Miguel Palacios - Feb 16, 2023 Form 4 Insider Report for Amerant Bancorp Inc. (AMTB)

Role
Executive Vice-President and Head of Commercial Banking
Signature
/s/ Julio V. Pena, as Attorney-in-Fact for Miguel Palacios
Stock symbol
AMTB
Transactions as of
Feb 16, 2023
Transactions value $
-$50,512
Form type
4
Date filed
2/21/2023, 05:04 PM
Previous filing
Dec 14, 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 +4.44K +13.17% $0.00 38.1K Feb 16, 2023 Direct F1
transaction AMTB Class A Common Stock Tax liability -$50.5K -1.75K -4.58% $28.93 36.4K Feb 16, 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 LTI 2021 Options Exercise $0 -3K -50% $0.00 3K Feb 16, 2023 Class A Common Stock 3K $0.00 Direct F1, F3
transaction AMTB Restricted Stock Units LTI 2022 Options Exercise $0 -1.43K -33.33% $0.00 2.87K Feb 16, 2023 Class A Common Stock 1.43K $0.00 Direct F1, F4
* 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 1,746 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. Palacios was awarded 9,009 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. Palacios remains in the continuous service of the Company or a subsidiary through each such date.
F4 On February 16, 2022, Mr. Palacios was awarded 4,300 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. Palacios remains in the continuous service of the Company or a subsidiary through each such date.

Remarks:

Executive Vice-President and Head of Commercial Banking