Scott Alexander Myers - 03 Aug 2023 Form 4 Insider Report for California BanCorp

Role
SEVP, Chief Lending Offier
Signature
/s/ Scott Myers, by Debra Bradford, attorney-in-fact
Issuer symbol
N/A
Transactions as of
03 Aug 2023
Net transactions value
-$197,424
Form type
4
Filing time
31 Jul 2024, 17:42:04 UTC
Previous filing
03 Mar 2023
Next filing
27 Dec 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CALB Common Stock Sale $60,720 -3,254 -17% $18.66 16,133 03 Aug 2023 Direct F1, F2
transaction CALB Common Stock Sale $63,280 -2,564 -17% $24.68 12,879 01 Feb 2024 Direct F2
transaction CALB Common Stock Sale $9,495 -413 -3.8% $22.99 10,315 01 Mar 2024 Direct F2
transaction CALB Common Stock Sale $13,898 -632 -6% $21.99 9,902 12 Apr 2024 Direct F2
transaction CALB Common Stock Sale $17,805 -806 -8% $22.09 9,270 29 Apr 2024 Direct F2
transaction CALB Common Stock Sale $3,802 -174 -2% $21.85 8,464 09 May 2024 Direct F2
transaction CALB Common Stock Sale $28,426 -1,298 -14% $21.90 8,290 12 Jun 2024 Direct F2
transaction CALB Common Stock Disposed to Issuer $0 -8,290 -100% $0.000000* 0 31 Jul 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 -20,000 -100% 0 31 Jul 2024 Common Stock 20,000 $19.02 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5,500 -100% 0 31 Jul 2024 Common Stock 5,500 $11.50 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5,500 -100% 0 31 Jul 2024 Common Stock 5,500 $18.17 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5,500 -100% 0 31 Jul 2024 Common Stock 5,500 $23.04 Direct F5
transaction CALB Stock Option (right to buy) Disposed to Issuer -5,500 -100% 0 31 Jul 2024 Common Stock 5,500 $25.33 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Scott Alexander 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.