Michael S. Karr - Mar 15, 2022 Form 4 Insider Report for PACIFIC PREMIER BANCORP INC (PPBI)

Signature
/s/ Michael S. Karr
Stock symbol
PPBI
Transactions as of
Mar 15, 2022
Transactions value $
-$312,095
Form type
4
Date filed
3/17/2022, 09:03 PM
Previous filing
Mar 2, 2022
Next filing
Apr 1, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PPBI PPBI Common Stock Award $0 +9.48K +12.09% $0.00 87.9K Mar 15, 2022 Direct F1
transaction PPBI PPBI Common Stock Options Exercise +12.8K +14.57% 101K Mar 15, 2022 Direct F2
transaction PPBI PPBI Common Stock Options Exercise +1.33K +1.32% 102K Mar 15, 2022 Direct F3
transaction PPBI PPBI Common Stock Tax liability -$312K -8.45K -8.29% $36.93 93.6K Mar 15, 2022 Direct F4, F5

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 PPBI Restricted Stock Unit Award $0 +9.48K $0.00 9.48K Mar 15, 2022 PPBI Common Stock 9.48K Direct F6, F7
transaction PPBI PPBI Restricted Stock Unit Options Exercise $0 -8.38K -100% $0.00* 0 Mar 15, 2022 PPBI Common Stock 8.38K Direct F2, F6, F7
transaction PPBI Dividend Equivalent Rights Options Exercise -1.33K -100% 0 Mar 15, 2022 PPBI Common Stock 1.33K Direct F3, F7
holding PPBI PPBI Restricted Stock Unit 5.75K Mar 15, 2022 PPBI Common Stock 5.75K Direct F6, F7
holding PPBI Options on PPBI Common Stock 15K Mar 15, 2022 PPBI Common Stock 15K $15.68 Direct F8
holding PPBI Options on PPBI Common Stock 19.9K Mar 15, 2022 PPBI Common Stock 19.9K $15.16 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock with an evenly distributed 3-year vesting schedule.
F2 On February 28, 2019, Reporting Person was granted Restricted Stock Units which convert into common stock on a one-for-one basis, the vesting of which was conditioned upon the achievement of certain performance goals. On March 15, 2022, actual performance against goals for the applicable performance period was determined and the Reporting Person was awarded 12,805 shares of common stock.
F3 Each dividend equivalent right is the economic equivalent of one share of common stock. Dividend equivalent rights accrue on the reporting person's Restricted Stock Units and become vested proportionately with the Restricted Stock Units.
F4 Represents shares withheld to cover the tax liability incident to the vesting of Restricted Stock Units, Restricted Stock Awards and dividend equivalent rights.
F5 Includes 25,308 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.
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, if at all, following the third anniversary of the date of grant upon confirmation of achievement of certain predetermined performance goals over a 3-year performance period. Depending on the actual performance achieved, the reporting person may receive between 0% and 200% of the targeted amount. 50% vesting will be based on the Company's 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.
F7 Not applicable.
F8 The options vests in three equal annual installments beginning on 1/2/2015.
F9 The options vests in three equal annual installments beginning on 1/28/2016.