Michael S. Karr - 02 Nov 2021 Form 4 Insider Report for PACIFIC PREMIER BANCORP INC (PPBI)

Role
SEVP & Chief Risk Officer
Signature
/s/ Michael S. Karr
Issuer symbol
PPBI
Transactions as of
02 Nov 2021
Net transactions value
+$23.42
Form type
4
Filing time
04 Nov 2021, 18:37:41 UTC
Next filing
02 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PPBI PPBI Common Stock Options Exercise $78,369 +4,998 +6.8% $15.68 78,499 02 Nov 2021 Direct F1
transaction PPBI PPBI Common Stock Options Exercise $76,937 +5,075 +6.5% $15.16 83,574 02 Nov 2021 Direct F1
transaction PPBI PPBI Common Stock Tax liability $155,282 -3,602 -4.3% $43.11 79,972 02 Nov 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PPBI Options on PPBI Common Stock Options Exercise $0 -4,998 -25% $0.000000 15,002 02 Nov 2021 PPBI Common Stock 4,998 $15.68 Direct F2
transaction PPBI Options on PPBI Common Stock Options Exercise $0 -5,075 -20% $0.000000 19,925 02 Nov 2021 PPBI Common Stock 5,075 $15.16 Direct F3
holding PPBI PPBI Restricted Stock Unit 8,375 02 Nov 2021 PPBI Common Stock 8,375 Direct F4, F5
holding PPBI PPBI Restricted Stock Unit 5,746 02 Nov 2021 PPBI Common Stock 5,746 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 20,538 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.
F2 The options vests in three equal annual installments beginning on 1/2/2015.
F3 The options vests in three equal annual installments beginning on 1/28/2016.
F4 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. 50% 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 ("KRX"). 25% vesting will be based on the Company's average ROAA percentile performance as compared to KRX companies over the Performance Period. 25% vesting will be based on the Company's average ROATCE percentile performance as compared to the KRX companies over the Performance Period.
F5 Not applicable.
F6 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 March 15, 2024. 50% 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 ("KRX"). 25% vesting will be based on the Company's average ROAA percentile performance as compared to KRX companies over the Performance Period. 25% vesting will be based on the Company's average ROATCE percentile performance as compared to the KRX companies over the Performance Period.