Watkins Philip 4

What Happened Philip Watkins, EVP and Head of Corporate Development at Customers Bancorp (CUBI), had 568 shares withheld on April 8, 2026 to satisfy tax withholding related to the vesting of previously issued restricted stock. The withheld shares were valued at $73.80 each, totaling $41,918. This was a tax-withholding disposition (not an open-market sale or purchase).

Key Details

• Transaction date: 2026-04-08; filing date: 2026-04-10 (filed within the normal Form 4 window).
• Shares withheld: 568 at $73.80 per share; total value reported $41,918.
• Nature of transaction: Tax withholding upon RSU vesting (footnote F1).
• Holdings note: Filing footnote F2 states holdings include 15,249 Restricted Stock Units.
• Filing status: Timely (no late filing flag reported).

Context Withholdings to cover taxes on vested restricted stock are routine and represent surrender of shares to satisfy tax obligations rather than a market sale intended to realize gains. The amount here (~$42k) is relatively small and should be viewed as administrative/tax-related rather than a directional insider trade.