SEC Form 4 · accession 0001415889-18-000360
BANC OF CALIFORNIA, INC. · BANC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hugh F Boyle
Officer — CHIEF RISK OFFICER
Period of report
Mar 8, 2018
Accepted (ET)
Mar 12, 2018 · 5:30 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 | 11,272 | $0.00 | A | 98,604 | D | |
| Common Stock | Mar 8, 2018 | A | 7,126 | $0.00 | A | 105,730 | 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 | 16,000 | A | Apr 1, 2017 | May 15, 2025 | Common Stock | 16,000 | 48,000 | D |
| Stock OptionF4 | $13.83 | holding | — | — | — | — | Sep 30, 2023 | Common Stock | 25,000 | 25,000 | 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 March 29, 2017, but are now being issued to the Reporting Person due to the attainment of certain performance objectives. These RSUs will vest in full on April 1, 2018.
- F2Represents issuance of 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.
- F3On 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 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 16,000 shares.
- F4The stock option vests 20% annually, beginning on the one year anniversary of the grant date.