Form 4: Five Star Bancorp SVP Acquires Shares Under Equity Incentive Plan

Michael Eugene Lee, SVP & Chief Regulatory Officer of Five Star Bancorp, reports acquisition of shares through the company's equity incentive plan.

Summary

• Michael Eugene Lee, SVP & Chief Regulatory Officer of Five Star Bancorp, filed a Form 4 detailing changes in beneficial ownership.
• On May 1, 2025, Lee acquired 907 shares of Common Stock under the Five Star Bancorp 2021 Equity Incentive Plan at a price of $0.
• These shares vest annually in equal installments over five years, contingent on Lee's continued employment with Five Star Bancorp.
• Following the transaction, Lee directly owns 37,672 shares, including vested and unvested shares from previous grants under the equity incentive plan.
• Lee also indirectly owns shares through The Michael E. Lee & Kaylin M. Fadel-Lee Family Revocable Trust, where he serves as trustee.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to executive compensation, indicating confidence in the company's future by the officer.

Positives

• The acquisition of shares by a company officer demonstrates confidence in the company's future.
• The vesting schedule incentivizes the officer to remain with the company for the long term.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the acquired shares suggests an expectation of continued employment and contribution from the reporting person.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that Five Star Bancorp is utilizing equity-based compensation as part of its overall compensation strategy.

Comparison to Industry Standards

• Equity incentive plans are a common practice among publicly traded companies, including regional banks like Five Star Bancorp.
• Comparable companies such as Bank of Marin Bancorp (BMRC) and Westamerica Bancorporation (WABC) also utilize equity-based compensation to align management's interests with those of shareholders.
• The vesting schedule of five years is a typical timeframe for equity grants, ensuring long-term commitment from key personnel.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning management's interests with the company's long-term performance.
• Employees may view the equity incentive plan as a positive aspect of their compensation package.

Key Dates

Keywords

Form 4, Beneficial Ownership, Equity Incentive Plan, Five Star Bancorp, FSBC, Michael Eugene Lee, Shares, Stock