Bryan M. Corsini - 30 Nov 2023 Form 4 Insider Report for PACWEST BANCORP

Reporting relationship: EVP, CHIEF CREDIT OFFICER
Issuer ticker: N/A
Reported as of: 30 Nov 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 30 Nov 2023, 21:45:21 UTC
Prior SEC filing: 02 Mar 2023
Next SEC filing: 01 May 2024
Source filing: View source filing
Reporting owner signature: /s/ Angela M.W. Kelley, Attorney-in-Fact

Key filing fact

Bryan M. Corsini filed Form 4 for PACWEST BANCORP on 30 Nov 2023.

Key facts

This page summarizes Bryan M. Corsini's Form 4 filing for PACWEST BANCORP.
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 30 Nov 2023, 21:45.

Change

Previous filing in this sequence was filed on 02 Mar 2023.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PACW transaction

Common Stock

Disposed to Issuer

Transaction value: $0
Shares: -89,397
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 30 Nov 2023
Ownership: Direct
Footnotes: F1, F2, F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Bryan M. Corsini is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 4 footnotes

Footnote F1

Includes restricted stock awards of 27,846 shares of Issuer's common stock (the "Issuer RSAs").

Footnote F2

Disposed of pursuant to the Agreement and Plan of Merger, dated July 25, 2023, by and among Issuer, Banc of California, Inc. ("BANC"), and Cal Merger Sub, Inc. (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, at the effective time (the "Effective Time") of the merger between Issuer and Cal Merger Sub, Inc. (the "Merger"), each share of Issuer common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive 0.6569 shares of BANC common stock (the "Merger Consideration"). All fractional shares were paid in cash. The Merger closed on November 30, 2023.

Footnote F3

Pursuant to the Merger Agreement, at the Effective Time, the Issuer RSAs were assumed by BANC and converted into the right to receive (without interest) the Merger Consideration in respect of each share of Issuer common stock subject to such Issuer RSAs immediately prior to the Effective Time with the same terms and conditions as were applicable under such Issuer RSAs immediately prior to the Effective Time (including vesting terms), with any fractional shares rounded to the nearest whole share of BANC common stock.

Footnote F4

As a result of the Merger, Reporting Person no longer beneficially owns, directly or indirectly, any shares of Issuer common stock.