Form 4: California BanCorp EVP Manisha Merchant Reports Stock Transactions
SEC Form 4
Manisha Merchant, EVP and Chief Legal Officer of California BanCorp, reports the disposition and acquisition of company stock.
Summary
- Manisha Merchant, EVP and Chief Legal Officer of California BanCorp, filed a Form 4 detailing changes in beneficial ownership.
- On March 1, 2025, 1,898 shares of common stock were disposed of at a price of $15.99 to satisfy tax liabilities related to the vesting of a previously granted award.
- On March 3, 2025, 1,089 restricted stock units were granted, which will vest annually over a two-year period starting March 1, 2026.
- Following these transactions, Merchant beneficially owns 28,342 shares of California BanCorp common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Future Outlook
The restricted stock units will vest annually, in substantially equal installments, over a two-year period beginning on March 1, 2026.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders.
Key Dates
| Date | Description |
|---|---|
| 03/01/2025 | Disposition of 1,898 shares to cover tax liability. |
| 03/03/2025 | Grant of 1,089 restricted stock units. |
| 03/01/2026 | Start date for annual vesting of restricted stock units over two years. |
| 03/04/2025 | Date of signature on the Form 4. |
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