Form 4: PPBI Executive Disposes Shares in Columbia Merger

Pacific Premier Bancorp's Sr. EVP, Margaret S. Ohlhaver, disposed of 23,774 shares of common stock as part of the merger with Columbia Banking System.

Summary

• Margaret S. Ohlhaver, Sr. EVP and Chief Human Resources Officer of Pacific Premier Bancorp, Inc. (PPBI), reported the disposition of 23,774 shares of PPBI common stock.
• The transaction occurred on August 31, 2025, in connection with the Agreement and Plan of Merger between Columbia Banking System, Inc. and Pacific Premier Bancorp, Inc.
• Following the transaction, Ohlhaver beneficially owns 0 shares of PPBI common stock.
• As per the merger agreement, each share of PPBI common stock was converted into the right to receive 0.9150 of a share of Columbia common stock, with cash paid in lieu of fractional shares.

Sentiment

Score: 7

Explanation: The filing reports the successful completion of a significant strategic merger, which is generally a positive event for the involved entities and their shareholders. The insider transaction is a routine and expected consequence of this corporate action.

Positives

• The merger of Pacific Premier Bancorp, Inc. with Columbia Banking System, Inc. has been successfully completed, indicating the execution of a strategic corporate transaction.
• Shareholders of Pacific Premier Bancorp received shares of Columbia Banking System, Inc., providing continued equity participation in the combined entity.

Negatives

• The reporting person no longer holds shares in Pacific Premier Bancorp, Inc. as the entity has merged out of existence.

Risks

• No specific new risks are mentioned in this Form 4 filing, which primarily reports a transaction related to a completed merger.

Future Outlook

This filing does not contain any forward-looking statements or guidance, as it reports a completed transaction.

Industry Context

This merger reflects ongoing consolidation within the banking sector, where regional banks often combine to achieve greater scale, expand market presence, and enhance operational efficiencies in a competitive landscape.

Comparison to Industry Standards

• This Form 4 filing, reporting an insider's share disposition due to a merger, does not provide sufficient information to compare the merger's specific terms (e.g., exchange ratio) to global benchmarks or specific comparable companies/projects within the banking industry.

Stakeholder Impact

• Shareholders of Pacific Premier Bancorp, Inc. had their shares converted into Columbia Banking System, Inc. common stock, effectively transferring their investment to the acquiring entity.
• Employees and customers of Pacific Premier Bancorp, Inc. will now be integrated into Columbia Banking System, Inc., which may lead to changes in operations, services, and corporate culture.

Next Steps

• The reporting person will now hold shares in Columbia Banking System, Inc. (if applicable) and would be required to file Form 4s for any future transactions in Columbia stock.
• Pacific Premier Bancorp, Inc. no longer exists as a separate public entity following the merger.

Key Dates

Keywords

PACIFIC PREMIER BANCORP, PPBI, Columbia Banking System, Columbia, Merger, Acquisition, Form 4, Insider Trading, Stock Disposition, Executive Compensation, Financial Services, Banking