Dinsmore Bradford R 4
4 · PACIFIC MERCANTILE BANCORP · Filed Oct 20, 2021
Insider Transaction Report
Form 4
Dinsmore Bradford R
Chief Executive Officer
Transactions
- Sale
Common Stock
2021-10-18$9.31/sh−141,705$1,319,274→ 0 total - Sale
Restricted Stock Unit
2021-10-18$9.31/sh−75,000$698,250→ 0 total→ Common Stock (75,000 underlying) - Sale
Stock Options (Right to buy)
2021-10-18$9.31/sh−250,000$2,327,500→ 0 totalExercise: $7.33Exp: 2029-09-03→ Common Stock (250,000 underlying)
Footnotes (2)
- [F1]Pursuant to the Merger Agreement by and between Pacific Mercantile Bancorp and Banc of California, Inc. dated March 22, 2021 (the "Agreement"), all vested shares of Pacific Mercantile Bancorp will be converted to Banc of California, Inc. shares at a 2:1 ratio. The vesting of all options, RSAs and RSUs (the "Incentives") were accelerated and cashed out upon the close of the merger that occurred on October 18, 2021. The price per share used to cash out these Incentives was $9.31, and was determined pursuant to the Agreement.
- [F2]Each RSU represents a contingent right to receive one share of the issuer's common stock upon settlement.