Form 4: Amerant Bancorp Inc. CFO Sharymar Calderon Reports Changes in Beneficial Ownership

Sharymar Calderon, CFO of Amerant Bancorp Inc., reports acquisition and disposal of Class A Common Stock and Restricted Stock Units.

Summary

• On February 18, 2025, Sharymar Calderon, the SEVP Chief Financial Officer of Amerant Bancorp Inc., filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
• Calderon acquired 3,056 shares of Class A Common Stock at $0, and disposed of 1,155 shares at $23.84 to cover tax obligations.
• She also acquired 833 Restricted Stock Units (RSUs) from the LTI 2023 plan and 2,223 RSUs from the LTI 2024 plan, and was awarded 7,471 RSUs and 7,472 Performance Based Restricted Stock Units (PSUs) from the LTI 2025 plan.
• Following these transactions, Calderon directly owns 9,417.2 shares of Class A Common Stock, 5,038 RSUs from LTI 2023, 4,446 RSUs from LTI 2024, 7,471 RSUs from LTI 2025, and 7,472 PSUs from LTI 2025.
• The PSUs' vesting is contingent upon the achievement of specific performance metrics related to Return on Average Total Common Equity and Total Shareholder Return over a three-year period.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing reflects standard compensation practices and insider transactions. The granting of equity-based compensation is a positive sign, aligning management's interests with shareholders. However, the vesting of PSUs is contingent on performance, introducing some uncertainty.

Positives

• The granting of RSUs and PSUs to the CFO aligns her interests with those of the shareholders, incentivizing performance and long-term value creation.

Risks

• The vesting of the PSUs is contingent upon achieving specific performance targets, which may not be met, potentially impacting the realized value of the awards.

Future Outlook

The vesting of the RSUs and PSUs is contingent upon continued service and, in the case of PSUs, the achievement of specific performance metrics over a three-year period.

Industry Context

Form 4 filings are a standard part of regulatory compliance for corporate insiders, providing transparency into their transactions in the company's stock. The granting of equity-based compensation is a common practice in the financial industry to align management's interests with those of shareholders.

Comparison to Industry Standards

• Equity compensation practices vary across the banking industry, but the use of RSUs and PSUs is common among publicly traded banks like Amerant Bancorp.
• Comparable companies such as BankUnited, First Republic Bank (prior to acquisition), and Popular Inc. also utilize similar equity-based compensation plans for their executives.
• The specific performance metrics used for PSU vesting, such as Return on Average Total Common Equity and Total Shareholder Return, are standard measures of financial performance in the banking sector.

Stakeholder Impact

• Shareholders: The equity-based compensation aligns management's interests with shareholder value creation.
• Employees: The Employee Stock Purchase Plan allows employees to acquire company stock.
• Management: The RSUs and PSUs provide incentives for achieving performance targets.

Next Steps

• Continued monitoring of insider transactions and company performance to assess the value and impact of the equity-based compensation.

Key Dates

Keywords

Amerant Bancorp, Sharymar Calderon, Form 4, Beneficial Ownership, Restricted Stock Units, Performance Based Restricted Stock Units, Class A Common Stock, LTI 2023, LTI 2024, LTI 2025