Frank Muller - Jul 31, 2024 Form 4 Insider Report for California BanCorp (CALB)

Role: Director
Signature: /s/ Frank L. Muller, by Debra Bradford, attorney-in-fact
Stock symbol: CALB
Transactions as of: Jul 31, 2024
Transactions value $: $0
Form type: 4
Date filed: 7/31/2024, 05:26 PM
Previous filing: Jul 22, 2024
Next filing: Aug 12, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CALB	Common Stock	Disposed to Issuer	$0	-18.7K	-100%	$0.00^*	0	Jul 31, 2024	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Frank Muller is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated January 31, 2024 (the "Merger Agreement"), by and between the Issuer and Southern California Bancorp ("BCAL"). Pursuant to the terms of the Merger Agreement, at the effective time of the merger, each share of Issuer common stock converted into the right to receive 1.590 shares of BCAL common stock (the "Exchange Ratio"), with cash paid in lieu of fractional shares. As a result of the merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Issuer common stock.
F2	Includes restricted stock units with respect to 1,399 shares of the Issuer's common stock. Pursuant to the Merger Agreement, at the effective time of the merger, the restricted stock units were assumed by BCAL and converted into a restricted stock units with respect to a number of shares of BCAL common stock equal to the number of issuer shares underlying the restricted stock unit multiplied by the Exchange Ratio.

Content

Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated January 31, 2024 (the "Merger Agreement"), by and between the Issuer and Southern California Bancorp ("BCAL"). Pursuant to the terms of the Merger Agreement, at the effective time of the merger, each share of Issuer common stock converted into the right to receive 1.590 shares of BCAL common stock (the "Exchange Ratio"), with cash paid in lieu of fractional shares. As a result of the merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Issuer common stock.

Includes restricted stock units with respect to 1,399 shares of the Issuer's common stock. Pursuant to the Merger Agreement, at the effective time of the merger, the restricted stock units were assumed by BCAL and converted into a restricted stock units with respect to a number of shares of BCAL common stock equal to the number of issuer shares underlying the restricted stock unit multiplied by the Exchange Ratio.