Form 4: RBB Bancorp Executive Tsu Te Huang Reports Stock Vesting and Tax Withholding Transactions
SEC Form 4
RBB Bancorp executive Tsu Te Huang reported the vesting of restricted stock units and associated tax withholding transactions on January 21, 2025.
Summary
- Executive Vice President Tsu Te Huang of RBB Bancorp reported transactions related to the vesting of restricted stock units (RSUs) on January 21, 2025.
- The transactions involved the vesting of 660 and 398 shares of common stock at a price of $20.09 per share.
- Additionally, 272 and 164 shares were disposed of to cover tax withholding obligations related to the vesting.
- The reported transactions resulted in a net increase of 622 shares of common stock held by Mr. Huang.
- The RSUs that vested were granted on January 19, 2022, January 18, 2023 and February 21, 2024, and vest in three equal annual installments.
Sentiment
Score: 7
Explanation: The document is a routine filing related to executive compensation. It is neither positive nor negative, but rather a standard reporting requirement. The sentiment is neutral to slightly positive as it indicates the executive is receiving compensation.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of granting restricted stock units to executives as part of their compensation packages.
Comparison to Industry Standards
- The vesting of restricted stock units is a common practice in executive compensation across various industries.
- Many companies use a similar three-year vesting schedule for their RSU grants.
- The tax withholding process is also standard practice to cover the tax liabilities associated with the vesting of equity compensation.
- Companies like JP Morgan Chase, Bank of America, and Wells Fargo also use similar RSU vesting schedules for their executives.
Stakeholder Impact
- The vesting of shares increases the number of shares held by the executive, aligning their interests with those of shareholders.
- The tax withholding transactions have no direct impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 01/19/2022 | Date of grant for some of the restricted stock units that vested. |
| 01/18/2023 | Date of grant for some of the restricted stock units that vested. |
| 02/21/2024 | Date of grant for some of the restricted stock units that vested. |
| 01/21/2025 | Date of the reported stock vesting and tax withholding transactions. |
| 01/22/2025 | Date the Form 4 was signed. |
Keywords
restricted stock units, RSU, stock vesting, insider trading, RBB Bancorp, Tsu Te Huang, executive compensation, Form 4
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