Nancy A. Gray - Oct 18, 2021 Form 4 Insider Report for PACIFIC MERCANTILE BANCORP (PMBC)

Role: CAO
Signature: /s/ Curt A. Christianssen, attorney in fact for Nancy A. Gray
Stock symbol: PMBC
Transactions as of: Oct 18, 2021
Transactions value $: -$168,399
Form type: 4
Date filed: 10/19/2021, 02:54 PM
Previous filing: May 19, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PMBC	Common Stock	Sale	-$168K	-18.1K	-100%	$9.31	0	Oct 18, 2021	Direct	F1

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

Nancy A. Gray is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Pursuant to the Merger Agreement by and between Pacific Mercantile Bancorp and Banc of California, Inc. dated March 22, 2021 (the "Agreement"), all vested shares of Pacific Mercantile Bancorp will be converted to Banc of California, Inc. shares at a 2:1 ratio. The vesting of all options, RSAs and RSUs (the "Incentives") were accelerated and cashed out upon the close of the merger that occurred on October 18, 2021. The price per share used to cash out these Incentives was $9.31, and was determined pursuant to the Agreement.

Content

Pursuant to the Merger Agreement by and between Pacific Mercantile Bancorp and Banc of California, Inc. dated March 22, 2021 (the "Agreement"), all vested shares of Pacific Mercantile Bancorp will be converted to Banc of California, Inc. shares at a 2:1 ratio. The vesting of all options, RSAs and RSUs (the "Incentives") were accelerated and cashed out upon the close of the merger that occurred on October 18, 2021. The price per share used to cash out these Incentives was $9.31, and was determined pursuant to the Agreement.