Form 4: Banc of California Director Richard Lashley Reports Significant Stock Sales

Banc of California Director Richard J. Lashley filed a Form 4 disclosing the sale of over 75,000 shares of common stock in early June 2025.

Summary

• Richard J. Lashley, a Director of Banc of California, Inc. (BANC), reported multiple sales of common stock in June 2025.
• On June 6, 2025, 157 shares of common stock were sold at a price of $14.00 per share.
• On June 9, 2025, 37,343 shares were sold at a weighted average price of $14.025 per share, with prices ranging from $14.00 to $14.11.
• On June 10, 2025, 37,500 shares were sold at a weighted average price of $14.20 per share, with prices ranging from $14.15 to $14.255.
• All reported sales were indirect, held through PL Capital, LLC.
• Following these transactions, Mr. Lashley's indirect beneficial ownership through PL Capital, LLC decreased to 2,280,280 shares of common stock.
• Additionally, Mr. Lashley indirectly holds 668,939 shares of common stock and 10,000 Depositary Shares of Series F Preferred Stock through Goodbody/PL Capital, LLC.
• He also directly holds 65,533 shares of common stock and indirectly holds 10,000 shares of common stock via his ROTH IRA.

Sentiment

Score: 4

Explanation: The sentiment is moderately negative due to significant insider selling by a director, which can be perceived as a bearish signal by investors, despite the transparency of the filing itself.

Positives

• The filing demonstrates compliance with SEC regulations for insider trading disclosures, providing transparency regarding director stock transactions.

Negatives

• A director selling a significant number of shares (totaling 75,000 shares across three days) can be perceived negatively by the market, potentially signaling a lack of confidence or a move to diversify holdings.

Future Outlook

This Form 4 filing does not provide any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The document includes a signature by Ido Dotan, Attorney-in-Fact for Richard J. Lashley, confirming the accuracy of the reported transactions.

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions and does not provide broader industry context or trends.

Related Party Transactions

• Richard J. Lashley's indirect beneficial ownership is primarily through PL Capital, LLC and Goodbody/PL Capital, LLC. He holds a 50% equity interest and is one of two Managing Members of both entities. He reports all shares held by the limited partnerships due to the impracticality of determining his proportionate interest, disclaiming beneficial ownership except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders may view the director's stock sales as a negative signal, potentially impacting investor confidence and the company's stock price.

Key Dates

Keywords

Banc of California, BANC, Form 4, insider trading, stock sale, beneficial ownership, director, Richard J. Lashley, PL Capital