SEC Form 3 · accession 0001193125-26-324038
Private Bancorp of America, Inc. · PBAM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard L. Sowers
Officer — President and CEO · Director
Period of report
Jul 29, 2026
Accepted (ET)
Jul 29, 2026 · 4:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001705284
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 23,841 | D | ||
| Common StockF1 | holding | — | — | — | 52,519 | I | By Family Trust | |
| Common Stock | holding | — | — | — | 8,150 | I | By IRA Account |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2 | $25.59 | holding | — | — | — | — | Feb 15, 2028 | Common Stock | 3,279 | — | D |
| Stock Option (right to buy)F2 | $21.00 | holding | — | — | — | — | Feb 1, 2030 | Common Stock | 10,000 | — | D |
| Stock Option (right to buy)F2 | $25.15 | holding | — | — | — | — | May 11, 2033 | Common Stock | 30,000 | — | D |
| Restricted Stock UnitsF3 | — | holding | — | — | — | — | — | Common Stock | 11,516 | — | D |
| Restricted Stock UnitsF4 | — | holding | — | — | — | — | — | Common Stock | 7,000 | — | D |
| Restricted Stock UnitsF5 | — | holding | — | — | — | — | — | Common Stock | 6,500 | — | D |
Explanation of responses
- F1These shares are held in a trust for the benefit of family members for which Mr. Sowers serves as co-trustee with his spouse, Mari Brusseau, and for which Mr. Sowers may be deemed to have voting and investment power.
- F2The stock options are fully vested and exercisable.
- F3Each Restricted Stock Unit represents the right to receive one share of common stock. The amount reported reflects the maximum number of Restricted Stock Units that may vest, if at all, on December 31, 2026, upon confirmation of the achievement of the relevant performance targets (for the portion of the award still subject to performance vesting) and the reporting person's continued employment with the Issuer on the vesting date, subject to forfeiture upon the occurrence of certain events specified in award agreement.
- F4Each Restricted Stock Unit represents the right to receive one share of common stock. The amount reported reflects the maximum number of Restricted Stock Units that may vest, if at all, on December 31, 2027, upon confirmation of the achievement of the relevant performance targets (for the portion of the award still subject to performance vesting) and the reporting person's continued employment with the Issuer on the vesting date, subject to forfeiture upon the occurrence of certain events specified in award agreement.
- F5Each Restricted Stock Unit represents the right to receive one share of common stock. The amount reported reflects the targeted number of Restricted Stock Units that may vest, if at all, on December 31, 2028, upon confirmation of the achievement of the relevant performance targets (for the portion of the award still subject to performance vesting) and the reporting person's continued employment with the Issuer on the vesting date, subject to forfeiture upon the occurrence of certain events specified in the award agreement. Depending on actual performance achieved, the reporting person may receive between 0% and 125% of the targeted amount.
Remarks
Exhibit 24 - Power of Attorney