Form 4: California BanCorp CEO Steven E. Shelton Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Steven E. Shelton, CEO of California BanCorp, disposed of 163 shares of common stock on September 20, 2024, to cover tax liabilities related to a previously vested award.
Summary
- On September 20, 2024, Steven E. Shelton, the CEO of California BanCorp, disposed of 163 shares of common stock.
- The transaction was executed to satisfy the reporting person's tax liability arising from the vesting of a previously granted award.
- The shares were sold at a price of $14.78 per share.
- Following the transaction, Shelton directly owns 136,674 shares of California BanCorp common stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (stock disposal for tax purposes) and does not contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction appears to be a standard tax-related stock disposal, which is common among executives who receive stock-based compensation.
Stakeholder Impact
- The disposal of 163 shares is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 09/20/2024 | Date of stock disposal transaction |
| 09/23/2024 | Date of signature on the Form 4 filing |
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