Rebecca H. Cordes - Feb 28, 2022 Form 4 Insider Report for PACWEST BANCORP (PACW)

Signature
/s/ Rebecca H. Cordes
Stock symbol
PACW
Transactions as of
Feb 28, 2022
Transactions value $
-$160,912
Form type
4
Date filed
3/2/2022, 05:35 PM
Previous filing
Feb 17, 2022
Next filing
Jun 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PACW Common Stock Tax liability -$120K -2.43K -6.11% $49.42 37.3K Feb 28, 2022 Direct F1, F2
transaction PACW Common Stock Tax liability -$41K -829 -2.22% $49.42 36.5K Feb 28, 2022 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of shares of Issuer's common stock that Reporting Person surrendered to Issuer for the satisfaction of Reporting Person's tax withholding obligations upon the vesting of 8,230 shares of restricted stock on February 28, 2022.
F2 Reflects market closing price on February 28, 2022.
F3 On February 6, 2019, Reporting Person was granted performance restricted stock units ("PRSUs"). Vesting of the PRSUs was conditioned upon the achievement of certain performance goals and an employment condition. On February 15, 2022, actual performance against goals for the applicable performance period was determined and the Reporting Person was awarded 2,822 shares of Issuer's common stock to vest on February 28, 2022 subject to the Reporting Person's satisfaction of the employment condition. The amount reported in column 4 represents the number of shares of Issuer's common stock that Reporting Person surrendered to Issuer for the satisfaction of Reporting Person's tax withholding obligations upon the vesting of the 2,822 shares of Issuer's common stock on February 28, 2022.