Form 4: Southern California Bancorp CEO David Rainer Reports Stock Transactions
SEC Form 4 Filing
David Rainer, CEO and Chairman of Southern California Bancorp, reports acquisition of restricted stock units and disposition of shares to cover tax liabilities.
Summary
- On March 1, 2024, David Rainer, CEO and Chairman of Southern California Bancorp, acquired 27,889 shares of restricted stock units.
- These units will vest annually over a two-year period starting March 1, 2025.
- On the same date, Rainer disposed of 2,969 shares at $15.17 to cover tax liabilities related to the vesting of a previous award.
- Following these transactions, Rainer directly owns 417,642 shares of common stock and indirectly owns 125,001 shares through the DAVID AND ANNE RAINER TRUST U/A DTD 05/07/1997.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't contain overtly positive or negative information, hence a neutral sentiment score.
Positives
- The grant of restricted stock units to the CEO could be seen as a positive sign, aligning his interests with the long-term performance of the company.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the CEO's holdings.
Key Dates
| Date | Description |
|---|---|
| 05/07/1997 | Date of the DAVID AND ANNE RAINER TRUST U/A |
| 03/01/2024 | Date of stock acquisition and disposition |
| 03/01/2025 | Vesting start date for restricted stock units |
| 03/05/2024 | Date of signature on the Form 4 filing |
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