Akin Okan I. 4

What Happened
Akin Okan I., Senior Executive Vice President & Chief Risk Officer of Stellar Bancorp (STEL), received two equity awards on March 1, 2026: 2,855 restricted shares and 2,855 performance share units (PSUs), for a total of 5,710 shares. Both awards were reported at an acquisition price of $0.00 (grant awards), so no cash was paid by the insider.

Key Details

• Transaction date: 2026-03-01; Form 4 filed: 2026-03-03 (timely filing).
• Award details: 2,855 restricted shares (Footnote F1) and 2,855 PSUs (Footnote F2); both reported as code "A" (award/grant).
• Grant price: $0.00 (standard for equity compensation grants); total reported acquisition value $0.
• Vesting: Restricted shares vest in approximately equal installments on March 1 of 2027, 2028 and 2029 (F1). PSUs are subject to time and performance vesting conditions (F2).
• Shares owned after transaction: not specified in this filing.

Context
Restricted shares and PSUs are common forms of executive compensation. Restricted shares vest over time (conditional on continued employment); PSUs only convert to shares if time and performance targets are met. These grants are compensation-related awards rather than open-market purchases or sales and therefore do not directly indicate a personal purchase conviction or a sale of stock.