Watkins Philip 4

What Happened

• Philip Watkins, EVP and Head of Corporate Development at Customers Bancorp (CUBI), had 1,392 shares withheld to satisfy tax withholding on the vesting of previously issued restricted stock. The shares were recorded at $70.41 each, for a notional value of $98,011. This was a tax-withholding disposition (transaction code F), not an open-market sale or purchase.

Key Details

• Transaction date: 2026-04-04; Filing date (Form 4): 2026-04-07
• Action: Shares withheld to cover taxes upon vesting (F)
• Shares withheld/disposed: 1,392 at $70.41 each; total value shown $98,011
• Footnote: F1 — shares withheld for taxes upon vesting of previously issued restricted stock award
• Footnote: F2 — holdings reported include 16,542 Restricted Stock Units
• No indication this was part of a 10b5-1 plan or a late filing in the Form 4

Context

• This is a routine tax-withholding event tied to the vesting of restricted stock, not a discretionary sale that would signal a change in insider sentiment. For retail investors, tax-withholdings are common and do not necessarily reflect the insider buying or selling shares for investment reasons.