Form 4: Pacific Premier Bancorp COO Edward Wilcox Reports Changes in Beneficial Ownership

Edward Wilcox, COO of Pacific Premier Bancorp, reports transactions involving restricted stock units and common stock, resulting in adjustments to his beneficial ownership.

Summary

• On March 15, 2025, Edward Wilcox, the President & COO of Pacific Premier Bancorp Inc. [PPBI], reported changes in his beneficial ownership of the company's securities.
• The transactions included the vesting of restricted stock units (RSUs) and dividend equivalent rights, as well as the withholding of shares to cover tax liabilities.
• Wilcox was awarded 6,138 shares of common stock based on the achievement of certain performance goals related to RSUs granted on March 15, 2022.
• He also acquired 38,014 shares of common stock through restricted stock with a 3-year vesting schedule.
• Following these transactions, Wilcox directly owns 154,783 shares of PPBI common stock and indirectly owns 125,430 shares through a family trust.
• He also holds derivative securities, including 38,014 PPBI Restricted Stock Units.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing insider transactions. The sentiment is neutral, with a slight positive leaning due to the vesting of RSUs indicating the achievement of performance goals.

Positives

• The vesting of restricted stock units indicates that performance goals were met, which could be seen as a positive sign for the company's performance.
• The increase in Wilcox's direct ownership of common stock aligns his interests with those of other shareholders.

Negatives

• The withholding of 20,817 shares to cover tax liabilities resulted in a decrease in the number of shares directly owned by Wilcox.

Risks

• The value of the restricted stock units is dependent on the company's future performance, and there is a risk that the performance goals may not be met in the future.
• The value of the common stock is subject to market fluctuations, which could impact the value of Wilcox's holdings.

Future Outlook

The reporting person may receive between 0% and 200% of the targeted amount of Restricted Stock Units depending on the actual performance achieved over a 3-year performance period.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the holdings of a key executive at Pacific Premier Bancorp.

Comparison to Industry Standards

• Comparing Pacific Premier Bancorp's ROAA, ROATCE, and TSR against the Keefe, Bruyette & Woods, Inc. Regional Banking Index (KRX) is a standard practice for evaluating performance in the regional banking sector.
• Companies like First Republic Bank (before its acquisition) and other regional banks in the KRX index would be relevant benchmarks for assessing Pacific Premier Bancorp's performance.

Stakeholder Impact

• Shareholders may view the vesting of restricted stock units as a positive sign, indicating that the company is meeting its performance goals.
• The transactions have no immediate impact on employees, customers, suppliers, or creditors.

Key Dates