SEC Form 4 · accession 0001415889-17-000608
BANC OF CALIFORNIA, INC. · BANC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hugh F Boyle
Officer — INTERIM CEO, CHF. RISK OFFICER
Period of report
Apr 3, 2017
Accepted (ET)
Apr 5, 2017 · 8:51 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 3, 2017 | F | 3,303 | $20.70 | D | 90,564 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF2 | $13.29 | Apr 3, 2017 | A | 16,000 | A | Apr 1, 2017 | May 15, 2025 | Common Stock | 16,000 | 32,000 | D |
| Stock OptionF3 | $13.83 | holding | — | — | — | — | Sep 30, 2023 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1Shares disposed to satisfy the Reporting Person's tax liability incurred by the vesting of previously granted awards.
- F2On May 15, 2015, the Reporting Person was granted an option to purchase 80,000 shares of common stock. The option vests in five substantially equal annual installments, based on satisfaction of certain performance-based criteria for each of the fiscal years ending December 31, 2015, 2016, 2017, 2018, and 2019. The performance criteria for 2016 were met, resulting in vesting of the option as to 16,000 shares.
- F3The stock option vests 20% annually, beginning on the one year anniversary of the grant date.