Form 4: Banc of California Executive Hamid Hussain Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Hamid Hussain, President of the Bank at Banc of California, disposed of 690 shares of common stock to cover tax liabilities from a vested award.
Summary
- On March 9, 2024, Hamid Hussain, President of the Bank at Banc of California, disposed of 690 shares of common stock at a price of $14.86 per share.
- The transaction was executed to satisfy the reporting person's tax liability incurred by the vesting of a previously granted award.
- Following the transaction, Hussain directly owns 68,734 shares of Banc of California, Inc.
- This amount includes 249 shares acquired through the Issuer's Dividend Reinvestment Plan.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a routine transaction to cover tax obligations. It doesn't indicate any significant positive or negative outlook for the company.
Industry Context
Form 4 filings are standard disclosures required by the SEC when corporate insiders, like officers and directors, trade their company's stock. These filings provide transparency into the transactions of those with access to non-public information.
Key Dates
| Date | Description |
|---|---|
| 03/09/2024 | Date of stock disposal transaction |
| 03/12/2024 | Date of Form 4 filing |
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