Private Bancorp (PBAM) CEO Richard Sowers Receives 30,000-Share Award

What Happened
Richard L. Sowers, President & CEO and a director of Private Bancorp of America, was granted a derivative award of 30,000 shares (reported as $0.00 per share) on August 4, 2026. The filing identifies this as an award/grant (transaction code A) of stock options rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-08-04; Form 4 filed: 2026-08-06 (timely filing).
• Grant: 30,000 stock options/award; reported price $0.00 (no cash paid at grant).
• Shares owned after transaction: not specified in the provided filing.
• Footnote: The options vest only when the issuer’s 2028 audited financial statements are delivered, and only if the reporting person remains employed and the relevant performance conditions are met (see footnote F1).
• Transaction code: A = Award/Grant; derivative nature clarified by the vesting conditions.

Context
This is a standard equity award to an executive tied to future performance and continued employment; it does not involve an immediate purchase or sale of shares. Such grants can provide future upside if performance triggers are met but do not, by themselves, indicate an immediate change in insider sentiment.