Form 4: Pacific Premier Bancorp SEVP & CFO Ronald J. Nicolas Jr. Reports Changes in Beneficial Ownership

Ronald J. Nicolas Jr., SEVP & CFO of Pacific Premier Bancorp, reports transactions involving common stock and restricted stock units, including vesting of performance-based units and a transfer of shares to a living trust.

Summary

• On March 15, 2025, Ronald J. Nicolas Jr., SEVP & CFO of Pacific Premier Bancorp, reported several transactions involving PPBI common stock and restricted stock units.
• These transactions include the acquisition of 33,542 shares of common stock, the vesting of 5,416 restricted stock units based on performance goals, and the vesting of 828 dividend equivalent rights.
• Nicolas also transferred 34,107 shares of PPBI common stock to The Nicolas Living Trust on March 18, 2025.
• Following these transactions, Nicolas directly owns 65,692 shares of PPBI common stock and indirectly owns 135,850 shares through The Nicolas Living Trust.
• He also holds 33,542 PPBI Restricted Stock Units.

Sentiment

Score: 6

Explanation: The document primarily reports transactions related to executive compensation and wealth management. The vesting of performance-based units suggests positive performance, but the overall sentiment is neutral.

Positives

• The vesting of restricted stock units indicates that performance goals were met, which could be viewed positively.

Future Outlook

The vesting of future restricted stock units is contingent upon the achievement of predetermined performance goals over a 3-year performance period, based on the Company's 3-year average relative total shareholder return percentile range and average ROAA/ROATCE percentile performance as compared to the Keefe, Bruyette & Woods, Inc. Regional Banking Index (KRX) companies.

Industry Context

Changes in beneficial ownership are routine filings, but the vesting of performance-based restricted stock units can provide insight into management's assessment of the company's performance relative to its peers in the regional banking sector.

Comparison to Industry Standards

• The performance-based vesting of restricted stock units tied to metrics like ROAA and total shareholder return is a common practice in the banking industry.
• Companies like Bank of America, JP Morgan Chase, and Wells Fargo also use similar metrics to incentivize and reward their executives.
• The Keefe, Bruyette & Woods, Inc. Regional Banking Index (KRX) is a standard benchmark for comparing the performance of regional banks.

Stakeholder Impact

• The vesting of restricted stock units aligns management's interests with those of shareholders, potentially driving long-term value creation.
• The transfer of shares to a living trust has no immediate impact on stakeholders.

Key Dates