CHENG DUNSON K 4

What Happened

• Cheng Dunson K, Executive Chairman and Director of Cathay General Bancorp (CATY), received 83,886 shares on April 1, 2026 through the vesting/conversion of performance-based restricted stock units (reported as derivative conversions). No cash was paid to acquire these shares (acquisition price $0).
• To cover tax withholding, 13,320 of those shares were surrendered (code F) at an implied price of $50.69 per share, resulting in $675,190 withheld to satisfy tax liabilities. Net shares retained by Cheng after withholding: 70,566 (83,886 gross − 13,320 withheld).

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 3, 2026 (timely).
• Acquisition entries shown at $0 reflect vesting/conversion of performance-based RSUs (transaction code M); withholding entries (code F) show 4,081, 5,647 and 3,592 shares withheld at $50.69.
• Total gross shares vested: 83,886. Shares withheld for taxes: 13,320 (cash value $675,190).
• Footnotes: these were performance-based RSUs granted July 27, 2023 and vested December 31, 2025. Specific performance multipliers noted: 9,997-target earned at 121.74%; 10,466-target earned at 150%; 20,932-target earned at 52.875%.
• Shares owned after the transaction are not specified in the provided excerpt of the filing.

Context

• These were vesting performance RSUs (conversion of derivatives), not open-market purchases or option exercises requiring cash payment for strike price. The withholding of shares to cover taxes is a common administrative step and does not indicate an open-market sale decision.
• Awards like these reflect prior compensation grants and the achievement of performance goals; they are informative about compensation realization but do not by themselves indicate the insider’s view of the company’s stock.