Form 4: California BanCorp CEO Steven Shelton Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
California BanCorp's CEO, Steven Shelton, disposed of 745 shares of common stock on March 8, 2025, to cover tax liabilities arising from the vesting of a previously granted award.
Summary
- On March 8, 2025, Steven E. Shelton, CEO of California BanCorp, disposed of 745 shares of common stock.
- The transaction was executed to satisfy the reporting person's tax liability related to the vesting of a previously granted award.
- The shares were disposed of at a price of $15.6.
- Following the transaction, Shelton directly owns 134,903 shares of California BanCorp common stock.
- An adjustment was made to correct a previous overstatement, removing 795 shares from the reported holdings.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, ensuring transparency and compliance with securities regulations.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 03/08/2025 | Date of transaction: Steven Shelton disposed of shares to cover tax liability. |
| 03/11/2025 | Date of signature on the Form 4 filing. |
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