Form 4: RBB Bancorp Executive Johnny Lee Reports Stock Unit Grants
SEC Form 4
Johnny Lee, Pres/Chief Banking Officer of RBB Bancorp, reports the grant of restricted and performance stock units.
Summary
- Johnny Lee, the Pres/Chief Banking Officer of RBB Bancorp, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the grant of 8,221 restricted stock units (RSUs) and a maximum of 12,332 performance stock units (PSUs) on March 20, 2024.
- The RSUs vest in three equal annual installments beginning one year after the grant date.
- The PSUs will vest conditionally on the achievement of certain performance goals and an employment condition at the expiration of a three-year period beginning on March 20, 2024.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding stock grants, indicating a neutral sentiment.
Future Outlook
The vesting of the performance stock units is contingent upon the achievement of certain performance goals over a three-year period.
Industry Context
This filing is a routine disclosure related to executive compensation and aligns with standard practices for publicly traded companies.
Stakeholder Impact
- The stock grants may incentivize the executive to improve company performance, potentially benefiting shareholders.
- The grants represent a form of compensation for the executive.
Key Dates
| Date | Description |
|---|---|
| 07/20/2023 | Date of grant for previously reported restricted stock units that vest in three equal annual installments beginning one year after this date. |
| 02/21/2024 | Date of grant for previously reported restricted stock units that vest in three equal annual installments beginning one year after this date. |
| 03/20/2024 | Date of grant for 8,221 restricted stock units (RSUs) and a maximum of 12,332 performance stock units (PSUs). |
| 03/22/2024 | Date of signature for the Form 4 filing. |
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