Watkins Philip 4

What Happened

• Philip Watkins, Executive Vice President and Head of Corporate Development at Customers Bancorp (CUBI), was granted 3,941 restricted stock units (RSUs) on March 13, 2026. The grant is reported at $64.72 per share, totaling $255,062. This transaction is an award/grant (not a market purchase or sale).

Key Details

• Transaction type: A (Award/Grant of RSUs)
• Transaction date: 2026-03-13; reported filing date: 2026-05-28 (filing appears late relative to the usual 2-business-day Form 4 deadline)
• Price/value: 3,941 RSUs × $64.72 = $255,062
• Shares owned after transaction: Not specified in the provided excerpt
• Notable footnotes:
  • F1: Grant was contingent on shareholder approval of an amendment to the Issuer's 2019 Stock Incentive Plan; that approval was obtained on May 26, 2026.
  • F2: Filing notes “Includes 19,190 Restricted Stock Units” — the excerpt does not clarify whether this number reflects total RSUs held after the grant or relates to other reported holdings.
• Timeliness: Filed 2026-05-28 for a 2026-03-13 transaction (late filing), which reduces near-term transparency for investors.

Context

• RSUs are awards that generally convert to shares upon vesting and are not an immediate market purchase; they signal compensation alignment rather than direct buying or selling. Because the grant was contingent on shareholder approval (which was later obtained on May 26, 2026), the award was effective only after that approval. For retail investors, note that awards convey insider compensation/retention intent but are not the same as an insider buying additional shares with personal funds.