Form 4: California BanCorp Director Kevin Cullen Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Director Kevin Cullen reports acquisition of 3,146 restricted stock units in California BanCorp as compensation for board service.
Summary
- On August 8, 2024, Kevin J. Cullen, a director of California BanCorp [BCAL], acquired 3,146 shares of Common Stock.
- These shares were in the form of restricted stock units (RSUs) granted as compensation for his service on the Issuer's Board of Directors.
- The RSUs were acquired at a price of $0.00.
- The shares will be issued upon vesting, scheduled for May 30, 2025.
- Following the transaction, Cullen directly owns 68,251 shares of Common Stock.
- Cullen also indirectly owns 9,600 shares through a 401K and 6,426 shares through an IRA.
Sentiment
Score: 6
Explanation: Neutral sentiment as it's a standard regulatory filing related to director compensation.
Positives
- The acquisition of RSUs by a director signals confidence in the company's future.
Future Outlook
The vesting of the RSUs on May 30, 2025, will result in the issuance of shares to Kevin Cullen.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 08/08/2024 | Date of transaction: Kevin Cullen acquired 3,146 restricted stock units. |
| 08/12/2024 | Date of signature on the Form 4 filing. |
| 05/30/2025 | Scheduled vesting date for the restricted stock units. |
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