SEC Form 4 · accession 0001721135-17-000006
Luther Burbank Corp · LBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jose A Casillas
Officer — SVP,Director of Retail Banking
Period of report
Dec 20, 2017
Accepted (ET)
Dec 21, 2017 · 3:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001475348
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 20, 2017 | A | 37,960 | $0.00 | A | 38,460 | D | |
| Common StockF2 | Dec 21, 2017 | A | 18,605 | $0.00 | A | 57,065 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person received one restricted stock unit in exchange for each previously awarded phantom stock share. No changes were made to the prior vesting schedule or to deferral elections, if any. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.
- F2The reporting person received a restricted stock award subject to a three-year vesting schedule, vesting 33.34% on the one year anniversary date of the grant, 33.33% on the second year anniversary, and 33.33% on the third year anniversary. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock shares that have vested.