[Form 4] RBB Bancorp Insider Trading Activity
Rhea-AI Filing Summary
RBB Bancorp EVP and Chief Operations Officer Gary Fan exercised restricted stock units into common shares as part of his compensation. On this date, 1,315 restricted stock units converted into 1,315 shares of common stock at an exercise price of $20.43 per share.
Of these shares, 472 were withheld to cover tax obligations, leaving 843 net new shares from this vesting and 1,437 common shares held directly after the transactions. Fan also continues to hold derivative awards, including 18,000 stock options at an exercise price of $21.17 expiring in 2032, as well as multiple restricted stock unit and performance stock unit grants that may convert into additional common shares over time. The filing also corrects an earlier reporting error that had overstated certain RSU and PSU grants and clarifies that those awards will be settled in common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,315 | $0.00 | -- |
| Exercise | Common Stock, No Par Value | 1,315 | $20.43 | $27K |
| Tax Withholding | Common Stock, No Par Value | 472 | $20.43 | $10K |
| holding | Options | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
Footnotes (1)
- These options vest in five equal annual installments beginning one year after the 12/05/2022 date of grant. These restricted stock units vest in three equal installments beginning one year after 02/21/2024 date of grant. There will be no expiration date once restricted stock units vest. These restricted stock units vest in three equal installments beginning one year after 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 installments beginning one year after 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.
