Tarantino Laura 4
4 · Luther Burbank Corp · Filed Feb 21, 2024
Insider Transaction Report
Form 4
Tarantino Laura
EVP, Chief Financial Officer
Transactions
- Tax Payment
Common Stock
2024-02-20$9.61/sh−26,076$250,590→ 112,835 total - Disposition to Issuer
Common Stock
2024-02-20$9.61/sh−26,057$250,408→ 86,778 total
Holdings
- 10,651(indirect: By Trust)
Common Stock
Footnotes (3)
- [F1]Reflects payment of tax liability by withholding shares of stock incident to accelerated vesting of restricted stock or the release of restricted stock units previously issued. The accelerated vesting or the release of stock was in connection with the Agreement and Plan of Reorganization between the Issuer and WaFd, Inc. ("WaFd", f/k/a Washington Federal, Inc.), dated November 13, 2022, as amended, pursuant to which the Issuer plans to merge with and into WaFd on or about February 29, 2024 (the "Merger").
- [F2]On 2/20/2024, 26,057 deferred restricted stock units held by the reporting person that were previously to be settled in shares of stock were converted into a right to receive cash with a value equal to the same number of shares of stock on the conversion date and such cash is expected to be paid to the reporting person on 2/23/2024. The conversion was in connection with the Merger.
- [F3]Shares of Common Stock are held by Ms. Tarantino as Trustee of the Tarantino Rev Lvg Tr dated 10/15/04. Ms. Tarantino possesses the voting and investment power with respect to the shares of Common Stock held by the trust.