units did CATY CEO Liu Chang receive in this filing?
Liu Chang received 17,727, 8,863, and 9,408 Restricted Stock Units, totaling 35,998 units. Each unit can convert into one share of common stock, subject to performance criteria and continued employment through the scheduled vesting date in late 2028.
When do Liu Chang’s new CATY Restricted Stock Units vest?
The reported Restricted Stock Units are scheduled to vest in a single installment on December 31, 2028. Vesting remains subject to continued employment, with possible earlier vesting upon death, disability, certain retirement conditions, or a qualifying change in control event under the plan terms.
Are Liu Chang’s CATY RSU awards performance-based?
Yes. The number of Restricted Stock Units ultimately earned can be reduced to 0% or increased to 150% of the target. The final payout depends on achieving specified performance criteria defined under the company’s compensation plan for these awards.
What triggers early vesting of Liu Chang’s CATY Restricted Stock Units?
Early vesting may occur upon death, disability, retirement after December 31, 2027, or a change in control. In any such case, the number of Restricted Stock Units actually earned still depends on achieving the specified performance criteria set for these awards.