Robert Franko - Jul 21, 2021 Form 4 Insider Report for First Choice Bancorp (FCBP)

Role
President & CEO
Signature
/s/ Khoi Dang, as attorney in fact for Robert M. Franko
Stock symbol
FCBP
Transactions as of
Jul 21, 2021
Transactions value $
-$389,695
Form type
4
Date filed
7/22/2021, 07:24 PM
Previous filing
May 27, 2021
Next filing
May 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FCBP Common Stock Tax liability -$390K -13.4K -32.9% $29.06 27.3K Jul 21, 2021 Direct F1, F2
transaction FCBP Common Stock Disposed to Issuer $0 -27.3K -100% $0.00* 0 Jul 21, 2021 Direct F2
transaction FCBP Common Stock Disposed to Issuer $0 -36.1K -100% $0.00* 0 Jul 21, 2021 Franko Rev. Living Trust F2
transaction FCBP Common Stock Disposed to Issuer $0 -11.5K -100% $0.00* 0 Jul 21, 2021 IRA F2

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 FCBP Stock Options (Right to buy) Disposed to Issuer -32.4K -100% 0 Jul 21, 2021 Common Stock 32.4K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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

Explanation of Responses:

Id Content
F1 Shares withheld solely for the purpose of satisfying tax liability due upon vesting of restricted stock award.
F2 Shares disposed of pursuant to the Agreement and Plan of Merger, dated as of April 26, 2021 (the "Merger Agreement"), by and among First Choice Bancorp. ("Issuer"), and Enterprise Financial Services Corp ("Enterprise"), on July 21, 2021, Issuer was merged with and into Enterprise, with Enterprise continuing as the surviving corporation (the "Merger"). At the time of the Merger, each share of Issuer common stock was converted into the right to receive Merger consideration consisting of 0.6603 shares of Enterprise common stock. Disposed shares includes unvested restricted stock previously granted under the First Choice Bancorp 2013 Omnibus Stock Incentive Plan which became fully vested at the time of the Merger and eligible to receive Merger Consideration.
F3 Represents shares subject to stock options that are being cancelled pursuant to the terms of that certain Merger Agreement, dated April 26, 2021, by and between the Issuer, First Choice Bank, Enterprise Financial Services Corp and Enterprise Bank & Trust. The stock options will be cancelled and will no longer be exercisable effective as of the closing date of the Merger, July 21, 2021.