Form 4: RBB Bancorp EVP Gary Fan Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Gary Fan, EVP/Chief Operations Officer of RBB Bancorp, reports the vesting of restricted stock units and subsequent stock transactions.
Summary
- On March 21, 2025, Gary Fan, EVP/Chief Operations Officer of RBB Bancorp, reported transactions related to the vesting of restricted stock units (RSUs).
- 1,315 shares of common stock were acquired upon the vesting of RSUs at a price of $17.07.
- 459 shares were disposed of to cover tax withholding obligations at a price of $17.07.
- Following these transactions, Fan directly owns 1,451 shares of RBB Bancorp common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Future Outlook
The document does not contain specific forward-looking statements, but it details the vesting schedules for stock options, restricted stock units, and performance stock units, indicating future potential equity-based compensation for the reporting person.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Comparison to Industry Standards
- Equity compensation is a standard practice in the banking industry to align executive interests with shareholder value.
- Vesting schedules for options and restricted stock units are typically three to five years, which aligns with the vesting schedules described in the document.
- Comparable companies such as PacWest Bancorp or Bank of Southern California also utilize similar equity compensation plans for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard equity compensation practices of the company.
- Employees may be interested in the details of executive compensation as a benchmark.
Key Dates
| Date | Description |
|---|---|
| 12/05/2022 | Date of grant for options that vest in five equal annual installments. |
| 02/21/2024 | Date of grant for restricted stock units that vest in three equal installments. |
| 03/20/2024 | Date of grant for restricted stock units and performance stock units. |
| 03/21/2025 | Date of RSU vesting and stock transactions. |
| 12/20/2032 | Expiration date for stock options. |
Keywords
RBB Bancorp, Gary Fan, RSU Vesting, Stock Transactions, Form 4, Beneficial Ownership, EVP, Chief Operations Officer
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