Private Bancorp of America Grants CEO 30,000-Share Option

What Happened

• Private Bancorp of America, Inc. filed an 8-K on August 10, 2026 disclosing that its wholly‑owned bank subsidiary, CalPrivate Bank, granted CEO Richard L. Sowers an option to purchase 30,000 shares of the Company’s common stock. The Option was granted under the Private Bancorp of America, Inc. 2026 Omnibus Equity Incentive Plan on August 4, 2026, pursuant to an employment agreement dated May 22, 2026.

Key Details

• Option size: 30,000 shares.
• Grant date and filing: Award granted August 4, 2026; 8‑K filed August 10, 2026.
• Exercise price: $85.65 per share (closing price on grant date).
• Term and vesting: Option expires 10 years after grant; becomes exercisable only after the Company’s 2028 audited financial statements are delivered and applicable performance goals are met, and subject to Mr. Sowers’ continued employment through vesting.
• Other terms: Award subject to the Company’s standard forfeiture and clawback provisions; full Award Agreement is filed as Exhibit 10.1.

Why It Matters

• This disclosure shows a performance‑contingent equity incentive for the CEO intended to align his interests with multi‑year company performance (tied to delivery of 2028 audited financials and specified goals). Investors should note the size, timing, and conditions of the award—especially the $85.65 exercise price and the delayed vesting tied to 2028 results—which affect potential future dilution and executive compensation expense when/if the award vests or is exercised.