Form 4: RBB Bancorp CEO Johnny Lee Reports Stock Unit Grants
SEC Form 4 Filing
RBB Bancorp's CEO, Johnny Lee, reports the grant of restricted stock units (RSUs) and performance stock units (PSUs) on May 8, 2025.
Summary
- Johnny Lee, the President/CEO of RBB Bancorp, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the grant of restricted stock units (RSUs) and performance stock units (PSUs) on May 8, 2025.
- Lee directly owns 5,943 shares of RBB Bancorp common stock.
- The granted RSUs vest in three equal annual installments, starting one year after the grant date.
- The PSUs will vest conditionally based on performance goals and continued employment over a three-year period.
Sentiment
Score: 7
Explanation: The document is a routine disclosure of equity grants, which is generally viewed neutrally. The grants incentivize management, which is a positive, but there are no immediate financial implications.
Positives
- The grant of RSUs and PSUs aligns the CEO's interests with the long-term performance of the company.
- Vesting schedules encourage continued service and achievement of performance goals.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of the granted equity.
Industry Context
Equity grants are a common practice in the banking industry to incentivize and retain key executives. The vesting schedules and performance-based conditions are designed to align management's interests with shareholder value.
Comparison to Industry Standards
- Equity compensation packages for CEOs in regional banks like RBB Bancorp typically include a mix of restricted stock units and performance-based units.
- The vesting schedules, often three years, are standard practice to ensure long-term commitment.
- Performance metrics for PSUs in the banking sector often include metrics like return on assets (ROA), return on equity (ROE), and loan growth, though the specific metrics for these PSUs are not disclosed in this document.
- Comparing the size of the grant to similar banks would require additional data on RBB Bancorp's compensation policies and peer group data.
Stakeholder Impact
- Shareholders may view the equity grants positively as they align management's interests with the company's long-term success.
- Employees may see the grants as a sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 07/20/2023 | Date of grant for 11,000 restricted stock units that vest in three equal annual installments beginning one year after this date. |
| 02/21/2024 | Date of grant for 2,196 restricted stock units that vest in three equal annual installments beginning one year after this date. |
| 03/20/2024 | Date of grant for 5,282 restricted stock units and 12,332 performance stock units. |
| 05/08/2025 | Date of grant for 14,000 restricted stock units and 21,000 performance stock units. |
| 05/12/2025 | Date of signature of the Form 4 filing. |
Keywords
Form 4, RBB Bancorp, Johnny Lee, Restricted Stock Units, Performance Stock Units, Beneficial Ownership, Equity Compensation
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