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

Richard Lashley, a director of Banc of California, reported the sale of common stock through related entities, as well as holdings in preferred stock and an IRA.

Summary

• Richard Lashley, a director of Banc of California, filed a Form 4 detailing changes in beneficial ownership.
• On September 4, 2024, shares of common stock were sold at a weighted average price of $14.004, with sales of 18,750 shares and 56,250 shares.
• On September 5, 2024, additional shares of common stock were sold at a weighted average price of $14.197, with sales of 50,887 shares and 74,113 shares.
• These sales were made to satisfy limited partner fund withdrawals.
• Lashley also reported indirect ownership of common stock, depositary shares of Series F preferred stock, and holdings in a Richard Lashley ROTH IRA.
• The shares are held indirectly through Goodbody/PL Capital, LLC and PL Capital, LLC, where Lashley holds a 50% equity interest and is one of two Managing Members.
• Lashley disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock sales by a company director; it doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to the market regarding their trading activities.

Stakeholder Impact

• The stock sales by a director may be of interest to shareholders, potentially influencing their perception of the company's prospects.

Key Dates