LEE JOHNNY C 4

What Happened

• Johnny C. Lee, President, CEO and a director of RBB Bancorp (RBB), had derivative awards converted/exercised that resulted in issuance of 4,356 shares on 2026-05-08. The reported exercise/issuance value was $104,762 (4,356 shares × $24.05). To satisfy tax/withholding obligations, 1,563 shares (valued at $37,590) were surrendered/disposed, leaving a net 2,793 shares issued to him. The filing notes these shares were issued for vesting of a 05/08/2025 RSU grant and some were used to settle tax withholding.

Key Details

• Transaction date: 2026-05-08.
• Primary entries: 4,356 shares acquired via exercise/conversion at $24.05 (total $104,762); 1,563 shares disposed to cover tax/exercise obligations at $24.05 (total $37,590). A related derivative conversion entry is reported at $0.00 (administrative conversion of award).
• Net new shares retained by Lee: 2,793 (4,356 − 1,563).
• Shares owned after transaction: not stated in the provided filing excerpt.
• Footnotes/vesting: filing references RSU/PSU vesting schedules and performance conditions; remark notes these shares related to the 05/08/2025 RSU vesting and tax withholding. Several awards have future vesting dates/conditions (see filing footnotes).
• Filing timeliness: filing date and period of report are both 2026-05-08 (no late filing indicated).

Context

• This was essentially an award vesting / derivative conversion with a routine share withholding to cover taxes — a common administrative step that does not necessarily signal buy/sell intent on the market. The transaction combined an acquisition (exercise/vest) with a partial disposition solely for tax payment.