Form 4: Pacific Premier Bancorp Executive Tom Rice Reports Stock Transactions

Tom Rice, SEVP/Chief Innovation Officer of Pacific Premier Bancorp, reports stock transactions including tax liability coverage, a gift, and a transfer to a family trust.

Summary

• On March 31, 2025, Tom Rice had 2,102 shares withheld to cover tax liabilities related to vesting restricted stock awards at a price of $21.32 per share.
• On April 2, 2025, Rice gifted 1,898 shares of PPBI common stock.
• Also on April 2, 2025, Rice transferred 1,898 directly owned shares to the Rice Family Trust.
• Following these transactions, Rice directly owns 30,657 shares and the Rice Family Trust owns 82,487 shares.
• Rice also holds restricted stock units 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 standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Future Outlook

The vesting of restricted stock units depends on the company's performance over a 3-year period, with potential payouts ranging from 0% to 200% of the targeted amount based on total shareholder return, ROAA, and ROATCE compared to the KRX index.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for executives at publicly traded companies like Pacific Premier Bancorp.
• The performance-based vesting of restricted stock units is a common compensation strategy used by financial institutions to align executive incentives with shareholder value.
• Comparing Pacific Premier Bancorp's ROAA, ROATCE, and total shareholder return to the KRX index provides a benchmark for assessing the company's performance against its peers, such as other regional banks like Western Alliance Bancorporation, Comerica, and Bank of Hawaii.

Related Party Transactions

• The transfer of shares to the Rice Family Trust is a related party transaction.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal.
• The vesting of restricted stock units incentivizes the executive to improve company performance, which could benefit shareholders.

Key Dates

Keywords

Form 4, PPBI, Pacific Premier Bancorp, Tom Rice, Stock Transaction, Restricted Stock Units, Beneficial Ownership, Insider Trading