SEC Form 4 · accession 0001415889-16-005454
BANC OF CALIFORNIA, INC. · BANC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey T Seabold
Officer — EVP, CHIEF BANKING OFFICER
Period of report
Apr 1, 2016
Accepted (ET)
Apr 5, 2016 · 6:13 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 | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Apr 1, 2016 | F | 1,727 | $17.50 | D | 142,055 | D | |
| Common StockF2,F3 | Apr 1, 2016 | A | 28,572 | $0.00 | A | 170,627 | D | |
| Class B Non-Voting Stock | holding | — | — | — | 91,066 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Purchase) | $15.81 | holding | — | — | — | Jun 27, 2012 | Jun 27, 2021 | Common Stock | 16,713 | 16,713 | D |
| Warrant to purchase Class B Non-Voting Common StockF4,F5 | $11.00 | holding | — | — | — | — | — | Class B Non-Voting Common Stock | 210,000 | 210,000 | D |
| Stock OptionF6 | $13.10 | holding | — | — | — | — | May 13, 2023 | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1Shares disposed to satisfy the Reporting Person's tax liability incurred by the vesting of a previously granted award.
- F2Represents grant of restricted stock. Shares will vest on the one-year anniversary of the grant date.
- F3Shares issued pursuant to the Issuer's 2013 Omnibus Incentive Plan. The Reporting Person did not provide, and the Issuer did not receive any consideration for the issuance of these shares.
- F4The exercise price of this warrant is 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 has been determined that the exercise price for these warrants was $8.90 per share as of March 31, 2016.
- F5Warrants 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.
- F6Options will vest according to the following schedule: 20% increments on each of May 13, 2014, 2015, 2016, 2017 and 2018.