Form 4: RBB Bancorp Officer Johnny Lee Reports Stock Vesting and Tax Withholding
SEC Form 4
Johnny Lee, Pres/Chief Banking Officer of RBB Bancorp, reports the vesting of restricted stock units and subsequent disposal of shares for tax obligations.
Summary
- On February 21, 2025, Johnny Lee, Pres/Chief Banking Officer of RBB Bancorp, had 1,098 shares of common stock vest at a price of $17.25 per share.
- Lee disposed of 452 shares at $17.25 to cover tax withholding obligations related to the vesting.
- Following these transactions, Lee directly owns 4,183 shares of RBB Bancorp common stock.
- The report also details Lee's holdings of various restricted stock units (RSUs) and performance stock units (PSUs) with different vesting schedules and conditions.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral. It simply reports transactions related to executive compensation.
Future Outlook
The document details future vesting schedules for restricted stock units and performance stock units, contingent on continued employment and achievement of performance goals.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the equity-based compensation of RBB Bancorp's executives.
Stakeholder Impact
- The vesting and disposal of shares may have a minor impact on the company's stock price due to the increased number of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 07/20/2023 | Date of grant for 11,000 restricted stock units vesting in three equal annual installments beginning one year after this date. |
| 02/21/2024 | Date of grant for 3,294 restricted stock units vesting in three equal annual installments beginning one year after this date. |
| 03/20/2024 | Date of grant for 8,221 restricted stock units vesting in three equal annual installments beginning one year after this date and 12,332 performance stock units that will vest at the expiration of a three-year period beginning on this date subject to the Reporting Person's satisfaction of the employment condition. |
| 02/21/2025 | Date of transaction: Vesting of 1,098 shares and disposal of 452 shares for tax obligations. |
| 02/25/2025 | Date of signature for the Form 4 filing. |
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