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

Role
SEVP Chief Financial Officer
Signature
/s/ Julio V. Pena, as Attorney-in-Fact for Carlos Iafigliola
Stock symbol
AMTB
Transactions as of
Feb 16, 2023
Transactions value $
-$51,669
Form type
4
Date filed
2/21/2023, 04:30 PM
Previous filing
Dec 14, 2022
Next filing
Jul 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMTB Class A Common Stock Options Exercise $0 +4.54K +61.32% $0.00 11.9K Feb 16, 2023 Direct F1
transaction AMTB Class A Common Stock Tax liability -$51.7K -1.79K -14.97% $28.93 10.1K 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 -2.29K -50% $0.00 2.29K Feb 16, 2023 Class A Common Stock 2.29K $0.00 Direct F1, F3
transaction AMTB Restricted Stock Units LTI 2022 Options Exercise $0 -1.25K -33.33% $0.00 2.5K Feb 16, 2023 Class A Common Stock 1.25K $0.00 Direct F1, F4
transaction AMTB Restricted Stock Units Options Exercise $0 -1K -33.33% $0.00 2K Feb 16, 2023 Class A Common Stock 1K $0.00 Direct F1, F5
transaction AMTB Restricted Stock Units LTI 2023 Award $0 +4.82K $0.00 4.82K Feb 16, 2023 Class A Common Stock 4.82K $0.00 Direct F1, F6
transaction AMTB Performance Based Restricted Stock Units LTI 2023 Award $0 +7.23K $0.00 7.23K Feb 16, 2023 Class A Common Stock 7.23K $0.00 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 1,786 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. Iafigliola was awarded 6,854 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. Iafigliola remains in the continuous service of the Company or a subsidiary through each such date.
F4 On February 16, 2022, Mr. Iafigliola was awarded 3,750 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. Iafigliola remains in the continuous service of the Company or a subsidiary through each such date.
F5 On February 16, 2022, Mr. Iafigliola was awarded 3,000 restricted stock units as a one-time special recognition and retention award. 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. Iafigliola remains in the continuous service of the Company or a subsidiary through each such date.
F6 On February 16, 2023, Mr. Iafigliola was awarded 4,822 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. Iafigliola 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. Iafigliola 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. Iafigliola may earn at the end of the performance period.