Form 4: Banc of California Chief Risk Officer Sells Shares to Cover Tax Obligations
SEC Form 4
Olivia I Lindsay, Chief Risk Officer of Banc of California, sold shares to cover tax liabilities arising from the vesting of a previously granted award.
Summary
- On February 23, 2024, Olivia I Lindsay, the Chief Risk Officer of Banc of California, Inc., disposed of 853 shares of common stock.
- The transaction was executed to satisfy the reporting person's tax liability incurred by the vesting of a previously granted award.
- The shares were sold at a price of $14.62 per share.
- Following the transaction, Lindsay directly owns 11,761 shares of Banc of California common stock.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction to cover tax obligations and doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. This transaction appears to be a standard sale to cover tax obligations, which is a common occurrence.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Date of transaction: Sale of common stock. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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