RBB Bancorp (RBB) CFO exercises 1,878 RSUs; 674 shares withheld for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
RBB Bancorp EVP/CFO Lynn M. Hopkins exercised restricted stock units into 1,878 shares of common stock at $20.43 per share. Of these, 674 shares were withheld to cover tax obligations, leaving 3,541 common shares held directly after the transactions. She also continues to hold multiple unvested restricted and performance stock unit awards that may settle in common stock if service and performance conditions are met.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,878 shares exercised/converted
Mixed
7 txns
Insider
HOPKINS LYNN M
Role
EVP/CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,878 | $0.00 | -- |
| Exercise | Common Stock, No Par Value | 1,878 | $20.43 | $38K |
| Tax Withholding | Common Stock, No Par Value | 674 | $20.43 | $14K |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 1,878 shares (Direct);
Common Stock, No Par Value — 4,215 shares (Direct);
Performance Stock Units — 8,451 shares (Direct)
Footnotes (1)
- There will be no expiration date once restricted stock units vest. These restricted stock units vest in three equal annual installments beginning one year after the 03/20/2024 date of grant. These performance stock units ("PSUs") will vest conditionally on the achievement of certain performance goals and an employment condition. The reported PSUs will vest at the expiration of a three-year period beginning on 03/20/2024 subject to the Reporting Person's satisfaction of the employment condition. These restricted stock units vest in five equal annual installments beginning one year after the 04/22/2024 date of grant. These restricted stock units vest in three equal annual installments beginning one year after the 05/08/2025 date of grant Performance Stock Units ("PSUs") to vest conditionally on the achievement of certain performance goals and an employment condition. The PSUs are awarded at a target level and have the opportunity to vest at 150% of such target level; The reported PSUs represent the maximum award that may be achieved and ultimately vest. The reported PSUs will vest at the expiration of a three-year period beginning on 05/08/2025 subject to the Reporting Person's satisfaction of the employment condition. On May 12, 2025 due to an administrative error, the Reporting Person filed a Form 4 which inadvertently omitted information from the transactional columns in Table II and overstated the amount of RSUs and PSUs granted to the Reporting Person on May 8, 2025. The Form 4 has also been amended to clarify that grants of RSUs and PSUs will be settled in common stock.
FAQ
What insider transaction did RBB (RBB) report for EVP/CFO Lynn Hopkins?
RBB Bancorp reported that EVP/CFO Lynn M. Hopkins exercised restricted stock units into 1,878 shares of common stock at $20.43 per share. The filing also shows related tax-share withholding and updated post-transaction common share holdings.
Was the RBB (RBB) CFO’s Form 4 transaction a market sale or tax withholding?
The Form 4 shows a tax-withholding disposition, coded F, for 674 shares at $20.43 per share. This indicates shares were withheld to satisfy tax obligations, not sold in an open-market transaction, which limits its signaling value on insider sentiment.
What derivative awards does the RBB (RBB) CFO still hold after these transactions?
The filing shows remaining performance stock units and restricted stock units that can settle in common stock at a $0.00 exercise price. Underlying share amounts include 8,451 and 10,524 performance units and 7,666 and 7,017 restricted units, all held directly.
How do vesting conditions work for the RBB (RBB) CFO’s RSUs and PSUs?
Footnotes explain that restricted stock units vest in installments beginning one year after grant dates in 2024 and 2025. Performance stock units vest over three-year periods, contingent on achieving performance goals and the executive satisfying an employment condition.
Did RBB (RBB) correct any prior reporting issues in this Form 4?
A footnote states that a May 12, 2025 Form 4 contained an administrative error overstating RSU and PSU grants dated May 8, 2025. The amendment clarifies accurate grant amounts and that these awards will be settled in common stock when they vest.