FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT 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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1. Name and Address of Reporting Person * Gunther Blaine C.   2. Issuer Name and Ticker or Trading Symbol People's Utah Bancorp [PUB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O PEOPLE?S UTAH BANCORP, 1 EAST MAIN STREET 3. Date of Earliest Transaction (Month/Day/Year) 07/01/2016 (Street) AMERICAN FORK, UT 84003 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 03/30/2017   G(1)   122,774 A $ 0 122,774 I Gunther Investments, L.C. Common Shares 03/30/2017   G(1)   792,088 D $ 0 0 I Blaine Gunther Investments L.C. Common Shares 03/30/2017   M(2)   3,604 A $ 11.1 69,920 I The Blaine C. Gunther Trust Common Shares 03/30/2017   M(2)   4,329 A $ 16.53 78,365 I The Blaine C. Gunther Trust Common Shares 03/30/2017   M(2)   4,116 A $ 17 74,036 I The Blaine C. Gunther Trust

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

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)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Share Option (right to buy)

$ 11.1

03/30/2017

M

3,604

07/01/2015

07/01/2019

Common Shares

3,604

$ 0

0

D

Share Option (right to buy)

$ 17

03/30/2017

M

4,116

07/01/2016

07/01/2020

Common Shares

4,116

$ 0

0

D

Share Option (right to buy)

$ 16.53

03/30/2017

M(3)

4,329

03/19/2017

07/01/2022

Common Shares

4,329

$ 0

0

D

Share Option (right to buy)

$ 16.53

07/01/2016

A

4,329

07/01/2017

07/01/2022

Common Shares

4,329

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Gunther Blaine C. C/O PEOPLE?S UTAH BANCORP 1 EAST MAIN STREET AMERICAN FORK, UT 84003	X

Signatures

/s/ Wolfgang T. N. Muelleck, Attorney-in-fact		04/03/2017
**Signature of Reporting Person		Date

Explanation of Responses:

*	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)	The 792,088 common shares held by Blaine Gunther Investments LC were transferred to Gunther Investments, L.C., an entity in which Blaine Gunther and his spouse are members but do not have the ability to exercise any control. As a result, Mr. Gunther is only the beneficial owner of 122,774 common shares held through Gunther Investments, L.C.
(2)	The common shares received upon exercise of the options by Blaine C. Gunther were transferred to The Blaine C. Gunther Trust. An additional 66,316 common shares were transferred from the Gunther Family Trust to The Blaine C. Gunther Trust.
(3)	The Board of Directors approved early vesting of these shares to March 19, 2017.

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