Juan Esterripa - Feb 16, 2024 Form 4 Insider Report for Amerant Bancorp Inc. (AMTB)

Role
SEVP, Head of Commercial Banking.
Signature
/s/ Julio V. Pena, as Attorney-in-Fact for Juan Esterripa
Stock symbol
AMTB
Transactions as of
Feb 16, 2024
Transactions value $
$0
Form type
4
Date filed
2/21/2024, 04:42 PM
Previous filing
Apr 26, 2023
Next filing
Apr 19, 2024

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 2024 Award $0 +8.92K $0.00 8.92K Feb 16, 2024 Class A Common Stock 8.92K $0.00 Direct F1, F2
transaction AMTB Performance Based Restricted Stock Units LTI 2024 Award $0 +13.4K $0.00 13.4K Feb 16, 2024 Class A Common Stock 13.4K $0.00 Direct F3, 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 ("RSU") is the economic equivalent of one share of Class A Common Stock.
F2 On February 16, 2024, Mr. Esterripa was awarded 8,920 RSUs, each representing 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. Esterripa remains in the continuous service of the Company or a subsidiary through each such date.
F3 Each performance-based restricted stock unit (PSUs) is the economic equivalent of one share of Class A Common Stock.
F4 PSUs awarded to Mr. Esterripa, each representing the right to receive, following vesting, one share of Class A Common Stock. The actual number of PSUs 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, 2024 and ending on December 31, 2026, and in general can range from 50% to 150% of the PSUs. The number reported reflects the maximum number of PSUs Mr. Esterripa may earn.

Remarks:

SEVP, Head of Commercial Banking.