A number of trusts disclosed an aggregate 45.76% stake in Luther Burbank Corp., which on Dec. 12 announced the completion of its IPO.
The Madelyne Victoria Trione Trust, Victor Henry David Trione Trust, Denise Catherine Trione 1997 Irrevocable Trust, Sally Patricia Trione 1997 Irrevocable Trust, Henry Mark Trione 1997 Irrevocable Trust, and trustees John Francis Hamann and Theodore Hellman, reported owning 24,780,000 shares in total. The 45.76% figure is based on the Santa Rosa, Calif.-based company's 54,150,000 common shares outstanding as of Dec. 7, if the underwriters' overallotment option is not exercised.
The trusts were established for the benefit of the children of Luther Burbank Chairman Victor Trione and former board member Mark Trione.
