Jonah Schnel - 11 May 2023 Form 4 Insider Report for BANC OF CALIFORNIA, INC. (BANC)

Role
Director
Signature
/s/ Ido Dotan, Attorney-in-Fact for Jonah Schnel
Issuer symbol
BANC
Transactions as of
11 May 2023
Net transactions value
$0
Form type
4
Filing time
12 May 2023, 20:02:29 UTC
Previous filing
16 May 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BANC Common Stock Award $0 +6,863 +179% $0.000000 10,700 11 May 2023 Direct F1
holding BANC Common Stock 500 11 May 2023 Held by Spouse's Retirement Savings Account
holding BANC Common Stock 67,571 11 May 2023 Held by the Schnel Family Trust 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
holding BANC Stock Option 2,808 11 May 2023 Common Stock 2,808 $13.75 Direct F3
holding BANC Stock Option 2,808 11 May 2023 Common Stock 2,808 $13.75 Direct F3
holding BANC Stock Option 918 11 May 2023 Common Stock 918 $10.90 Direct F3
holding BANC Stock Options 918 11 May 2023 Common Stock 918 $10.90 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs") issued to the Reporting Person as consideration for his service on the Issuer's Board of Directors. Shares will be issued in full upon vesting, which is scheduled to occur on the one-year anniversary of the grant date.
F2 Amount reported includes 3,989 shares transferred into the Schnel Family Trust previously reported as directly held.
F3 Options will vest annually in substantially equal installments over a five-year period beginning on the one-year anniversary of the grant date. In accordance with the Non-Qualified Stock Option Agreement, by and between the Reporting Person and the Issuer, dated July 1, 2014 and July 1, 2015 (the "Option Agreements"), in the event the Reporting Person is subject to a Qualified Termination of Service (as defined in the Option Agreements), this award will automatically become fully vested.