Watkins Philip 4

What Happened

• Philip Watkins, EVP and Head of Corporate Development at Customers Bancorp (CUBI), had 1,260 shares withheld to cover tax liabilities upon the vesting of previously issued restricted stock. The withholding occurred in two tranche dates: 641 shares on 2026-03-14 at $64.72 ($41,486) and 619 shares on 2026-03-15 at $64.72 ($40,062), totaling approximately $81,548.
• This was a tax-withholding disposition (code F), not an open-market sale or a purchase — a routine, administrative action that accompanies RSU vesting.

Key Details

• Transaction dates & prices: 2026-03-14 — 641 shares @ $64.72 ($41,486); 2026-03-15 — 619 shares @ $64.72 ($40,062).
• Transaction type: F — shares withheld to satisfy tax withholding on vested restricted stock.
• Filing date / report period: Form 4 filed 2026-03-17; period of report 2026-03-14.
• Footnotes: F1 — shares withheld for taxes upon vesting of previously issued restricted stock award. F2 — "Includes 21,121 Restricted Stock Units." F3 — "Includes 19,712 Restricted Stock Units."
• Shares owned after transaction: filing references the RSU amounts above in footnotes; the Form 4 does not present a single consolidated post-transaction total beyond those notes.

Context

• Tax-withholding on vested RSUs is routine and does not indicate an insider selling shares for investment reasons; withheld shares are surrendered to cover taxes rather than sold on the open market.
• For assessing insider sentiment, open-market purchases or outright sales are generally more informative than withholding events.