OP Bancorp Insider Brian Choi Converts RSUs, Now Holds 1.3 M Shares

Rhea-AI Filing Summary

OP Bancorp (OPBK) Form 4 filing dated June 27, 2025 reports an insider transaction by director Brian Choi. On June 26, 2025 Mr. Choi exercised 4,516 previously granted Restricted Stock Units (RSUs) that vested the same day, receiving an equal number of common shares at a stated price of $0 under code “M” (conversion of derivative security). The RSUs were originally granted on June 27, 2024.

Following the conversion Mr. Choi’s direct beneficial ownership increased to 1,308,078 common shares. No derivative securities remain from this award. The filing does not reference open-market purchases or sales, cash proceeds, or additional equity plans; it solely reflects the automatic settlement of a one-year vesting award. No other classes of securities were affected and there is no indication of a Rule 10b5-1 trading plan.

For investors, the filing shows (1) continued board-level equity alignment through a modest increase in stock ownership, and (2) no disposition of shares that could signal negative sentiment. Given the small size of the award relative to existing holdings and OP Bancorp’s public float, the transaction is unlikely to have a material impact on share supply-demand dynamics.

Positive

• Director increased direct ownership by 4,516 shares, reinforcing insider-shareholder alignment.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; minor ownership rise, neutral market impact.

The Form 4 details a 4,516-share RSU conversion by director Brian Choi. Because the shares were acquired at $0 and not sold, float expansion is negligible and there is no price signal from a sale. Choi’s aggregate stake now stands at 1.3 million shares—still meaningful, reinforcing insider alignment. However, the absolute increase (<0.4 % of his holdings, far less versus total shares outstanding) is immaterial for valuation. I view the filing as routine and neutral for OPBK’s investment thesis.

Corporate Governance Expert

TL;DR: Governance-friendly; demonstrates vesting discipline, but not strategically significant.

The one-year vesting RSU schedule suggests OP Bancorp uses short-term equity incentives for directors, aligning compensation with shareholder returns. The absence of immediate disposal indicates confidence or at least no liquidity need. Still, the volume is too small to influence governance risk assessments or trigger proxy-advisory concern. Overall governance signal is slightly positive, yet financially not impactful.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CHOI BRIAN

(Last) (First) (Middle)

1000 WILSHIRE BLVD. SUITE 500

(Street)

LOS ANGELES CA 90017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
OP Bancorp [ OPBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/26/2025		M		4,516	A	(1)	1,308,078	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	06/26/2025		M			4,516	(2)	(2)	Common Stock	4,516	$0	0	D

Explanation of Responses:

1. Restricted stock units convert to shares of common stock on a one-for-one basis.

2. On June 27, 2024, the reporting person was granted 4,516 shares of restricted stock units, vesting on June 26, 2025.

Remarks:

	/s/ Jaehyun Park attorney-in-fact for Brian Kim	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did OPBK report on June 27, 2025?

Director Brian Choi converted 4,516 RSUs into common stock on June 26, 2025.

How many OP Bancorp shares does Brian Choi now own?

After the transaction, he beneficially owns 1,308,078 common shares directly.

Was any cash paid or received in the RSU conversion?

No. The RSUs converted at $0 per share; no sale or purchase occurred.

Did the filing indicate a Rule 10b5-1 trading plan?

The form does not reference any Rule 10b5-1 plan.

Are any derivative securities still held by the insider?

No. 0 derivative securities remain from this award after conversion.