Form 4: California BanCorp COO Disposes Shares for Tax
Insider Transaction Report
California BanCorp's EVP and COO, Michelle Wirfel, disposed of 93 shares of common stock to cover tax liabilities from a vested award.
Summary
- Michelle Wirfel, Executive Vice President and Chief Operating Officer of California BanCorp, reported a transaction on December 21, 2025.
- The transaction involved the disposal of 93 shares of California BanCorp common stock.
- The shares were disposed of to satisfy the reporting person's tax liability arising from the vesting of a previously granted award.
- The disposal price per share was $19.5.
- Following this transaction, Michelle Wirfel beneficially owns 76,692 shares of common stock directly.
Sentiment
Score: 5
Explanation: The filing reports a routine, small-scale insider transaction for tax purposes, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or prospects.
Future Outlook
This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.
Management Comments
- The transaction was signed by Manisha Merchant, by Power of Attorney for Michele Wirfel.
Industry Context
This is a routine insider transaction, common across all industries, where executives dispose of a portion of their vested equity awards to cover tax obligations. It does not reflect a change in strategic direction or operational performance of California BanCorp.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Establishment | Michelle Wirfel has granted a Power of Attorney to Jean Carandang, Tom Dolan, and Manisha K. Merchant to execute and file Section 16 statements and reports on her behalf. This ensures compliance with SEC filing requirements for insider transactions. | Enhances efficiency and ensures timely compliance with SEC reporting obligations for insider transactions by the EVP, Chief Operating Officer. |
Stakeholder Impact
- Shareholders: Minimal impact due to the small number of shares involved in a routine tax-related disposal. This transaction does not signal a change in management's confidence or the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 12/21/2025 | Date of transaction where 93 shares were disposed of to satisfy tax liability. |
| 12/22/2025 | Date the Form 4 was signed by Manisha Merchant, by Power of Attorney for Michele Wirfel. |
Keywords
California BanCorp, BCAL, Insider Transaction, Form 4, Stock Disposal, Tax Liability, Equity Compensation, Michelle Wirfel
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