LEE JOHNNY C 4
4 · RBB Bancorp · Filed Feb 24, 2026
Research Summary
AI-generated summary of this filing
RBB Bancorp CEO Johnny C. Lee Receives 1,098 Shares (RSU Vesting)
What Happened
Johnny C. Lee, President, CEO and a director of RBB Bancorp (RBB), received 1,098 shares on 2026-02-20 through conversion/vesting of a derivative/RSU award. The gross value of the shares at the reported price ($22.20) was $24,376. To satisfy tax withholding, 453 of those shares were surrendered (disposed) valued at $10,057, leaving a net receipt of 645 shares (net value ≈ $14,319).
Key Details
- Transaction date: 2026-02-20; Form 4 filed 2026-02-24 (timely filing).
- Reported prices and values: 1,098 shares @ $22.20 = $24,376 (acquired); 453 shares withheld @ $22.20 = $10,057 (disposed).
- Codes: M = exercise/conversion of derivative (vesting/conversion of RSUs); F = shares disposed to cover tax withholding.
- Net shares added to holdings: 645 shares (1,098 acquired − 453 withheld).
- Shares owned after transaction: not specified in the filing.
- Relevant footnote: these shares relate to the 02/21/2024 RSU grant (vesting schedule noted in footnote F3).
Context
This was not an open-market buy or sale by the CEO but the vesting/conversion of equity awards (RSUs/derivative conversion) with a routine tax-withholding disposition of some shares. Such transactions are common when restricted stock or similar awards vest and do not, by themselves, indicate a change in the insider’s view of the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock, No Par Value
2026-02-20$22.20/sh+1,098$24,376→ 10,573 total - Tax Payment
Common Stock, No Par Value
2026-02-20$22.20/sh−453$10,057→ 10,120 total - Exercise/Conversion
Restricted Stock Units
[F3][F2][F8]2026-02-20−1,098→ 1,098 totalExercise: $22.20→ Common Stock (2,196 underlying)
- 5,500
Restricted Stock Units
[F1][F2][F8]Exercise: $0.00→ Common Stock (11,000 underlying) - 5,282
Restricted Stock Units
[F4][F2][F8]Exercise: $0.00→ Common Stock (5,282 underlying) - 12,332
Performance Stock Units
[F5][F2][F8]Exercise: $0.00→ Common Stock (12,332 underlying) - 13,068
Restricted Stock Units
[F6][F2][F8]Exercise: $0.00→ Common Stock (13,068 underlying) - 19,602
Performance Stock Units
[F7][F2][F8]Exercise: $0.00→ Common Stock (19,602 underlying)
Footnotes (8)
- [F1]These restricted stock units vest in three equal annual installments beginning one year after the 07/20/2023 date of grant.
- [F2]There will be no expiration date once restricted stock units vest.
- [F3]These restricted stock units vest in three equal annual installments beginning one year after the 02/21/2024 date of grant.
- [F4]These restricted stock units vest in three equal annual installments beginning one year after the 03/20/2024 date of grant.
- [F5]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.
- [F6]These restricted stock units vest in three equal annual installments beginning one year after the 05/08/2025 date of grant.
- [F7]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.
- [F8]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.