Tom Rice - 28 Feb 2022 Form 4 Insider Report for PACIFIC PREMIER BANCORP INC (PPBI)

Role
SEVP/ Chief Innovation Officer
Signature
/s/ Tom Rice
Issuer symbol
PPBI
Transactions as of
28 Feb 2022
Net transactions value
-$65,110
Form type
4
Filing time
02 Mar 2022, 18:25:05 UTC
Next filing
17 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 Tax liability $65,110 -1,682 -6.1% $38.71 25,735 28 Feb 2022 Direct F1, F2
transaction PPBI PPBI Common Stock Gift $0 -1,389 -5.4% $0.000000 24,346 28 Feb 2022 Direct F2, F3
transaction PPBI PPBI Common Stock Gift $0 +1,389 +2.2% $0.000000 64,815 28 Feb 2022 By The Rice Family Trust F3

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
holding PPBI PPBI Restricted Stock Unit 9,213 28 Feb 2022 PPBI Common Stock 9,213 Direct F4, F5
holding PPBI PPBI Restricted Stock Unit 5,746 28 Feb 2022 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 Represents shares withheld to cover the tax liability incident to the vesting of Restricted Stock Awards.
F2 Includes 21,746 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.
F3 On March 2, 2022, the reporting person transferred 1,389 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 dispositive control over shares held by the Trust.
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.