Form 4: Banc of California Director Andrew Thau Receives Stock Grant

Director Andrew Thau received 5,366 restricted stock units from Banc of California as compensation for board service.

Summary

• On May 9, 2024, Andrew Thau, a director of Banc of California, Inc., was granted 5,366 restricted stock units (RSUs) as compensation for his service on the Issuer's Board of Directors.
• These RSUs will vest on the one-year anniversary of the grant date.
• Following this transaction, Thau beneficially owns 35,560 shares of Banc of California common stock, which includes 39 shares acquired through the Issuer's Dividend Reinvestment Plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard compensation practices and director's investment in the company.

Positives

• The grant of RSUs aligns the director's interests with the company's performance.
• Participation in the Dividend Reinvestment Plan shows confidence in the company's future.

Future Outlook

The RSUs will vest on the one-year anniversary of the grant date, indicating a future issuance of shares.

Industry Context

This is a standard practice for compensating board members in publicly traded companies, aligning their interests with shareholders.

Comparison to Industry Standards

• Granting restricted stock units to board members is a common practice among publicly traded companies, including financial institutions like Bank of America, Citigroup, and Wells Fargo.
• The size of the grant is likely determined by factors such as company size, board responsibilities, and industry benchmarks for director compensation.
• Dividend Reinvestment Plans are also common, allowing shareholders to reinvest dividends to acquire additional shares, similar to programs offered by other major banks.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The director's participation in the Dividend Reinvestment Plan demonstrates confidence in the company's future performance.

Key Dates