Form 4: RBB Bancorp Executive Exercises and Sells Stock Options
SEC Form 4 Filing
Gary Fan, EVP/Chief Operations Officer of RBB Bancorp, executed a cashless exercise and sale of 12,000 stock options on December 6, 2024.
Summary
- Gary Fan, the EVP/Chief Operations Officer of RBB Bancorp, exercised 12,000 stock options at a price of $21.17 per share on December 6, 2024.
- Simultaneously, Mr. Fan sold the 12,000 shares acquired from the option exercise at a price of $23.4497 per share.
- This transaction resulted in a net reduction of Mr. Fan's direct holdings of stock options to zero.
- The transaction was a cashless exercise and sale, meaning no cash was exchanged by Mr. Fan to exercise the options.
- Mr. Fan also holds other derivative securities including 18,000 stock options, 3,033 restricted stock units, 3,944 restricted stock units and 5,916 performance stock units.
Sentiment
Score: 5
Explanation: The document is a neutral report of an executive's stock option exercise and sale, with no indication of positive or negative sentiment.
Management Comments
- Gary Fan is reporting a cashless exercise and sale of 12,000 shares.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- The cashless exercise of stock options is a common practice among executives in publicly traded companies.
- The vesting schedules for the stock options, restricted stock units, and performance stock units are typical for executive compensation packages.
- The reporting of these transactions via SEC Form 4 is a standard regulatory requirement.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine executive compensation activity.
Key Dates
| Date | Description |
|---|---|
| 12/05/2022 | Date of grant for the stock options that vest in five equal annual installments. |
| 02/21/2024 | Date of grant for the restricted stock units that vest in three equal installments. |
| 03/20/2024 | Date of grant for the restricted stock units that vest in three equal installments and the performance stock units that vest conditionally over three years. |
| 12/06/2024 | Date of the cashless exercise and sale of 12,000 stock options by Gary Fan. |
| 12/20/2032 | Expiration date of the stock options. |
Keywords
stock options, insider trading, executive compensation, RBB Bancorp, Form 4, securities, Gary Fan, cashless exercise, derivative securities, restricted stock units, performance stock units
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