SEC Form 4 · accession 0001179110-19-001777
PACWEST BANCORP · PACW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank Tower
Officer — EVP, Banking
Period of report
Feb 10, 2019
Accepted (ET)
Feb 12, 2019 · 5:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001102112
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 10, 2019 | F | 718 | $39.42 | D | 50,134 | D | |
| Common StockF3,F2 | Feb 10, 2019 | F | 2,857 | $39.42 | D | 47,277 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the number of shares of Issuer's common stock that Reporting Person surrendered to Issuer for the satisfaction of Reporting Person's tax withholding obligations upon the vesting of 2,362 shares of restricted stock on February 10, 2019.
- F2Reflects market closing price on February 8, 2019.
- F3On February 10, 2016, Reporting Person was granted performance restricted stock units ("PRSUs"). Vesting of the PRSUs was conditioned upon the achievement of certain performance goals and an employment condition. On February 6, 2019, actual performance against goals for the applicable performance period was determined and the Reporting Person was awarded 9,493 shares of Issuer's common stock to vest on February 10, 2019 subject to the Reporting Person's satisfaction of the employment condition. The amount reported in column 4 represents the number of shares of Issuer's common stock that Reporting Person surrendered to Issuer for the satisfaction of Reporting Person's tax withholding obligations upon the vesting of the 9,493 shares of Issuer's common stock on February 10, 2019.