Jared M. Wolff - Feb 27, 2023 Form 4 Insider Report for BANC OF CALIFORNIA, INC. (BANC)

Signature
/s/ Ido Dotan, Attorney-in-Fact for Jared M Wolff
Stock symbol
BANC
Transactions as of
Feb 27, 2023
Transactions value $
$0
Form type
4
Date filed
3/1/2023, 03:13 PM
Previous filing
Feb 27, 2023
Next filing
Mar 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BANC Common Stock Award $0 +23.2K +10.17% $0.00 252K Feb 27, 2023 Direct F1
holding BANC Common Stock 50.1K Feb 27, 2023 By the Wolff Family Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding BANC Performance Stock Units 279K Feb 27, 2023 Common Stock 279K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 2, 2020, the Reporting Person was granted performance stock units ("PSUs"). Vesting of the PSUs was conditioned on the achievement of certain performance goals and an employment condition. Effective February 27, 2023, the Joint Compensation, Nominating and Corporate Governance Committee of the Issuer's Board of Directors determined that the performance goals had been satisfied resulting in the reported PSUs being subject only to the employment condition. The reported PSUs will vest at the expiration of a three-year period beginning on March 2, 2020 subject to the Reporting Person's satisfaction of the employment condition.
F2 Represents grant of performance-based restricted stock units. Shares will be issued upon achievement of both (a) Issuer's common stock achieving a twenty-day Volume-Weighted Average Price of $35 per share within four years from the date of grant and (b) the Reporting Persons' continued service through the fourth anniversary of the grant.