Form 4: California BanCorp COO Disposes of Shares for Tax Obligations

Michelle Wirfel, EVP and Chief Operating Officer of California BanCorp, reported the disposal of 93 shares of common stock to satisfy tax liabilities from a vested award.

Summary

• Michelle Wirfel, EVP and Chief Operating Officer of California BanCorp (BCAL), filed a Form 4 with the SEC.
• The filing details the disposal of 93 shares of California BanCorp Common Stock on June 21, 2025.
• The shares were disposed of at a price of $14.53 per share.
• The stated purpose of the disposal was to satisfy the reporting person's tax liability arising from the vesting of a previously granted equity award.
• Following this transaction, Michelle Wirfel beneficially owns 78,282 shares of California BanCorp Common Stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale to cover tax obligations from a vested equity award, which is a neutral event in terms of company performance or executive sentiment towards the stock.

Positives

• The transaction represents the vesting of a previously granted equity award, which is a positive for the executive as it signifies compensation realization.

Negatives

• The disposal of shares, even for tax purposes, results in a slight reduction of the executive's direct ownership stake in the company.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Minimal impact on shareholders as this is a small, routine transaction by an executive to cover tax liabilities from vested equity, not indicative of a change in investment sentiment or company fundamentals.

Key Dates

Keywords

California BanCorp, BCAL, Form 4, Insider Transaction, Stock Disposal, Executive Compensation, Tax Liability, Michelle Wirfel, Beneficial Ownership