Form 4: Southern California Bancorp Director Exercises Stock Options and Reports Beneficial Ownership
SEC Form 4
Director Lester Machado exercised stock options and reported changes in beneficial ownership of Southern California Bancorp stock.
Summary
- On March 7, 2024, Lester Machado, a director of Southern California Bancorp, exercised stock options for 8,000 shares of common stock at a price of $9.67 per share.
- This transaction resulted in a change in Mr. Machado's directly held securities, increasing his holdings to 12,291 shares.
- Mr. Machado also indirectly owns 44,570 shares through the Machado-Pedersen Family Trust and 10,000 shares through the Lester Machado MD PC DTD 12/07/06 Defined Benefit Plan.
- Additionally, Mr. Machado holds options for 7,500 shares at an exercise price of $12.96, which are fully vested and expire on February 20, 2029.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, reflecting neutral sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and provides transparency to the market regarding the holdings of company directors.
Stakeholder Impact
- The disclosure provides shareholders with information about director's stake in the company.
Key Dates
| Date | Description |
|---|---|
| 03/13/2014 | Date of Machado-Pedersen Family Trust UA |
| 12/07/2006 | Date of Lester Machado MD PC DTD Defined Benefit Plan |
| 03/15/2022 | Exercisable date of stock options |
| 03/07/2024 | Director exercised stock options |
| 02/20/2024 | Grant date of stock options |
| 03/11/2024 | Signature date of the report |
| 03/15/2027 | Expiration date of stock options |
| 02/20/2029 | Expiration date of stock options |
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