Scott Myers - Aug 3, 2023 Form 4 Insider Report for California BanCorp (CALB)

Role
SEVP, Chief Lending Offier
Signature
/s/ Scott Myers, by Debra Bradford, attorney-in-fact
Stock symbol
CALB
Transactions as of
Aug 3, 2023
Transactions value $
-$197,424
Form type
4
Date filed
7/31/2024, 05:42 PM
Previous filing
Mar 3, 2023
Next filing
Dec 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CALB Common Stock Sale -$60.7K -3.25K -16.78% $18.66 16.1K Aug 3, 2023 Direct F1, F2
transaction CALB Common Stock Sale -$63.3K -2.56K -16.6% $24.68 12.9K Feb 1, 2024 Direct F2
transaction CALB Common Stock Sale -$9.49K -413 -3.85% $22.99 10.3K Mar 1, 2024 Direct F2
transaction CALB Common Stock Sale -$13.9K -632 -6% $21.99 9.9K Apr 12, 2024 Direct F2
transaction CALB Common Stock Sale -$17.8K -806 -8% $22.09 9.27K Apr 29, 2024 Direct F2
transaction CALB Common Stock Sale -$3.8K -174 -2.01% $21.85 8.46K May 9, 2024 Direct F2
transaction CALB Common Stock Sale -$28.4K -1.3K -13.54% $21.90 8.29K Jun 12, 2024 Direct F2
transaction CALB Common Stock Disposed to Issuer $0 -8.29K -100% $0.00* 0 Jul 31, 2024 Direct F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CALB Stock Option (right to buy) Disposed to Issuer -20K -100% 0 Jul 31, 2024 Common Stock 20K $19.02 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5.5K -100% 0 Jul 31, 2024 Common Stock 5.5K $11.50 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5.5K -100% 0 Jul 31, 2024 Common Stock 5.5K $18.17 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5.5K -100% 0 Jul 31, 2024 Common Stock 5.5K $23.04 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5.5K -100% 0 Jul 31, 2024 Common Stock 5.5K $25.33 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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

Explanation of Responses:

Id Content
F1 This is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.43 to $18.68. The reporting person undertakes to provide to the Issuer, any security holder, 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 range set forth in this footnote.
F2 This total amount corrects an administrative error in the total amount reported in previous filings. No reportable transaction was omitted from previously filings, as supplemented by this filing.
F3 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 8,290 shares of the Issuer's common stock. Pursuant to the Merger Agreement, at the effective time of the merger, the reporting person's restricted stock units vested and reporting person became entitled to receive a number of shares BCAL common stock equal to the number of shares of issuer common stock underlying the restricted stock unit multiplied by the
F4 (Continued from footnote 3) Exchange Ratio.
F5 Pursuant to the Merger Agreement, at the effective time of the merger, each of the reporting person's stock options was converted in to the right to receive the amount, if any, by which the option's exercise price exceeds $22.98 (the value of the per share merger consideration), less required tax withholdings.