Form 4: Banc of California Director Joseph J. Rice Reports Acquisition of Restricted Stock Units

Director Joseph J. Rice acquired 5,883 restricted stock units of Banc of California, Inc. as compensation for his board service.

Summary

• On May 7, 2025, Joseph J. Rice, a director of Banc of California, Inc., acquired 5,883 restricted stock units (RSUs) as consideration for his service on the Issuer's Board of Directors.
• These RSUs will vest and be issued in full on the one-year anniversary of the grant date.
• Following the transaction, Rice directly owns 21,637 shares of common stock, which includes 222 shares acquired through the Issuer's Dividend Reinvestment Plan.
• Rice also indirectly owns 9,500 shares through the Joseph & Monica Rice Revocable Trust and 10,000 shares through the Joseph J. Rice 2012 Irrevocable Trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and insider confidence.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future.

Future Outlook

The restricted stock units will vest one year from the grant date.

Industry Context

This is a standard practice for compensating board members in publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• Granting restricted stock units is a common method to align director interests with shareholder value.
• The amount of RSUs granted is typical for directors of similar-sized financial institutions.

Stakeholder Impact

• The acquisition of RSUs aligns the director's interests with those of the shareholders.

Next Steps

• The restricted stock units will vest on the one-year anniversary of the grant date.

Key Dates

Keywords

Banc of California, Director, Joseph J. Rice, Restricted Stock Units, RSUs, Beneficial Ownership, Form 4, Dividend Reinvestment Plan