Form 4: Southern California Bancorp CEO David Rainer Reports Tax Liability Share Disposal
SEC Form 4 Filing
David Rainer, CEO and Chairman of Southern California Bancorp, reports the disposal of shares to cover tax liabilities arising from the vesting of a previously granted award.
Summary
- On March 29, 2024, David I. Rainer, CEO and Chairman of Southern California Bancorp, disposed of 5,774 shares of common stock to cover tax liabilities.
- The shares were disposed of at a price of $14.91 per share.
- Following the transaction, Rainer directly owns 411,868 shares of Southern California Bancorp common stock.
- Rainer also indirectly owns 125,001 shares through the DAVID AND ANNE RAINER TRUST U/A DTD 05/07/1997.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard transaction to cover tax obligations.
Stakeholder Impact
- The disposal of shares by a company executive could have a minor impact on shareholder sentiment, but this type of transaction is generally expected and understood.
Key Dates
| Date | Description |
|---|---|
| 05/07/1997 | Date of the DAVID AND ANNE RAINER TRUST U/A |
| 03/29/2024 | Date of the share disposal transaction |
| 04/01/2024 | Date of signature for the report |
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