Courtney E. Sowers - Jul 7, 2023 Form 4 Insider Report for RIVERVIEW BANCORP INC (RVSB)

Role: PRESIDENT/CEO - TRUST CO.
Signature: /s/ Courtney E. Sowers
Stock symbol: RVSB
Transactions as of: Jul 7, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/11/2023, 05:39 PM
Previous filing: Dec 15, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RVSB	Common Stock	Award	$0	+2.88K		$0.00	2.88K	Jul 7, 2023	Direct	F1
transaction	RVSB	Common Stock	Award	$0	+5.8K	+201.49%	$0.00	8.68K	Jul 7, 2023	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects restricted stock awarded to the Reporting Person pursuant to the 2017 Equity Incentive Plan which vest in three equal installments on July 7, 2024, July 7, 2025, and July 7, 2026.
F2	Reporting Person was granted an award of performance based restricted stock covering a target of 5,801 shares (the "Target Restricted Stock Number"). Pursuant to time-based vesting requirements, 50% of this award is scheduled to vest on July 7, 2025 and 50% on July 7, 2026, subject to continued service requirements through such date. In addition, the number of shares subject to the restricted stock may be decreased down to 0% of the Target Restricted Stock Number, based on attainment of specified levels of the Company's total Earnings Per Share over the period of April 1, 2023 through March 31, 2024.

Content

Reflects restricted stock awarded to the Reporting Person pursuant to the 2017 Equity Incentive Plan which vest in three equal installments on July 7, 2024, July 7, 2025, and July 7, 2026.

Reporting Person was granted an award of performance based restricted stock covering a target of 5,801 shares (the "Target Restricted Stock Number"). Pursuant to time-based vesting requirements, 50% of this award is scheduled to vest on July 7, 2025 and 50% on July 7, 2026, subject to continued service requirements through such date. In addition, the number of shares subject to the restricted stock may be decreased down to 0% of the Target Restricted Stock Number, based on attainment of specified levels of the Company's total Earnings Per Share over the period of April 1, 2023 through March 31, 2024.