4//SEC Filing
Black William J 4
Accession 0001415889-23-015661
CIK 0001102112other
Filed
Nov 29, 7:00 PM ET
Accepted
Nov 30, 9:43 PM ET
Size
10.0 KB
Accession
0001415889-23-015661
Insider Transaction Report
Form 4
PACWEST BANCORPPACW
Black William J
EVP, Strategy & Corp. Dev.
Transactions
- Disposition to Issuer
Common Stock
2023-11-30−116,612→ 0 total - Disposition to Issuer
Common Stock
2023-11-30−13,000→ 0 total(indirect: By IRA) - Disposition to Issuer
Depositary Shares of Series A Preferred Stock
2023-11-30−16,000→ 0 total
Footnotes (6)
- [F1]Includes restricted stock awards of 36,725 shares of Issuer's common stock (the "Issuer RSAs").
- [F2]Disposed of pursuant to the Agreement and Plan of Merger, dated July 25, 2023, by and among Issuer, Banc of California, Inc. ("BANC"), and Cal Merger Sub, Inc. (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, at the effective time (the "Effective Time") of the merger between Issuer and Cal Merger Sub, Inc. (the "Merger"), each share of Issuer common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive 0.6569 shares of BANC common stock (the "Merger Consideration"). All fractional shares were paid in cash. The Merger closed on November 30, 2023.
- [F3]Pursuant to the Merger Agreement, at the Effective Time, the Issuer RSAs were assumed by BANC and converted into the right to receive (without interest) the Merger Consideration in respect of each share of Issuer common stock subject to such Issuer RSAs immediately prior to the Effective Time with the same terms and conditions as were applicable under such Issuer RSAs immediately prior to the Effective Time (including vesting terms), with any fractional shares rounded to the nearest whole share of BANC common stock.
- [F4]As a result of the Merger, Reporting Person no longer beneficially owns, directly or indirectly, any shares of Issuer common stock.
- [F5]In connection with the transactions contemplated by the Merger Agreement, the depository shares and shares of preferred stock underlying the depositary shares will be exchanged for substantially equivalent depositary shares and shares of preferred stock of BANC.
- [F6]Following the transactions contemplated by the Merger Agreement, Reporting Person no longer beneficially owns any Issuer depositary shares.
Documents
Issuer
PACWEST BANCORP
CIK 0001102112
Entity typeother
Related Parties
1- filerCIK 0001815736
Filing Metadata
- Form type
- 4
- Filed
- Nov 29, 7:00 PM ET
- Accepted
- Nov 30, 9:43 PM ET
- Size
- 10.0 KB