Form 4: Banc of California COO John K. Sotoodeh Reports Stock Disposal for Tax Obligations
SEC Form 4
John K. Sotoodeh, COO of Banc of California, disposed of 1,009 shares of common stock on February 23, 2024, to cover tax liabilities from a vesting award.
Summary
- On February 23, 2024, John K. Sotoodeh, the Chief Operating Officer of Banc of California, disposed of 1,009 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 disposed of at a price of $14.62 per share.
- Following the transaction, Sotoodeh directly owns 54,113 shares of Banc of California common stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to tax obligations, which is neutral in sentiment.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when stock options or restricted stock units vest.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Date of stock disposal transaction |
| 02/27/2024 | Date of Form 4 filing |
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