[8-K] Plumas Bancorp Reports Material Event

Rhea-AI Filing Summary

On 17 July 2025, Aptevo Therapeutics (APVO) filed a Form 4 reporting that SoYoung Kwon, SVP & General Counsel, converted 3 restricted stock units (RSUs) into an equal number of common shares (transaction code M). The RSUs carried a $0 exercise price and were part of an 8,550-unit grant (11 units post-reverse-split) awarded on 17 July 2024.

After the conversion, Kwon directly owns 4 common shares and retains 8 unvested RSUs, which are scheduled to vest in two additional annual installments through 17 July 2027. No open-market purchase or sale occurred, and the filing reflects an immaterial change in insider ownership.

Insights

Financial Analyst

TL;DR: Minor insider RSU vesting; negligible ownership change, low market impact.

The conversion of 3 RSUs into common shares marginally increases Kwon’s direct stake to four shares. Given Aptevo’s float, this is economically insignificant and provides little insight into management’s sentiment or near-term fundamentals. No cash outlay, sale, or option exercise price is involved, so dilution effects are de minimis. I view the disclosure as routine administrative reporting rather than a signal.

Corporate Governance Specialist

TL;DR: Routine Form 4 fulfills Section 16 obligation; governance impact neutral.

The filing demonstrates compliance with insider-trading disclosure rules. The tiny share count—post-reverse-split—and the absence of open-market activity mean alignment incentives are unchanged. Investors should not infer strategic intent from this vesting event. Impact on governance metrics (e.g., insider ownership percentage) is effectively nil.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2025

PLUMAS BANCORP

(Exact name of registrant as specified in its charter)

California		000-49883		75-2987096
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

5525 Kietzke Lane, Suite 100, Reno, Nevada		89511
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (775) 786-0907

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	PLBC	NASDAQ Capital Market

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(c) On July 21, 2025, Jack Prescott was appointed as Executive Vice President and Chief Banking Officer (“CBO”) of Plumas Bank, the sole subsidiary of Plumas Bancorp.

Mr. Prescott served as the Senior Vice President and Commercial Lending Manager at Plumas Bank for 2 years. He brings more than 35 years of experience in lending and leadership. Mr. Prescott earned a bachelor’s degree in business and agricultural economics from the University of Nevada, Reno.

Mr. Prescott does not have any family relationship with any of the Company’s directors or executive officers or any persons nominated or chosen by the Company to be a director or an executive officer. He has no direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K or Item 5.02(d) of Form 8-K.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

July 21, 2025	PLUMAS BANCORP
	By:	/s/ Richard L. Belstock
		Name: Richard L. Belstock
		Title: Chief Financial Officer

FAQ

How many APVO shares did SoYoung Kwon acquire on 17-Jul-2025?

The Form 4 shows the conversion of 3 RSUs into 3 common shares.

What does transaction code "M" mean in this APVO Form 4?

Code M indicates an exercise or conversion of a derivative security—in this case, RSUs—into common stock.

What is Kwon’s total APVO share ownership after the transaction?

Following the conversion, Kwon directly owns 4 APVO common shares.

How many RSUs remain unvested for SoYoung Kwon?

Kwon retains 8 unvested RSUs from the original 11-unit (post-split) grant.

Did the RSU conversion involve any cash payment?

No. The RSUs convert on a 1-for-1 basis at a $0 exercise price; no cash changed hands.