SEC Form 4 · accession 0001415889-18-000358
BANC OF CALIFORNIA, INC. · BANC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John C. Grosvenor
Officer — EVP AND GENERAL COUNSEL
Period of report
Mar 8, 2018
Accepted (ET)
Mar 12, 2018 · 5:29 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 | Mar 8, 2018 | A | 5,938 | $0.00 | A | 66,836 | 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 | $13.29 | Mar 8, 2018 | A | 12,000 | A | Apr 1, 2017 | May 15, 2025 | Common Stock | 12,000 | 12,000 | D |
Explanation of responses
- F1Represents issuance of restricted stock units (RSUs) which convert into common stock on a one-for-one basis. These RSUs were initially granted on April 14, 2017, but are now being issued to the Reporting Person due to satisfaction of a performance gate criterion. The RSUs are scheduled to vest annually, in substantially equal installments, over a four-year period beginning on April 14, 2018.
- F2On May 15, 2015, the Reporting Person was granted an option to purchase 60,000 shares of common stock. The option vests in five substantially equal installments, based on the 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 2017 were met, resulting in vesting of the option as to 12,000 shares.