Form 4: Banc of California Deputy CFO Raymond J. Rindone Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Raymond J. Rindone, Deputy CFO of Banc of California, disposed of 514 shares of common stock on February 23, 2024, to cover tax liabilities from vesting of a previously granted award.
Summary
- On February 23, 2024, Raymond J. Rindone, the Deputy CFO of Banc of California, disposed of 514 shares of common stock.
- The transaction was executed to satisfy the reporting person's tax liability incurred from the vesting of a previously granted award.
- The shares were disposed of at a price of $14.62 per share.
- Following the transaction, Rindone beneficially owns 16,535 shares of Banc of California common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Date of stock disposal transaction |
| 02/27/2024 | Date of Form 4 signature |
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