Form 4: RBB Bancorp Executive Johnny Lee Reports Stock Transactions
SEC Form 4 Filing
Johnny Lee, Pres/Chief Banking Officer of RBB Bancorp, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On July 22, 2024, Johnny Lee, the Pres/Chief Banking Officer of RBB Bancorp, reported transactions involving RBB Bancorp's common stock and restricted stock units (RSUs).
- Lee acquired 5,500 shares of common stock upon the vesting of RSUs at a price of $22.36 per share.
- Simultaneously, 1,963 shares were disposed of for tax withholding purposes at the same price of $22.36 per share.
- Following these transactions, Lee directly owns 3,537 shares of RBB Bancorp common stock.
- Lee also holds various restricted stock units and performance stock units (PSUs) that vest over time, subject to certain conditions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's future performance, but it does detail the vesting schedules for various stock-based compensation awards.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC when company insiders, like Johnny Lee, transact in their company's stock. It provides transparency to investors about the trading activities of key personnel.
Stakeholder Impact
- The transactions reported in this filing have a minimal direct impact on stakeholders.
- The vesting of RSUs is part of the executive compensation plan and is intended to align management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 07/20/2023 | Date of grant for 16,500 RSUs vesting over three years. |
| 02/21/2024 | Date of grant for restricted stock units vesting in three equal annual installments. |
| 03/20/2024 | Date of grant for restricted stock units and performance stock units vesting over three years. |
| 07/22/2024 | Date of transaction: Vesting of RSUs and tax withholding. |
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