Form 4: Five Star Bancorp SVP & CIO Brett Levi Wait Reports Stock Award and Holdings

Brett Levi Wait, SVP & CIO of Five Star Bancorp, reports the acquisition of 907 shares of common stock and holdings of 20,191 shares.

Summary

• On May 1, 2025, Brett Levi Wait, SVP & CIO of Five Star Bancorp, acquired 907 shares of common stock.
• These shares were granted under the Five Star Bancorp 2021 Equity Incentive Plan.
• The restricted stock vests annually in equal installments over five years, contingent upon Mr. Wait's continued employment.
• Following the transaction, Mr. Wait beneficially owns 20,191 shares of Five Star Bancorp common stock.
• This total includes shares previously granted under the 2021 Equity Incentive Plan, some of which have already vested and others that are scheduled to vest over the remaining period.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard executive compensation practice, indicating confidence in the executive's continued contribution to the company.

Positives

• The equity incentive plan aligns Mr. Wait's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Risks

• The vesting of the restricted stock is contingent upon Mr. Wait's continued employment, creating a potential risk if he were to leave the company.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the stock award implies an expectation of continued employment and contribution from Mr. Wait.

Industry Context

Equity incentive plans are a common practice in the banking industry to attract, retain, and motivate key executives. The vesting schedule is designed to align executive compensation with long-term shareholder value.

Comparison to Industry Standards

• Many financial institutions use similar equity incentive plans to align executive compensation with company performance.
• Vesting schedules of five years are fairly standard in the industry, encouraging long-term commitment.
• Companies like JPMorgan Chase and Bank of America also utilize stock awards as part of their executive compensation packages.

Stakeholder Impact

• Shareholders may view the equity incentive plan positively as it aligns executive interests with long-term company performance.
• Employees may see the plan as a positive aspect of the company's compensation structure.
• The plan has no immediate impact on customers, suppliers, or creditors.

Key Dates

Keywords

Five Star Bancorp, Brett Levi Wait, Equity Incentive Plan, Stock Award, Beneficial Ownership, Form 4, FSBC