Form 4: RBB Bancorp EVP Tsu Te Huang Reports Stock Distribution from Trust
SEC Form 4 Filing
Tsu Te Huang, EVP of RBB Bancorp, reports a distribution of 204,488 shares of RBB common stock from a trust to its beneficiaries, along with holdings of restricted stock units.
Summary
- On May 22, 2024, Tsu Te Huang, EVP of RBB Bancorp, filed a Form 4.
- The form reports a distribution of 204,488 shares of RBB common stock from the Hsin-Lee Lin and Ling Huei T Lin 2012 Irrevocable Trust, where Huang serves as trustee, to the beneficiaries.
- Huang disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
- Huang also holds 14,344 shares of RBB Bancorp common stock directly.
- Additionally, Huang holds restricted stock units (RSUs) that vest in three equal annual installments, granted on 01/19/2022 (398 units), 01/18/2023 (1,319 units), and 02/21/2024 (2,231 units).
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a transfer of shares from a trust. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.
Stakeholder Impact
- The distribution of shares from the trust may have a minor impact on the shareholder base.
Key Dates
| Date | Description |
|---|---|
| 01/19/2022 | Grant date for 398 Restricted Stock Units, vesting in three equal annual installments. |
| 01/18/2023 | Grant date for 1,319 Restricted Stock Units, vesting in three equal annual installments. |
| 02/21/2024 | Grant date for 2,231 Restricted Stock Units, vesting in three equal annual installments. |
| 05/22/2024 | Date of transaction: Distribution of 204,488 shares of RBB common stock from the Hsin-Lee Lin and Ling Huei T Lin 2012 Irrevocable Trust. |
| 05/22/2024 | Date of Form 4 filing. |
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