LEE JOHNNY C 4

What Happened

• Johnny C. Lee, President & CEO and director of RBB Bancorp (RBB), had 2,740 restricted stock units convert to 2,740 common shares on March 20, 2026. The gross value of those shares at the reported price ($20.43) was $55,978.
• To cover tax withholding related to the vesting, 984 shares were surrendered/withheld (valued at roughly $20,103). Net shares issued to Lee from this vesting were 1,756 shares (2,740 − 984).

Key Details

• Transaction dates and prices: Conversion/settlement on 2026-03-20; reported price $20.43/share; gross value $55,978; tax-withholding value $20,103.
• Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = shares delivered/withheld to satisfy tax liability.
• Shares owned after transaction: Not specified in the filing.
• Relevant footnote: These were RSUs from the 03/20/2024 grant that vest in three equal annual installments beginning 03/20/2024 (see footnote F4). Remarks clarify shares were issued for RSU vesting and some shares were disposed to cover tax withholding.
• Filing timing: Form filed 2026-03-24 reporting a 2026-03-20 transaction (filed four days after the transaction; the usual Form 4 window is two business days).

Context

• This was a routine RSU vesting and tax-withholding settlement, not an open-market sale for cash proceeds (though shares were surrendered/withheld to cover taxes). Such transactions commonly reflect compensation vesting rather than an independent purchase or sell decision.
• For retail investors: vesting and tax withholding are administrative events; they don't necessarily signal CEO buying or selling intent in the market.