JAY S. SIDHU - 22 Jan 2023 Form 4 Insider Report for Customers Bancorp, Inc. (CUBI)

Role
Chairman & CEO, Director
Signature
/s/ Jay S. Sidhu by Andrew Sachs under Power of Attorney
Issuer symbol
CUBI
Transactions as of
22 Jan 2023
Net transactions value
-$185,359
Form type
4
Filing time
27 Feb 2023, 11:32:49 UTC
Previous filing
09 Jan 2023
Next filing
13 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CUBI Common Stock Tax liability $104,906 -3,371 -0.3% $31.12 1,124,778 22 Jan 2023 Direct F1, F2, F3
transaction CUBI Common Stock Tax liability $80,454 -2,602 -0.23% $30.92 1,122,176 23 Feb 2023 Direct F1, F3, F4
holding CUBI Common Stock 179,410 22 Jan 2023 Trust F5
holding CUBI Common Stock 167,290 22 Jan 2023 Trust F6, F7
holding CUBI Common Stock 167,290 22 Jan 2023 Trust F6, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld for taxes upon vesting of previously issued restricted stock award.
F2 Includes 60,472 Restricted Stock Units, including 46,345 shares mistakenly reported as vested RSUs rather than vested PSUs, which resulted in an underreporting of total shares by the same amount.
F3 Includes 8,170 shares acquired pursuant to Customers Bancorp, Inc.'s Employee Stock Purchase Plan.
F4 Includes 49,790 Restricted Stock Units.
F5 Jay S. Sidhu, A/K/A Jashinder S. Sidhu, FBO Sherry K. Sidhu, A/K/A/ Pushpinder K. Sidhu, and Descendants Irrevocable Trust.
F6 The shares were mistakenly aggregated with direct holdings and shares held by a spouse since 05/25/2022.
F7 Sherry K. Sidhu, A/K/A Pushpinder K. Sidhu, Family Trust No. 1
F8 Sherry K. Sidhu, A/K/A Pushpinder K. Sidhu, Family Trust No. 2.