SA THOMAS A - 31 Jul 2024 Form 4 Insider Report for California BanCorp

Footnote F1

Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated January 31, 2024 (the "Merger Agreement"), by and between the Issuer and Southern California Bancorp ("BCAL"). Pursuant to the terms of the Merger Agreement, at the effective time of the merger, each share of Issuer common stock converted into the right to receive 1.590 shares of BCAL common stock (the "Exchange Ratio"), with cash paid in lieu of fractional shares. As a result of the merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Issuer common stock.

Footnote F2

Includes restricted stock units with respect to 10,736 shares of the Issuer's common stock. Pursuant to the Merger Agreement, at the effective time of the merger, the restricted stock units were assumed by BCAL and converted into a restricted stock units with respect to a number of shares of BCAL common stock equal to the number of issuer shares underlying the restricted stock unit multiplied by the Exchange Ratio.

Footnote F3

This total amount corrects an administrative error in the total amount reported in previous filings. No reportable transaction was omitted from previously filings.

Footnote F4

Pursuant to the Merger Agreement, at the effective time of the merger, each of the reporting person's stock options was converted in to the right to receive the amount, if any, by which the exercise price exceeds $22.98 (the value of the per share merger consideration), less required tax withholdings..