Form 4: Stellar Bancorp Executive Chairman Steven F. Retzloff Reports Changes in Beneficial Ownership

Steven F. Retzloff, Executive Chairman of Stellar Bancorp, reports acquisition and disposal of common stock and awards of restricted shares and performance share units.

Summary

• Steven F. Retzloff, the Executive Chairman of Stellar Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On March 15, 2024, Retzloff disposed of 527 shares of common stock at a price of $23.51.
• On the same date, he acquired 8,050 restricted shares and 12,075 performance share units, both at a price of $0.
• Following these transactions, Retzloff directly owns 140,948 shares of common stock.
• He also indirectly owns 25,531 shares through Retzloff Industries, Inc., 378,240 shares through Retzloff Holdings, LTD., and 12,598 shares through SF Retzloff Family Limited Partnership, LTD.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. The acquisition of shares and units is a slightly positive signal.

Positives

• The acquisition of 8,050 restricted shares and 12,075 performance share units indicates a continued alignment of Retzloff's interests with the long-term performance of Stellar Bancorp.
• The vesting schedule of the restricted shares (2025, 2026, and 2027) suggests a commitment to the company's future.

Future Outlook

The vesting schedule of the restricted shares suggests a continued involvement of the Executive Chairman with the company for the next few years.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates the Executive Chairman's ongoing investment in the company.

Stakeholder Impact

• The transactions may have a minor impact on shareholder confidence, reflecting the Executive Chairman's continued investment in the company.

Key Dates