SEC Form 4 · accession 0001209191-17-057778
CU Bancorp · CUNB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Roberto E Barragan
Director
Period of report
Oct 20, 2017
Accepted (ET)
Oct 23, 2017 · 6:04 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001543643
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Oct 20, 2017 | D | 1,000 | — | D | 0 | D | |
| Common StockF1,F2 | Oct 20, 2017 | D | 10,870 | — | D | 0 | I | Silvia D Barragan Def Benefit Pension |
| Common StockF1,F2 | Oct 20, 2017 | D | 3,000 | — | D | 0 | I | Silvia D and Roberto Barragan Living Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On October 20, 2017, pursuant to the Agreement and Plan of Merger, dated as of April 5, 2017, by and between PacWest Bancorp ("PacWest") and CU Bancorp ("CUB"), CUB merged with and into PacWest ("Merger"), and each outstanding CUB common share, other than excluded shares and dissenting shares, was converted into the right to receive (i) $12.00 in cash and (ii) 0.5308 of a share of PacWest common stock, with cash payable in lieu of a fractional share in an amount equal to the fraction of a share of PacWest common stock which the holder would otherwise be entitled to receive multiplied by $48.9248. In connection with the Merger, the reporting person has the right to receive, in exchange for all of the CUB common shares reported in Table I, an aggregate of 7,892 shares of PacWest common stock and $178,440 in cash, with cash payable in lieu of a fractional share of PacWest common stock, subject to any required tax withholding under applicable law. [Continued in FN2]
- F2[Continued from FN1] On October 20, 2017, the effective date of the Merger, the closing price of PacWest common stock was $47.99 per share.