Form 4: California BanCorp Executive Chairman David Rainer Reports Share Disposals for Tax Obligations

David Rainer, Executive Chairman of California BanCorp, disposed of 32,918 shares to cover tax liabilities related to a previously granted award.

Summary

• David Rainer, the Executive Chairman of California BanCorp, reported a transaction involving the disposal of 32,918 shares of common stock.
• The shares were disposed of on December 1, 2024, at a price of $17.92 per share.
• This disposal was to satisfy tax liabilities arising from the vesting of a previously granted award.
• Following this transaction, Mr. Rainer directly owns 427,970 shares and indirectly owns 122,001 shares through the DAVID AND ANNE RAINER TRUST U/A DTD 05/07/1997.
• Additionally, a transaction on November 6, 2024, involved the acquisition of 3,000 shares at $0.00, which are held indirectly.

Sentiment

Score: 5

Explanation: The document reports a routine transaction for tax purposes, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine disclosure of share transactions by a company executive, which is common in the financial industry.

Comparison to Industry Standards

• Executive share disposals for tax purposes are a common practice across publicly traded companies.
• The transaction is consistent with standard reporting requirements for insider trading.
• Similar transactions are regularly reported by executives at comparable financial institutions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal for tax purposes.

Key Dates

Keywords

California BanCorp, David Rainer, share disposal, tax liability, executive chairman, stock transaction, beneficial ownership