SCHEDULE: Vanguard Group Reports Zero RBB Bancorp Stake

The Vanguard Group has reported 0% beneficial ownership in RBB Bancorp common stock following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 1 to Schedule 13G for RBB Bancorp, reporting 0% beneficial ownership of its Common Stock.
• This change is attributed to an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis) in reliance on SEC Release No. 34-39538.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these subsidiaries and/or business divisions.
• The reporting person, The Vanguard Group, now holds 0 shares with sole voting, shared voting, sole dispositive, and shared dispositive power.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral to slightly negative development for RBB Bancorp. While the reason for divestment is internal to Vanguard, the complete withdrawal of a major institutional investor's reported stake could be perceived negatively by the market, even if not directly tied to RBB's fundamentals.

Negatives

• The Vanguard Group, a significant institutional investor, no longer reports beneficial ownership in RBB Bancorp, indicating a complete divestment of its previously reported stake.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding RBB Bancorp's future performance or The Vanguard Group's future investment intentions beyond the current reporting change.

Management Comments

• Ashley Grim, Head of Global Fund Administration for The Vanguard Group, certified that 'to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.'

Industry Context

StockSavvy.ai notes that while this filing reflects a significant change in institutional ownership for RBB Bancorp, the stated reason is an internal restructuring within The Vanguard Group rather than a direct assessment of RBB Bancorp's performance or prospects. Such internal realignments by large asset managers can lead to shifts in reported beneficial ownership across numerous holdings, not just RBB Bancorp, as reporting responsibilities are reallocated among entities.

Stakeholder Impact

• Shareholders of RBB Bancorp may note the change in institutional ownership, as a major passive investor no longer holds a reportable stake.

Key Dates

Keywords

RBB Bancorp, Vanguard Group, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Ownership Change