Gerald P. Plush - Feb 16, 2022 Form 4 Insider Report for Amerant Bancorp Inc. (AMTB)

Signature
/s/ Julio V. Pena, as Attorney-in-Fact for Gerald P. Plush
Stock symbol
AMTB
Transactions as of
Feb 16, 2022
Transactions value $
-$391,789
Form type
4
Date filed
2/18/2022, 04:09 PM
Previous filing
Dec 1, 2021
Next filing
Jul 26, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMTB Class A Common Stock Options Exercise $0 +20.8K +171.83% $0.00 32.9K Feb 16, 2022 Direct F1, F2
transaction AMTB Class A Common Stock Tax liability -$278K -8.18K -24.88% $33.98 24.7K Feb 16, 2022 Direct F3
transaction AMTB Class A Common Stock Options Exercise $0 +8.51K +34.43% $0.00 33.2K Feb 16, 2022 Direct F1
transaction AMTB Class A Common Stock Tax liability -$114K -3.35K -10.08% $33.98 29.9K Feb 16, 2022 Direct F4

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 AMTB Restricted Stock Units Options Exercise $0 -20.8K -33.33% $0.00 41.6K Feb 16, 2022 Class A Common Stock 20.8K $0.00 Direct F1, F5, F6
transaction AMTB Restricted Stock Units LTI 2021 Options Exercise $0 -8.51K -33.33% $0.00 17K Feb 16, 2022 Class A Common Stock 8.51K $0.00 Direct F1, F7, F8
transaction AMTB Restricted Stock Units LTI 2022 Award $0 +14.7K $0.00 14.7K Feb 16, 2022 Class A Common Stock 14.7K $0.00 Direct F1, F12
transaction AMTB Performance Based Restricted Stock Units LTI 2022 Award $0 +22.1K $0.00 22.1K Feb 16, 2022 Class A Common Stock 22.1K $0.00 Direct F9, F13
holding AMTB Performance Based Restricted Stock Units 62.4K Feb 16, 2022 Class A Common Stock 62.4K $0.00 Direct F9, F10
holding AMTB Performance Based Restricted Stock Units LTI 2021 38.3K Feb 16, 2022 Class A Common Stock 38.3K $0.00 Direct F9, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit is the economic equivalent of one share of Class A Common Stock.
F2 As set forth in footnotes 5 and 7 below more fully, the reporting person had previously reported 87,902 restricted stock units in Table 1 of Form 4. The total reported in column 5 has been adjusted to subtract 58,602 restricted stock units that have not yet vested and are now being reported in Table II of Form 4.
F3 This number reflects an aggregate of 8,172 shares of Class A Common Stock that were surrendered in order to satisfy the reporting person's tax withholding obligation upon the vesting of 20,792 restricted stock units.
F4 This number reflects an aggregate of 3,348 shares of Class A Common Stock that were surrendered in order to satisfy the reporting person's tax withholding obligation upon the vesting of 8,508 restricted stock units.
F5 On February 16, 2021, the reporting person was awarded 62,377 restricted stock units in connection with a sign-on grant related to the reporting person's appointment as Vice-Chairman and CEO. The 62,377 restricted stock units were originally reported by the reporting person in Table I of Form 4. Each restricted stock unit represents the right to receive, following vesting, one share of Class A common stock. The award vests in substantially equal installments on each of the first three anniversaries of the date of grant, provided that Mr. Plush remains in the continuous service of the Company or a subsidiary through each such date.
F6 On February 16, 2021, the reporting person was granted 62,377 restricted stock units, vesting in three equal installments beginning on the first anniversary of the grant date.
F7 On February 16, 2021 the reporting person was awarded 25,525 restricted stock units under the 2021-2023 Long Term Incentive Plan, a sub-plan of the 2018 Equity and Incentive Compensation Plan. The 25,525 restricted stock units were originally reported by the reporting person in Table I of Form 4. Each restricted stock unit represents the right to receive, following vesting, one share of Class A common stock. The award vests in substantially equal installments on each of the first three anniversaries of the date of grant, provided that Mr. Plush remains in the continuous service of the Company or a subsidiary through each such date.
F8 On February 16, 2021, the reporting person was granted 25,525 restricted stock units, vesting in three equal installments beginning on the first anniversary of the grant date.
F9 Each Performance Based Restricted Stock Unit is the economic equivalent of one share of Class A Common Stock.
F10 Performance based restricted stock units awarded to Mr. Plush in connection with a sign-on grant related to Mr. Plush's appointment as Vice-Chairman and CEO. Each performance based restricted stock unit represents the right to receive, following vesting, one share of Class A common stock. The actual number of performance based restricted stock units earned shall be based on the achievement of the Relative Total Shareholder Return at a Threshold or Target level set by the Compensation Committee for a 3-year period beginning January 1, 2021 and ending on December 31, 2023, and in general can range from 50% of the performance based restricted stock units to 100% of the performance based restricted stock units. The number of performance based restricted stock units reported reflect the maximum number of performance based restricted stock units Mr. Plush may earn at the end of the performance period.
F11 Performance based restricted stock units awarded to Mr. Plush under the 2021-2023 Long Term Inventive Plan, a sub-plan of the 2018 Equity and Incentive Compensation Plan. Each performance based restricted stock unit represents the right to receive, following vesting, one share of Class A common stock. The actual number of performance based restricted stock units earned shall be based on the achievement of the Relative Total Shareholder Return at a Threshold, Target or Maximum level set by the Compensation Committee for a 3-year period beginning January 1, 2021 and ending on December 31, 2023, and in general can range from 50% of the performance based restricted stock units to 150% of the performance based restricted stock units. The number of performance based restricted stock units reported reflect the maximum number of performance based restricted stock units Mr. Plush may earn at the end of the performance period.
F12 On February 16, 2022 the reporting person was awarded 14,714 restricted stock units under the 2022-2024 Long Term Incentive Plan, a sub-plan of the 2018 Equity and Incentive Compensation Plan. Each restricted stock unit represents the right to receive, following vesting, one share of Class A common stock. The award vests in substantially equal installments on each of the first three anniversaries of the date of grant, provided that Mr. Plush remains in the continuous service of the Company or a subsidiary through each such date.
F13 Each performance based restricted stock unit represents the right to receive, following vesting, one share of Class A common stock. The actual number of performance-based restricted stock units earned shall be based on the achievement of the Relative Total Shareholder Return at a Threshold, Target or Maximum level set by the Compensation Committee for a 3-year period beginning January 1, 2022, and ending on December 31, 2024, and in general can range from 50% of the performance based restricted stock units to 150% of the performance based restricted stock units. The number of performance-based restricted stock units reported reflect the maximum number of performance-based restricted stock units Mr. Plush may earn at the end of the performance period.

Remarks:

Vice-Chairman, President and Chief Executive Officer.