Form 4: Pacific Premier Bancorp Executive Tom Rice Reports Changes in Beneficial Ownership

Tom Rice, SEVP/Chief Innovation Officer of Pacific Premier Bancorp, reports transactions involving PPBI common stock and restricted stock units, including acquisitions, disposals, and transfers to a family trust.

Summary

• On March 15, 2024, Tom Rice, SEVP/Chief Innovation Officer of Pacific Premier Bancorp, engaged in multiple transactions involving PPBI common stock.
• These transactions included the acquisition of 15,480 shares of restricted stock, the conversion of 3,720 restricted stock units into common stock, and the vesting of 483 dividend equivalent rights.
• Additionally, 7,324 shares were disposed of to cover tax liabilities related to the vesting of restricted stock units and awards.
• On March 19, 2024, Mr. Rice transferred 6,637 shares of PPBI common stock to the Rice Family Trust.
• Following these transactions, Mr. Rice directly owns 38,607 shares and indirectly owns 71,137 shares through the Rice Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing transactions by an executive, with no inherent positive or negative sentiment.

Future Outlook

The vesting of restricted stock units is contingent upon the achievement of certain performance goals over a 3-year performance period, with potential payouts ranging from 0% to 200% of the targeted amount.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company executive, which is common in the financial industry.

Related Party Transactions

• Tom Rice transferred 6,637 shares of PPBI common stock to the Rice Family Trust, a related party transaction.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.

Key Dates