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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
PPBI Restricted Stock Unit | (5) | 02/28/2019 | A | 9,213 | (5) | (6) | PPBI Common Stock | 9,213 | $ 0 | 9,213 | D | ||||
Options on PPBI Common Stock | $ 15.68 | (7) | 01/02/2024 | PPBI Common Stock | 20,000 | 20,000 | D | ||||||||
Options on PPBI Common Stock | $ 15.16 | (8) | 01/28/2025 | PPBI Common Stock | 2,964 | 2,964 | D | ||||||||
PPBI Restricted Stock Unit | (9) | (9) | (6) | PPBI Common Stock | 364 | 364 | D | ||||||||
PPBI Restricted Stock Unit | (10) | (10) | (6) | PPBI Common Stock | 5,945 | 5,945 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
RICE TOM 17901 VON KARMAN SUITE 1200 IRVINE, CA 92614 |
SEVP/ Chief Innovation Officer |
Tom Rice | 03/01/2019 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Restricted Stock with an evenly distributed 3 year vesting schedule. |
(2) | On March 1, 2019, the reporting person transferred 1,981 directly owned shares of PPBI common stock to the Rice Family Trust, dated March 28, 2018 (the "Trust"), Tom Rice, Co-Trustee. The reporting person shares voting and disposition control over shares held by the Trust. |
(3) | Includes 34,270 shares of restricted stock subject to a vesting schedule set forth in the restricted stock grant and subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant. |
(4) | These shares are held by the Trust. The reporting person shares voting and dispositive control over shares held by the Trust. |
(5) | Each Restricted Stock Unit represents the right to receive one share of common stock. The amount reported reflects the targeted number of Restricted Stock Units that may vest upon achievement of certain predetermined performance goals and assuming continued employment through the vesting period. Depending on the actual performance achieved, the reporting person may receive between 0% and 200% of such targeted amount. The Restricted Stock Units will vest, if at all, on February 28, 2022. Vesting will be tied entirely to performance, measured by a 3-year average relative total shareholder return percentile range compared to the Keefe, Bruyette & Woods, Inc. Regional Banking Index. |
(6) | Not applicable. |
(7) | The options vests in three equal annual installments beginning on 1/2/2015. |
(8) | The options vests in three equal annual installments beginning on 1/28/2016. |
(9) | Each Restricted Stock Unit represents the right to receive one share of common stock. The Restricted Stock Units will vest annually, if at all, commencing January 26, 2018 in three installments of 1/3 of the reported number of Restricted Stock Units. |
(10) | Each Restricted Stock Unit represents the right to receive one share of common stock. The amount reported reflects the targeted number of Restricted Stock Units that may vest upon achievement of certain predetermined performance goals and assuming continued employment through the vesting period. Depending on the actual performance achieved, the reporting person may receive between 0% and 200% of such targeted amount. The Restricted Stock Units will vest, if at all, on February 28, 2021. Vesting will be tied entirely to performance, measured by a 3-year average relative total shareholder return percentile range compared to the Keefe, Bruyette & Woods, Inc. Regional Banking Index. |