Form 4: Director Sells PPBI Shares Post-Merger with Columbia
Insider Transaction Report
Pacific Premier Bancorp director Jeff C. Jones disposed of all his shares following the company's merger into Columbia Banking System on August 31, 2025.
Summary
- Director Jeff C. Jones of Pacific Premier Bancorp Inc. (PPBI) reported the disposal of all his beneficial ownership in PPBI common stock.
- The transaction occurred on August 31, 2025, coinciding with the effective time of the merger between PPBI and Columbia Banking System, Inc.
- A total of 149,512 shares were disposed of: 8,901 shares directly owned, 134,611 shares held by The Jones Family Trust, and 6,000 shares held by his spouse.
- Each share of PPBI common stock was converted into the right to receive 0.9150 of a share of Columbia common stock, with cash paid in lieu of fractional shares.
- Following these transactions, Jeff C. Jones holds 0 shares of PPBI common stock.
Sentiment
Score: 5
Explanation: Neutral. A Form 4 reporting a post-merger share disposal is a routine, mandatory filing and does not inherently convey positive or negative sentiment about the company's ongoing operations, as the company itself has merged out of existence.
Future Outlook
This filing reports a completed transaction related to a past merger and does not provide forward-looking statements or guidance.
Industry Context
The merger of Pacific Premier Bancorp, Inc. into Columbia Banking System, Inc. reflects ongoing consolidation within the regional banking sector, a trend driven by the pursuit of scale, operational efficiencies, and expanded market reach.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Jeff C. Jones (of Pacific Premier Bancorp, Inc.) | N/A (Pacific Premier Bancorp, Inc. merged) | 08/31/2025 | Cessation of directorship at Pacific Premier Bancorp, Inc. due to its merger into Columbia Banking System, Inc. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Merger Completion | Pacific Premier Bancorp, Inc. merged into Columbia Banking System, Inc., resulting in the dissolution of PPBI's independent corporate governance structure and board of directors. | 08/31/2025 | Elimination of Pacific Premier Bancorp, Inc. as a separate publicly traded entity and its associated governance policies and oversight. |
Related Party Transactions
- The disposal included shares held indirectly by The Jones Family Trust and by Spouse, which are considered related parties to Director Jeff C. Jones. This transaction was a consequence of the merger agreement.
Stakeholder Impact
- Shareholders of Pacific Premier Bancorp, Inc. had their shares converted into shares of Columbia Banking System, Inc. as per the merger terms.
- Director Jeff C. Jones's beneficial ownership in Pacific Premier Bancorp, Inc. was fully converted as a result of the merger.
Next Steps
- Former shareholders of Pacific Premier Bancorp, Inc. now hold shares of Columbia Banking System, Inc. and will manage their investment accordingly.
Key Dates
| Date | Description |
|---|---|
| 04/23/2025 | Date of the Agreement and Plan of Merger between Columbia Banking System, Inc. and Pacific Premier Bancorp, Inc. |
| 08/31/2025 | Effective Time of the merger, where Pacific Premier Bancorp, Inc. merged into Columbia Banking System, Inc., and the transaction date for share disposal. |
| 09/03/2025 | Signature date of the Form 4 filing by Jeff C. Jones. |
Keywords
PACIFIC PREMIER BANCORP, PPBI, Columbia Banking System, Columbia, Merger, Form 4, Insider Transaction, Share Disposal, Jeff C. Jones, Director
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