Form 4 for BANC BANC OF CALIFORNIA, INC.
Accepted 2023-12-04 00:00:00 ET · period of report 2023-11-30 · accession 0001562180-23-008074 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M | 2023-12-04 | 2023-11-30 | BANC | Sparks Monica L | CAO | A - Grant | $0.00 | +15.1K | 4,000 | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-11-30 | A | A | 11,145 | $0.00 | 11,145 | D | — | — | (F1) Represents shares acquired pursuant to the Agreement and Plan of Merger, dated July 25, 2023, by and among Issuer, PacWest Bancorp ("PACW") and Cal Merger Sub, Inc. (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, at the effective time (the "Effective Time") of the merger between PACW and Cal Merger Sub, Inc. (the "Merger"), each share of PACW common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive 0.6569 shares of Issuer common stock (the Merger Consideration) with cash-in-lieu of any fractional share. (F2) Includes restricted stock awards of 7,543 shares of Issuer's common stock acquired from the conversion of PACW restricted stock awards ("PACW RSAs") pursuant to the Merger Agreement. Pursuant to the terms of the Merger Agreement, at the Effective Time, PACW RSAs were assumed by Issuer and converted into the right to receive the Merger Consideration in respect of each share of PACW common stock subject to such PACW RSAs immediately prior the Effective Time subject to the same terms and conditions as applicable under the PACW RSAs (including vesting terms), with any fractional shares rounded to the nearest whole share of Issuer's common stock. |
| 2 | Common | Depositary Shares of Series A Preferred Stock | 2023-11-30 | A | A | 4,000 | $0.00 | 4,000 | D | — | — | (F3) Represents Issuer's depositary shares and shares of underlying preferred stock acquired in exchange for substantially equivalent depositary shares and underlying preferred stock of PACW in connection with the transactions contemplated by the Merger Agreement. |