Robert Anderson - Oct 18, 2021 Form 4 Insider Report for PACIFIC MERCANTILE BANCORP (PMBC)

Signature
/s/ Curt A. Christianssen, as attorney in fact for Robert Anderson
Stock symbol
PMBC
Transactions as of
Oct 18, 2021
Transactions value $
-$1,695,090
Form type
4
Date filed
10/19/2021, 03:53 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PMBC Common Stock Sale -$1.18M -126K -100% $9.31 0 Oct 18, 2021 Direct F1
transaction PMBC Common Stock Sale -$28.9K -3.1K -100% $9.31 0 Oct 18, 2021 Spouse F1

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 PMBC Common Stock Option Sale -$107K -11.5K -100% $9.31 0 Oct 18, 2021 Common Stock 11.5K $8.15 Direct F1
transaction PMBC Common Stock Option Sale -$73.9K -7.93K -100% $9.31 0 Oct 18, 2021 Common Stock 7.93K $7.10 Direct F1
transaction PMBC Common Stock Option Sale -$192K -20.6K -100% $9.31 0 Oct 18, 2021 Common Stock 20.6K $6.77 Direct F1
transaction PMBC Common Stock Option Sale -$116K -12.5K -100% $9.31 0 Oct 18, 2021 Common Stock 12.5K $6.24 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Robert Anderson 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.