What administrative error related to RBB Bancorp equity awards was corrected?

A prior Form 4 filed on May 12, 2025 overstated RSU and PSU grants from May 8, 2025 and omitted transactional details in Table II. The current disclosure corrects those amounts and clarifies that the RSU and PSU grants will be settled in RBB Bancorp common stock.

RBB Bancorp (RBB) CEO exercises 2,740 RSUs, withholds shares for tax

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

RBB Bancorp President and CEO Johnny C. Lee exercised 2,740 restricted stock units into common shares at $20.43 per share. Of these, 984 shares were withheld to cover tax obligations, leaving him with 11,876 common shares held directly. The filing also updates his remaining restricted and performance stock unit awards and corrects an earlier administrative error regarding May 8, 2025 grants, clarifying that future RSU and PSU grants will be settled in common stock.

Insider Trade Summary

2,740 shares exercised/converted

Mixed 8 txns

Insider LEE JOHNNY C

Role President/CEO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	2,740	$0.00	--
Exercise	Common Stock, No Par Value	2,740	$20.43	$56K
Tax Withholding	Common Stock, No Par Value	984	$20.43	$20K
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Performance Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Performance Stock Units	--	--	--

Holdings After Transaction: Restricted Stock Units — 2,740 shares (Direct); Common Stock, No Par Value — 12,860 shares (Direct); Performance Stock Units — 12,332 shares (Direct)

Footnotes (1)

These restricted stock units vest in three equal annual installments beginning one year after the 07/20/2023 date of grant. There will be no expiration date once restricted stock units vest. These restricted stock units vest in three equal annual installments beginning one year after the 02/21/2024 date of grant. These restricted stock units vest in three equal annual installments beginning one year after the 03/20/2024 date of grant. These performance stock units ("PSUs") will vest conditionally on the achievement of certain performance goals and an employment condition. The reported PSUs will vest at the expiration of a three-year period beginning on 03/20/2024 subject to the Reporting Person's satisfaction of the employment condition. These restricted stock units vest in three equal annual installments beginning one year after the 05/08/2025 date of grant. Performance Stock Units ("PSUs") to vest conditionally on the achievement of certain performance goals and an employment condition. The PSUs are awarded at a target level and have the opportunity to vest at 150% of such target level; The reported PSUs represent the maximum award that may be achieved and ultimately vest. The reported PSUs will vest at the expiration of a three-year period beginning on 05/08/2025 subject to the Reporting Person's satisfaction of the employment condition. On May 12, 2025 due to an administrative error, the Reporting Person filed a Form 4 which inadvertently omitted information from the transactional columns in Table II and overstated the amount of RSUs and PSUs granted to the Reporting Person on May 8, 2025. The Form 4 has also been amended to clarify that grants of RSUs and PSUs will be settled in common stock.

Form 4 Insider Transactions: What Each Field Means →

03/24/2026 - 03:17 PM

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
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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^*

LEE JOHNNY C

(Last)

(First)

(Middle)

1055 WILSHIRE BLVD

SUITE 1200

(Street)

LOS ANGELES

CALIFORNIA

90017

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, No Par Value	03/20/2026		M		2,740	A	$20.43	12,860	D
Common Stock, No Par Value	03/20/2026		F		984	D	$20.43	11,876	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0.0000							⁽³⁾	⁽²⁾	Common Stock⁽⁸⁾	1,098		1,098	D
Restricted Stock Units	$0.0000							⁽¹⁾	⁽²⁾	Common Stock⁽⁸⁾	5,500		5,500	D
Restricted Stock Units	$20.43	03/20/2026		M			2,740	⁽⁴⁾	⁽²⁾	Common Stock⁽⁸⁾	5,480	$0	2,740	D
Performance Stock Units	$0.0000							⁽⁵⁾	⁽²⁾	Common Stock⁽⁸⁾	12,332		12,332	D
Restricted Stock Units	$0.0000							⁽⁶⁾	⁽²⁾	Common Stock⁽⁸⁾	13,068⁽⁸⁾		13,068⁽⁸⁾	D
Performance Stock Units	$0.0000							⁽⁷⁾	⁽²⁾	Common Stock⁽⁸⁾	19,602⁽⁸⁾		19,602⁽⁸⁾	D

Explanation of Responses:

1. These restricted stock units vest in three equal annual installments beginning one year after the 07/20/2023 date of grant.

2. There will be no expiration date once restricted stock units vest.

3. These restricted stock units vest in three equal annual installments beginning one year after the 02/21/2024 date of grant.

4. These restricted stock units vest in three equal annual installments beginning one year after the 03/20/2024 date of grant.

5. These performance stock units ("PSUs") will vest conditionally on the achievement of certain performance goals and an employment condition. The reported PSUs will vest at the expiration of a three-year period beginning on 03/20/2024 subject to the Reporting Person's satisfaction of the employment condition.

6. These restricted stock units vest in three equal annual installments beginning one year after the 05/08/2025 date of grant.

7. Performance Stock Units ("PSUs") to vest conditionally on the achievement of certain performance goals and an employment condition. The PSUs are awarded at a target level and have the opportunity to vest at 150% of such target level; The reported PSUs represent the maximum award that may be achieved and ultimately vest. The reported PSUs will vest at the expiration of a three-year period beginning on 05/08/2025 subject to the Reporting Person's satisfaction of the employment condition.

8. On May 12, 2025 due to an administrative error, the Reporting Person filed a Form 4 which inadvertently omitted information from the transactional columns in Table II and overstated the amount of RSUs and PSUs granted to the Reporting Person on May 8, 2025. The Form 4 has also been amended to clarify that grants of RSUs and PSUs will be settled in common stock.

Remarks:

Shares issued for vesting of 3/20/2024 RSU grant and shares disposed in settlement of tax withholding obligations for such RSU vesting.

	/s/ Johnny Lee	03/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did RBB Bancorp (RBB) CEO Johnny C. Lee report in this Form 4?

Johnny C. Lee reported exercising 2,740 restricted stock units into common shares at $20.43 each. The filing also shows tax-related share withholding and updates his remaining RSU and PSU awards, including corrections to a prior administrative filing error.

How many RBB Bancorp shares does the CEO hold after these transactions?

After these transactions, Johnny C. Lee directly holds 11,876 shares of RBB Bancorp common stock. This reflects the RSU conversion and the shares withheld to cover tax obligations associated with the vesting and settlement of the equity award.

Were any of the RBB Bancorp CEO’s shares sold on the open market?

No open-market sales were reported. The only disposition was 984 shares withheld by the company to satisfy tax liabilities, coded as an F transaction, which represents tax withholding rather than a discretionary market sale by the CEO.

What do the remaining RSUs and PSUs for RBB Bancorp’s CEO look like?

The filing lists several remaining restricted stock unit and performance stock unit awards tied to RBB Bancorp common stock. These units vest over multi-year periods, often in three equal annual installments or after three-year performance periods, subject to continued employment and performance goals.

How do performance stock units for RBB Bancorp’s CEO vest under this filing?

Performance stock units vest based on performance goals and continued employment over three-year periods beginning March 20, 2024 or May 8, 2025. Some PSUs are reported at a maximum 150% of target, representing the highest possible award that may ultimately vest in common stock.