Form 4: Southern California Bancorp Executive Peter Nutz Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
EVP/Chief Credit Officer of Southern California Bancorp, Peter Nutz, reports disposing of 276 shares of common stock to cover tax liabilities arising from the vesting of a previously granted award.
Summary
- On April 20, 2024, Peter Nutz, EVP/Chief Credit Officer of Southern California Bancorp, disposed of 276 shares of common stock.
- The transaction was executed to satisfy the reporting person's tax liability related to the vesting of a previously granted award.
- The shares were disposed of at a price of $14.08 per share.
- Following the transaction, Nutz beneficially owns 24,720 shares of Southern California Bancorp common stock.
Sentiment
Score: 6
Explanation: The document is a routine disclosure of a stock transaction. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a common practice of executives selling shares to cover tax obligations related to stock awards.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small number of shares being sold by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/20/2024 | Date of stock disposal transaction |
| 04/23/2024 | Date of signature on the report |
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