0001028918-21-000046.txt : 20210302
0001028918-21-000046.hdr.sgml : 20210302
20210302210428
ACCESSION NUMBER: 0001028918-21-000046
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210228
FILED AS OF DATE: 20210302
DATE AS OF CHANGE: 20210302
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: RICE TOM
CENTRAL INDEX KEY: 0001576227
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-22193
FILM NUMBER: 21706845
MAIL ADDRESS:
STREET 1: 17901 VON KARMAN AVENUE
STREET 2: SUITE 1200
CITY: IRVINE
STATE: CA
ZIP: 92614
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PACIFIC PREMIER BANCORP INC
CENTRAL INDEX KEY: 0001028918
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 330743196
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 17901 VON KARMAN AVE
STREET 2: SUITE 1200
CITY: IRVINE
STATE: CA
ZIP: 92614
BUSINESS PHONE: 949-864-8000
MAIL ADDRESS:
STREET 1: 17901 VON KARMAN AVE
STREET 2: SUITE 1200
CITY: IRVINE
STATE: CA
ZIP: 92614
4
1
wf-form4_161473704964464.xml
FORM 4
X0306
4
2021-02-28
0
0001028918
PACIFIC PREMIER BANCORP INC
PPBI
0001576227
RICE TOM
17901 VON KARMAN
SUITE 1200
IRVINE
CA
92614
0
1
0
0
SEVP/ Chief Innovation Officer
PPBI Common Stock
2021-02-28
4
M
0
5427
A
36151
D
PPBI Common Stock
2021-02-28
4
M
0
427
A
36578
D
PPBI Common Stock
2021-02-28
4
F
0
5693
40.30
D
30885
D
PPBI Common Stock
2021-03-02
5
G
0
E
5214
0
D
25671
D
PPBI Common Stock
2021-03-02
5
G
0
E
5214
0
A
61480
I
By The Rice Family Trust
PPBI Restricted Stock Unit
2021-02-28
4
M
0
5945
0
D
PPBI Common Stock
5945.0
0
D
Dividend Equivalent Rights
2021-02-28
4
M
0
427
D
PPBI Common Stock
427.0
0
D
PPBI Restricted Stock Unit
PPBI Common Stock
9213.0
9213
D
The Restricted Stock Units had a service-based vesting component as well as performance vesting requirement. While the reporting person has satisfied the service-based vesting requirement, the actual amount of Restricted Stock Units which vested on February 28, 2021 was 91.3% of the target amount based upon the results of the 3-year average relative total shareholder return percentile range compared to the Keefe, Bruyette & Woods, Inc. Regional Banking. As such, the reporting person received 518 less shares than initially reported on Form 4 in February 2018.
Restricted Stock Units convert into common stock on a one-for-one basis.
Each dividend equivalent right is the economic equivalent of one share of common stock.
Represents shares withheld to cover the tax liability incident to the vesting of Restricted Stock Units, Restricted Stock Awards and dividend equivalent rights.
Includes 23,071 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.
On March 2, 2021, the reporting person transferred 5,214 directly owned shares of PPBI common stock to the Rice Family Trust, dated March 28, 2018 (the "Trust"), Tom Rice, Co-Trustee. The reporting person shares voting and disposition control over shares held by the Trust.
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 upon achievement of certain predetermined performance goals and assuming continued employment through the vesting period. Depending on the actual performance achieved, the reporting person may receive between 0% and 200% of such targeted amount. The Restricted Stock Units will vest, if at all, on February 28, 2021. Vesting will be tied entirely to performance, measured by a 3-year average relative total shareholder return percentile range compared to the Keefe, Bruyette & Woods, Inc. Regional Banking.
Not applicable.
Dividend equivalent rights accrue on the reporting person's Restricted Stock Units and become vested proportionately with the Restricted Stock Units.
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 upon achievement of certain predetermined performance goals and assuming continued employment through the vesting period. Depending on the actual performance achieved, the reporting person may receive between 0% and 200% of such targeted amount. The Restricted Stock Units will vest, if at all, on February 28, 2022. 50% vesting will be tied entirely to performance, measured by a 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.
/s/ Tom Rice
2021-03-02