Form 4: Southern California Bancorp President Richard Hernandez Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Richard Hernandez, President of Southern California Bancorp, disposed of 1,553 shares of common stock on March 4, 2024, to cover tax liabilities related to vesting of a previously granted award.
Summary
- On March 4, 2024, Richard Hernandez, President of Southern California Bancorp, reported a transaction involving the disposal of 1,553 shares of common stock.
- The shares were disposed of to satisfy the reporting person's tax liability resulting from the vesting of a previously granted award.
- The transaction was executed at a price of $15.3 per share.
- Following the transaction, Hernandez directly owns 68,448 shares of common stock and indirectly owns 20,834 shares through an IRA.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations, with no inherent positive or negative implications for the company's performance.
Industry Context
Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock. This filing indicates a routine transaction to cover tax obligations.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 03/04/2024 | Date of transaction: Disposal of 1,553 shares of common stock. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
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