Customers Bancorp chair reports tax share withholding
Customers Bancorp Chairman Jay S. Sidhu reported a routine tax-withholding transaction in company common stock.
Rhea-AI Filing Summary
Customers Bancorp Chairman Jay S. Sidhu reported a routine tax-withholding transaction in company common stock. On April 8, 2026, 1,461 shares were withheld at $73.80 per share to cover taxes upon vesting of a previously issued restricted stock award.
After this event, Sidhu directly holds 806,120 shares of common stock, which include 33,958 Restricted Stock Units. He also has additional indirect interests through a spouse account and several family trusts, with reported holdings of 3,701, 213,560, 181,825, and 158,552 shares respectively.
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Insider Trade Summary
Exercise Price or Tax Liability: 1,461 shares
Exercise Price or Tax Liability
5 txns
Insider
SIDHU JAY S
Role
Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 1,461 | $73.80 | $108K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 806,120 shares (Direct);
Common Stock — 3,701 shares (Indirect, Spouse);
Common Stock — 553,937 shares (Indirect, Trust)
Footnotes (6)
- F1. Shares withheld for taxes upon vesting of previously issued restricted stock award.
- F2. Includes 33,958 Restricted Stock Units.
- F3. Shares held in Sherry Sidhu Individual Account
- F4. Jay S. Sidhu, A/K/A Jashpinder S. Sidhu, FBO Sherry K. Sidhu, A/K/A Pushpinder K. Sidhu, and Descendants Irrevocable Trust.
- F5. Sherry K. Sidhu, A/K/A Pushpinder K. Sidhu, Family Trust No. 1.
- F6. Sherry K. Sidhu, A/K/A Pushpinder K. Sidhu, Family Trust No. 2.
Key Figures
Tax-withheld shares: 1,461 shares
Tax-withholding price: $73.80 per share
Direct shares after transaction: 806,120 shares
+5 more
8 metrics
Tax-withheld shares
1,461 shares
Withheld for taxes on restricted stock vesting at $73.80 on April 8, 2026
Tax-withholding price
$73.80 per share
Value used for the 1,461-share tax-withholding disposition
Direct shares after transaction
806,120 shares
Direct Customers Bancorp common stock held by Jay S. Sidhu after transaction
Restricted Stock Units included
33,958 RSUs
Restricted Stock Units included within Sidhu’s 806,120 direct shares
Spouse account holdings
3,701 shares
Indirect ownership via Sherry Sidhu individual account
Trust holdings 1
213,560 shares
Indirect ownership via irrevocable trust for Sherry K. Sidhu and descendants
Trust holdings 2
181,825 shares
Indirect ownership via Sherry K. Sidhu Family Trust No. 1
Trust holdings 3
158,552 shares
Indirect ownership via Sherry K. Sidhu Family Trust No. 2
Key Terms
restricted stock award, Restricted Stock Units, tax-withholding disposition, indirect ownership, +1 more
5 terms
restricted stock award financial
"Shares withheld for taxes upon vesting of previously issued restricted stock award."
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
Restricted Stock Units financial
"Includes 33,958 Restricted Stock Units."
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.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
indirect ownership financial
"direct_or_indirect": "I", "nature_of_ownership": "Spouse""
Family Trust financial
"Family Trust No. 1. ... Family Trust No. 2."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Customers Bancorp (CUBI) report for Jay S. Sidhu?
Customers Bancorp reported that Chairman Jay S. Sidhu had 1,461 common shares withheld at $73.80 per share to satisfy taxes on a vesting restricted stock award. This is a tax-withholding disposition, not an open-market sale or purchase, and reflects routine compensation-related activity.
What indirect Customers Bancorp holdings are associated with Jay S. Sidhu?
Indirect holdings reported with Jay S. Sidhu include 3,701 shares in a spouse’s individual account and three family trusts holding 213,560, 181,825, and 158,552 shares. These positions reflect shares held for the benefit of family members and trusts, distinct from his direct ownership.
What role do Restricted Stock Units play in Jay S. Sidhu’s Customers Bancorp position?
Sidhu’s direct holding of 806,120 Customers Bancorp shares includes 33,958 Restricted Stock Units. These units typically represent rights to receive shares upon vesting, forming part of his equity-based compensation and aligning his interests with the company’s long-term performance.
AI-generated analysis. How Rhea-AI works. Not financial advice.
