Form 4: Pacific Premier Bancorp Inc. Executive Steven R. Arnold Reports Changes in Beneficial Ownership

Steven R. Arnold, General Counsel & Corp. Sec. of Pacific Premier Bancorp Inc., reports a transaction involving the withholding of shares to cover tax liabilities related to vesting restricted stock awards.

Summary

• On March 31, 2024, Steven R. Arnold, General Counsel & Corp. Sec. of Pacific Premier Bancorp Inc. (PPBI), reported a change in beneficial ownership.
• 417 shares of PPBI common stock were disposed of at a price of $24 per share to cover tax liabilities related to the vesting of restricted stock awards.
• Following the transaction, Arnold directly owns 42,202 shares of PPBI common stock, which includes 25,775 shares of restricted stock subject to a vesting schedule and forfeiture under certain conditions.
• Arnold also directly owns options on 5,000 shares of PPBI common stock with an exercise price of $21.54, vesting in three equal annual installments beginning March 9, 2017, and expiring on March 9, 2026.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing an insider transaction, which carries a neutral sentiment.

Industry Context

This filing is a routine disclosure related to insider transactions and is a standard practice for executives holding company stock and options.

Comparison to Industry Standards

• Form 4 filings are standard practice across publicly traded companies, including competitors of Pacific Premier Bancorp Inc.
• The vesting schedules and option terms are typical for executive compensation packages in the banking industry.
• Similar filings can be observed for executives at comparable institutions like Bank of Southern California and First Foundation Inc.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it is a routine tax-related stock disposal by an executive.

Key Dates