Form 4: Pacific Premier Bancorp Executive Reports Stock Transactions

Michael S. Karr, SEVP & Chief Risk Officer of Pacific Premier Bancorp, reports stock transactions including tax liability coverage, stock transfers to a family trust, and holdings of restricted stock units.

Summary

• On March 31, 2025, Michael S. Karr, SEVP & Chief Risk Officer of Pacific Premier Bancorp, had 1,616 shares withheld to cover tax liabilities from vesting restricted stock awards at a price of $21.32 per share.
• Following this transaction, Karr directly owned 32,041 shares of PPBI common stock, including 30,657 shares of restricted stock subject to a vesting schedule.
• On April 2, 2025, Karr transferred 1,384 directly owned shares to The Karr Family Revocable Trust.
• The Karr Family Revocable Trust holds 88,201 shares, with Karr sharing voting and disposition control.
• Karr also holds restricted stock units (RSUs) that may vest based on performance goals related to total shareholder return, ROAA, and ROATCE compared to the Keefe, Bruyette & Woods, Inc. Regional Banking Index (KRX).

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Future Outlook

Vesting of restricted stock units is contingent upon achieving certain predetermined performance goals over a 3-year performance period, with potential vesting between 0% and 200% of the targeted amount.

Industry Context

This filing reflects standard executive compensation practices in the banking industry, where stock and restricted stock units are used to align executive incentives with shareholder value and company performance.

Comparison to Industry Standards

• Executive compensation packages including restricted stock units (RSUs) are common in the banking industry.
• Performance-based vesting tied to metrics like total shareholder return (TSR), ROAA, and ROATCE is a typical approach to incentivize executives to achieve specific financial targets.
• Comparing Pacific Premier Bancorp's performance against the Keefe, Bruyette & Woods, Inc. Regional Banking Index (KRX) is a standard benchmarking practice in the regional banking sector.
• Many regional banks use similar performance metrics and peer groups to determine executive compensation.

Key Dates

Keywords

Pacific Premier Bancorp, PPBI, Michael S. Karr, Stock Transactions, Restricted Stock Units, Beneficial Ownership, Form 4, Keefe Bruyette & Woods Index, KRX, ROAA, ROATCE