West Joe F 4

What Happened

• Joe F. West, Senior Executive Vice President and Chief Credit Officer of Stellar Bancorp (STEL), was granted two awards on 2026-03-01 totaling 6,452 shares: 3,226 restricted shares and 3,226 performance share units (PSUs). Each grant shows an acquisition price of $0.00 (awarded shares), so no cash was paid for these shares. This was an award/grant transaction (code A), not an open-market purchase or sale.

Key Details

• Transaction date: March 1, 2026
• Grant detail: 3,226 restricted common shares (F1) and 3,226 performance share units (PSUs) (F2)
• Grant price: $0.00 per share; total recorded value on Form 4 = $0
• Total shares awarded: 6,452
• Vesting/conditions:
  • F1 (restricted shares): vest in approximately equal installments on Mar 1, 2027, 2028 and 2029, subject to continued employment
  • F2 (PSUs): subject to both time and performance vesting conditions
• Shares owned after transaction: Not specified in the filing
• Filing date: March 3, 2026 — appears timely (Form 4 filed shortly after the grant)
• Transaction code: A (award/grant); no 10b5-1 plan or tax-withholding details disclosed in the summary

Context

• These awards are compensation-based grants intended for retention and performance incentives; they are not immediate purchases or sales. PSUs only convert to actual shares (if they do) upon meeting time and performance conditions, so they may never result in delivery of all awarded shares. Such grants are common for executives and do not by themselves indicate a buy or sell signal.