Vitulli, III Ramon A. 4

What Happened
Ramon A. Vitulli III, President of Stellar Bancorp (STEL), received two awards on March 1, 2026: one grant of 6,041 restricted common shares and one award of 6,041 performance share units (PSUs). Both transactions are coded as awards/acquisitions (A) and were reported at $0.00 (no cash was paid). Total awarded equity equals 12,082 shares (6,041 restricted shares + 6,041 PSUs). These are compensation awards rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-03-01; Filing date: 2026-03-03 (Form 4 filed within the normal 2-business-day window).
• Price reported: $0.00 for both awards (no cash exchanged).
• Award breakdown: 6,041 restricted shares (F1) and 6,041 performance share units (F2).
• Vesting / conditions: F1 restricted shares vest in approximately equal installments on March 1 of 2027, 2028 and 2029, subject to continued employment. F2 PSUs are subject to time and performance vesting conditions.
• Shares owned after transaction: not specified in the provided filing.
• Transaction code: A = award/grant. No 10b5-1, tax withholding, or late-filing flags noted in the filing.

Context
Restricted shares and PSUs are common forms of executive compensation. Restricted shares typically convert to common stock after time-based vesting, while PSUs vest only if company performance goals and service conditions are met. Because these were compensation awards (not open-market purchases or sales), they reflect pay structure rather than an immediate buying or selling decision by the insider.