SEC Form 4 · accession 0001415889-16-007242
BANC OF CALIFORNIA, INC. · BANC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey T Seabold
Officer — EXECUTIVE VICE PRESIDENT
Period of report
Sep 30, 2016
Accepted (ET)
Oct 4, 2016 · 9:00 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 |
|---|---|---|---|---|---|---|---|---|
| Class B Non-Voting StockF2 | Sep 30, 2016 | X | 80,000 | $8.80 | A | 241,841 | D | |
| Class B Non-Voting Stock | Sep 30, 2016 | S | 39,919 | $17.63 | D | 201,992 | D | |
| Common Stock | holding | — | — | — | 165,409 | 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 StockF2,F4 | $8.80 | Sep 30, 2016 | X | 80,000 | D | — | — | Class B Non-Voting Common Stock | 80,000 | 0 | D |
| Stock Option (Right to Purchase) | $15.81 | holding | — | — | — | Jun 27, 2012 | Jun 27, 2021 | Common Stock | 16,713 | 16,713 | D |
| Stock OptionF5 | $13.10 | holding | — | — | — | — | May 13, 2023 | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1The exercise of the Reporting Person's warrant to purchase shares of the Issuer's Class B Non-Voting Stock reported herein was effected pursuant to a Rule 10b-5 trading plan, adopted by the Reporting Person on August 10, 2016.
- F2The 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 $8.80 per share as of September 30, 2016.
- F3Warrants exercised on a cashless basis, resulting in the Issuer withholding 39,919 of the warrant shares to pay the exercise price, and issuing to the Reporting Person the remaining 40,081 shares.
- F4Warrants became exercisable on October 1, 2011, and was exercisable for a period of five years thereafter.
- F5Options will vest according to the following schedule: 20% increments on each of May 13, 2014, 2015, 2016, 2017 and 2018.