SEC Form 4 · accession 0001415889-16-005067

BANC OF CALIFORNIA, INC. · BANC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — EVP, CHIEF BANKING OFFICER

Period of report

Mar 10, 2016

Accepted (ET)

Mar 14, 2016 · 7:31 pm EDT

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
Class B Non-Voting Stock^F1	Mar 10, 2016	X	130,000	$8.90	A	167,355	D
Class B Non-Voting Stock	Mar 10, 2016	S	76,289	$15.16	D	91,066	D
Common Stock	holding	—	—		—	143,782	D

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 Stock^F1,F3	$8.90	Mar 10, 2016	X	130,000	D	—	—	Class B Non-Voting Common Stock	340,000	210,000	D
Stock Option (Right to Purchase)	$15.81	holding	—	—	—	Jun 27, 2012	Jun 27, 2021	Common Stock	16,713	16,713	D
Stock Option^F4	$13.10	holding	—	—	—	—	May 13, 2023	Common Stock	100,000	100,000	D

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 $8.90 on the transaction date.
F2Warrants exercised on a cashless basis, resulting in the Issuer withholding 76,289 of the warrant shares to pay the exercise price and issuing to the Reporting Person the remaining 53,711 shares.
F3Warrants became exercisable as follows:(i) 130,000 shares became exercisable on April 1, 2011; (ii) 130,000 shares became exercisable on July 1, 2011; and (iii) 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.