Baker Robert James Jr 4

What Happened

• Robert James Baker Jr, SVP and Banking Division Manager at Westamerica Bancorporation (WABC), received equity awards on 2026-01-22. He was credited with 1,360 shares at $0 (vested restricted performance shares) and a derivative award of 15,800 units/shares valued at $51.15 each, totaling $808,170.
• These transactions are awards/grants (code A) — not open-market purchases or sales — and represent compensation or incentive equity rather than a trade.

Key Details

• Transaction date: 2026-01-22; Form 4 filed 2026-01-26 (filed within the standard two-business-day window).
• Award details:
  • 1,360 shares @ $0.00 — vested restricted performance shares (footnote F1).
  • 15,800 derivative shares @ $51.15 = $808,170 (reported as a derivative award).
• Shares owned after the transaction: Not stated in the provided filing excerpt.
• Footnotes of note:
  • F1: Restricted Performance Shares granted in 2023 have vested upon meeting performance criteria (explains the $0 vested shares).
  • F2: Options (if any) vest ratably over three years beginning one year from grant (general vesting schedule noted in the filing).
• No indication this filing was late.

Context

• "Derivative" awards typically mean restricted stock units or performance-share rights that convert into actual shares upon vesting or meeting conditions — they are compensation awards, not market purchases.
• Awards and vesting events are common executive compensation; they do not directly signal insider buying or selling intent.