Steven R. Gardner - Mar 15, 2023 Form 4 Insider Report for PACIFIC PREMIER BANCORP INC (PPBI)

Role
Chairman, President & CEO, Director
Signature
/s/ Steven R. Gardner
Stock symbol
PPBI
Transactions as of
Mar 15, 2023
Transactions value $
-$383,813
Form type
4
Date filed
3/17/2023, 07:50 PM
Previous filing
Dec 21, 2022
Next filing
Apr 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PPBI PPBI Common Stock Award $0 +70.3K +19.07% $0.00 439K Mar 15, 2023 Direct F1, F2
transaction PPBI PPBI Common Stock Tax liability -$384K -15.4K -3.51% $24.91 423K Mar 15, 2023 Direct F2, F3

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 PPBI PPBI Restricted Stock Unit Award $0 +70.3K $0.00 70.3K Mar 15, 2023 PPBI Common Stock 70.3K Direct F4, F5
holding PPBI PPBI Restricted Stock Unit 92.9K Mar 15, 2023 PPBI Common Stock 92.9K Direct F4, F5
holding PPBI PPBI Restricted Stock Unit 47.1K Mar 15, 2023 PPBI Common Stock 47.1K Direct F4, F5
holding PPBI PPBI Restricted Stock Unit 58.2K Mar 15, 2023 PPBI Common Stock 58.2K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock with an evenly distributed 3-year vesting schedule.
F2 Includes 155,717 shares of restricted stock subject to a vesting schedule set forth in the restricted stock grant and subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant.
F3 Represents shares withheld to cover the tax liability incident to the vesting of Restricted Stock Awards.
F4 Each Restricted Stock Unit represents the right to receive one share of common stock. The amount reported reflects the targeted number of Restricted Stock Units that may vest, if at all, following the third anniversary of the date of grant upon confirmation of achievement of certain predetermined performance goals over a 3-year performance period. Depending on the actual performance achieved, the reporting person may receive between 0% and 200% of the targeted amount. 50% vesting will be based on the Company's 3-year average relative total shareholder return percentile range compared to the Keefe, Bruyette & Woods, Inc. Regional Banking Index ("KRX"). 25% vesting will be based on the Company's average ROAA percentile performance as compared to KRX companies over the performance period. 25% vesting will be based on the Company's average ROATCE percentile performance as compared to the KRX companies over the performance period.
F5 Not applicable.