Stellar Bancorp, Inc. — Director's Dealing 2023

May 5, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Stellar Bancorp, Inc. (STEL)
CIK: 0001473844
Period of Report: 2023-05-04

Reporting Person: Penland Joe Sr (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-04	Common Stock	P	16488	$20.9168	Acquired	577864	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	724636	Indirect
Common Stock	227170	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.7500 to $21.0000, inclusive. The reporting person undertakes to provide to Stellar Bancorp, Inc., any security holder of Stellar Bancorp, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth.

F2: The reporting is the manager and member of Tram Road Managers, LLC, a Texas limited liability company, which is the general partner of Tram Road Partners, LP, a Texas limited partnership. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all the reported securities for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended. or for any other purpose.

F3: The reporting person serves as trustee of the Penland Foundation. The reporting person disclaims beneficial ownership of these securities except of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, or for any other purpose.