SIMONE LAGOMARSINO - 20 Feb 2024 Form 4 Insider Report for Luther Burbank Corp (LBC)

Signature
/s/ Dawn Alger, power of attorney for Simone Lagomarsino
Issuer symbol
LBC
Transactions as of
20 Feb 2024
Net transactions value
-$94,053
Form type
4
Filing time
21 Feb 2024, 18:56:18 UTC
Previous filing
02 Jan 2024
Next filing
01 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LBC Common Stock Tax liability $94,053 -9,787 -16% $9.61 49,653 20 Feb 2024 Direct F1, F2
holding LBC Common Stock 195,603 20 Feb 2024 By Self as Trustee of the Allan and Lagomarsino Revocable Trust UAD 2/10/2017, as amended F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects payment of tax liability by withholding shares of stock incident to accelerated vesting of restricted stock or the release of restricted stock units previously issued. The accelerated vesting or the release of stock was in connection with the Agreement and Plan of Reorganization between the Issuer and WaFd, Inc. ("WaFd", f/k/a Washington Federal, Inc.), dated November 13, 2022, as amended, pursuant to which the Issuer plans to merge with and into WaFd on or about February 29, 2024.
F2 On 1/11/2024, 21,775 shares previously held by the reporting person directly were transferred into the Allan and Lagomarsino Revocable Trust UAD 2/10/2017 (the "Trust") in a transaction exempt from Section 16 reporting pursuant to Rule 16a-13.
F3 Shares of Common Stock are held by Ms. Lagomarsino as Trustee of the Allan and Lagomarsino Revocable Trust UAD 2/10/2017, as amended. Ms. Lagomarsino possesses the voting and investment power with respect to the shares of Common Stock held by the trust.