Lee Michael Eugene 4

What Happened

• Michael E. Lee, Senior VP and Chief Regulatory Officer of Five Star Bancorp (FSBC), reported two transactions on May 21, 2026: an open-market or private sale of 867 shares at $41.23 each for proceeds of $35,746, and the receipt of 905 shares as a grant/award (priced at $0.00, i.e., restricted stock).
• The sale is a disposition (code S) and the award is a grant of restricted stock (code A). Sales are often routine transactions; the award represents equity compensation that generally vests over time.

Key Details

• Transaction dates and prices:
  • 2026-05-21 — Sold 867 shares @ $41.23 (total $35,746).
  • 2026-05-21 — Received 905 shares as an award @ $0.00 (restricted stock).
• Shares owned after transaction: Not specified in the provided filing.
• Notable footnotes:
  • F1: References previously granted awards under the Five Star Bancorp 2021 Equity Incentive Plan (e.g., 6,000-share and 907-share grants with portions already vested and the remainder vesting in equal annual installments over five years).
  • F2: Some shares are held by The Michael E. Lee & Kaylin M. Fadel‑Lee Family Revocable Trust, where Mr. Lee is a trustee.
  • F3: The 905-share award vests annually in equal installments over five years, provided continued employment.
• Timeliness: The Form 4 was filed on 2026-05-26 for transactions dated 2026-05-21 (filed five days after the transactions). Form 4s are generally required within two business days of a transaction, so this filing was late.

Context

• The award is restricted stock that vests over multiple years (not an immediate saleable purchase), so it’s a compensation grant rather than an open‑market buy signal.
• The sale reduces Mr. Lee’s holdings by 867 shares; without the post-transaction holdings reported, the filing doesn’t show his total stake.