Form 4: Pacific Premier Bancorp CFO Ronald J. Nicolas Jr. Reports Changes in Beneficial Ownership
SEC Form 4
Ronald J. Nicolas Jr., SEVP & CFO of Pacific Premier Bancorp, reports transactions involving PPBI common stock, including acquisition, disposal, and vesting of restricted stock units.
Summary
- On March 15, 2024, Ronald J. Nicolas Jr., SEVP & CFO of Pacific Premier Bancorp Inc., reported changes in beneficial ownership of PPBI common stock.
- These changes include the acquisition of 33,171 shares of restricted stock, the vesting of 8,858 shares of common stock from restricted stock units, and the vesting of 1,150 dividend equivalent rights.
- Additionally, 16,866 shares were withheld to cover tax liabilities related to the vesting of restricted stock units, restricted stock awards, and dividend equivalent rights.
- On March 19, 2024, Nicolas transferred 14,509 shares of PPBI common stock to The Nicolas Living Trust.
- Following these transactions, Nicolas directly owns 60,013 shares of restricted stock and indirectly owns 101,743 shares through The Nicolas Living Trust.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions by a company insider. It doesn't inherently indicate positive or negative sentiment, but rather provides information about ownership changes.
Future Outlook
The restricted stock units have a performance-based vesting schedule, with the actual number of shares vesting depending on the company's performance against predetermined goals over a 3-year period.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor potential insider trading activity and assess management's confidence in the company's prospects.
Related Party Transactions
- The transfer of 14,509 shares to The Nicolas Living Trust is a related party transaction.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly altering the ownership structure of the company.
- Employees holding PPBI stock or stock options may be interested in these transactions as they provide insight into executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 08/08/2006 | Agreement date for The Nicolas Living Trust |
| 03/15/2021 | Reporting Person was granted Restricted Stock Units which convert into common stock on a one-for-one basis, the vesting of which was conditioned upon the achievement of certain performance goals. |
| 03/15/2024 | Earliest transaction date; vesting of restricted stock units and dividend equivalent rights; acquisition of restricted stock. |
| 03/19/2024 | Transfer of shares to The Nicolas Living Trust. |
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