Form 4: California BanCorp Director David Volk Reports Share Transactions

Director David Volk reports acquisition of restricted stock units and pro-rata distributions of common stock, along with holdings of stock options.

Summary

• David Volk, a director of California BanCorp, filed a Form 4 detailing changes in beneficial ownership.
• On August 8, 2024, Mr. Volk acquired 3,146 restricted stock units (RSUs) indirectly through Castle Creek Advisors IV LLC (Advisors IV).
• These RSUs will fully vest on May 30, 2025.
• Mr. Volk also received 1,195 shares of common stock from Advisors IV as part of a pro-rata, in-kind distribution.
• The report indicates Mr. Volk directly owns 10,000 stock options exercisable at $9.67 and 7,500 stock options exercisable at $12.96.
• Following these transactions, Mr. Volk indirectly beneficially owns 2,346,104 shares of common stock.
• Mr. Volk disclaims beneficial ownership of shares held by Advisors IV and Castle Creek Capital Partners VI LP, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• It assures stakeholders that insider activity is being monitored and reported in compliance with regulations.

Key Dates