Gerald P. Plush - 16 Feb 2023 Form 4 Insider Report for Amerant Bancorp Inc. (AMTB)

Role
Chairman & CEO, Director
Signature
/s/ Julio V. Pena, as Attorney-in-Fact for Gerald P. Plush
Issuer symbol
AMTB
Transactions as of
16 Feb 2023
Net transactions value
-$389,398
Form type
4
Filing time
21 Feb 2023, 16:27:23 UTC
Previous filing
14 Dec 2022
Next filing
26 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMTB Class A Common Stock Options Exercise $0 +34,204 +108% $0.000000 65,825 16 Feb 2023 Direct F1
transaction AMTB Class A Common Stock Tax liability $389,398 -13,460 -20% $28.93 52,365 16 Feb 2023 Direct F2

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 -20,792 -50% $0.000000 20,793 16 Feb 2023 Class A Common Stock 20,792 $0.000000 Direct F1, F3
transaction AMTB Restricted Stock Units LTI 2021 Options Exercise $0 -8,508 -50% $0.000000 8,509 16 Feb 2023 Class A Common Stock 8,508 $0.000000 Direct F1, F4
transaction AMTB Restricted Stock Units LTI 2022 Options Exercise $0 -4,904 -33% $0.000000 9,810 16 Feb 2023 Class A Common Stock 4,904 $0.000000 Direct F1, F5
transaction AMTB Restricted Stock Units LTI 2023 Award $0 +18,665 $0.000000 18,665 16 Feb 2023 Class A Common Stock 18,665 $0.000000 Direct F1, F6
transaction AMTB Performance Based Restricted Stock Units LTI 2023 Award $0 +27,999 $0.000000 27,999 16 Feb 2023 Class A Common Stock 27,999 $0.000000 Direct F7, F8
* 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 This number reflects an aggregate of 13,460 shares of Class A Common Stock that were surrendered in order to satisfy the reporting person's tax withholding obligation upon the vesting of the restricted stock units.
F3 On February 16, 2021, Mr. Plush was awarded 62,377 restricted stock units in connection with a sign-on grant related to Mr. Plush's appointment as Vice-Chairman and CEO. 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.
F4 On February 16, 2021, Mr. Plush 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. 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.
F5 On February 16, 2022, Mr. Plush 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.
F6 On February 16, 2023, Mr. Plush was awarded 18,665 restricted stock units under the 2023-2025 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.
F7 Each performance based restricted stock unit is the economic equivalent of one share of Class A Common Stock.
F8 Performance based restricted stock units awarded to Mr. Plush under the 2023-2025 Long Term Incentive 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 and Human Capital Committee for a 3-year period beginning January 1, 2023 and ending on December 31, 2025, 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 reflects the maximum number of performance based restricted stock units Mr. Plush may earn at the end of the performance period.