SEC Form 4 · accession 0001415889-15-004023
BANC OF CALIFORNIA, INC. · BANC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Jeffrey T Seabold
Officer — EVP, CHIEF BANKING OFFICER
Period of report
Dec 8, 2015
Accepted (ET)
Dec 10, 2015 · 9:19 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001169770
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class B Non-Voting StockF1 | Dec 8, 2015 | X | 95,000 | $9.04 | A | 95,000 | D | |
| Class B Non-Voting Stock | Dec 8, 2015 | S | 59,153 | $14.89 | D | 35,847 | D | |
| Common Stock | holding | — | — | — | 143,781 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant to purchase Class B Non-Voting Common StockF1,F3 | $9.04 | Dec 8, 2015 | X | 95,000 | D | — | — | Class B Non-Voting Common Stock | 435,000 | 340,000 | D |
| Stock Option (Right to Purchase) | $15.81 | holding | — | — | — | Jun 27, 2012 | Jun 27, 2021 | Common Stock | 16,713 | 16,713 | D |
| Stock OptionF4 | $13.10 | holding | — | — | — | — | May 13, 2023 | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1The exercise price of this warrant was subject to certain automatic adjustments in accordance with the terms of the warrant. Based on these automatic adjustments to the original $11.00 exercise price, it was determined that the exercise price for these warrants was $9.04 on the transaction date.
- F2Warrants exercised on a cashless basis, resulting in the Issuer withholding 59,153 of the warrant shares to pay certain related costs, including the exercise price, and issuing to the Reporting Person the remaining 35,847 shares.
- F3Warrants became exercisable as follows: (i) 95,000 shares became exercisable on January 1, 2011; (ii) 130,000 shares became exercisable on April 1, 2011; (iii) 130,000 shares became exercisable on July 1, 2011; and (iv) 80,000 shares became exercisable on October 1, 2011. Shares are exercisable with respect to each vested tranche for five years after the tranche's vesting date.
- F4Options will vest according to the following schedule: 20% increments on each of May 13, 2014, 2015, 2016, 2017 and 2018.