RBB Bancorp (RBB) CEO reports RSU exercise and tax share withholding
Rhea-AI Filing Summary
RBB Bancorp President and CEO Johnny C. Lee reported equity award activity involving restricted stock units, performance stock units, and common shares. On February 20, 2026, he exercised 1,098 restricted stock units, which converted into the same number of common shares at a price of $22.20 per share.
To cover associated tax obligations, 453 common shares were withheld and disposed of at $22.20 per share, leaving him with 10,120 common shares held directly after these transactions. Footnotes explain that multiple RSU and PSU grants vest in three equal annual installments or after three-year performance periods, subject to continued employment and performance goals, and clarify an earlier Form 4 that overstated May 8, 2025 awards.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 645 shares
Net Buy
8 txns
Insider
LEE JOHNNY C
Role
President/CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,098 | $0.00 | $0.00 |
| Exercise | Common Stock, No Par Value | 1,098 | $22.20 | $24K |
| Exercise Price or Tax Liability | Common Stock, No Par Value | 453 | $22.20 | $10K |
| 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 — 30,448 shares (Direct);
Common Stock, No Par Value — 10,120 shares (Direct);
Performance Stock Units — 31,934 shares (Direct)
Footnotes (8)
- F1. These restricted stock units vest in three equal annual installments beginning one year after the 07/20/2023 date of grant.
- F2. There will be no expiration date once restricted stock units vest.
- F3. These restricted stock units vest in three equal annual installments beginning one year after the 02/21/2024 date of grant.
- F4. These restricted stock units vest in three equal annual installments beginning one year after the 03/20/2024 date of grant.
- F5. 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.
- F6. These restricted stock units vest in three equal annual installments beginning one year after the 05/08/2025 date of grant.
- F7. 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.
- F8. 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.
FAQ
What insider transactions did RBB (RBB Bancorp) report for Johnny C. Lee?
RBB Bancorp reported that President and CEO Johnny C. Lee exercised 1,098 restricted stock units into common shares and had 453 common shares withheld to satisfy tax obligations. After these transactions, he directly held 10,120 common shares of RBB Bancorp.
How do RBB Bancorp restricted stock units and performance stock units vest for the CEO?
RBB Bancorp restricted stock units for the CEO generally vest in three equal annual installments starting one year after the grant date. Performance stock units vest over three-year periods, contingent on specified performance goals and an employment condition, with some grants allowing vesting up to 150% of target levels.
Did RBB Bancorp correct any prior reporting errors in this Form 4?
Yes. A footnote explains that a Form 4 filed on May 12, 2025 inadvertently overstated the number of RSUs and PSUs granted on May 8, 2025. The amendment also clarifies that those RSU and PSU grants will be settled in RBB Bancorp common stock.
What does transaction code M mean in RBB Bancorp’s Form 4 for the CEO?
In RBB Bancorp’s Form 4, transaction code M indicates an exercise or conversion of a derivative security. For CEO Johnny C. Lee, this reflects the conversion of 1,098 restricted stock units into the same number of common shares, rather than an open-market stock purchase.
AI-generated analysis. How Rhea-AI works. Not financial advice.
