Wirfel Michelle 4

What Happened

• Michelle Wirfel, Chief Operating Officer of California BanCorp (BCAL), had two small equity transactions reported. On Feb 16, 2026 she disposed of 459 shares at $18.87 each (proceeds ≈ $8,661) to satisfy a tax liability tied to the vesting of a previously granted award. On Jan 16, 2026 she acquired 36.93 shares by reinvesting cash dividends at $18.89 per share (cost ≈ $698).

Key Details

• Transaction dates and prices:
  • Jan 16, 2026 — acquired 36.93 shares at $18.89 each (reinvestment of cash dividends; total ≈ $698). (Footnote F1)
  • Feb 16, 2026 — disposed of 459 shares at $18.87 each to satisfy tax liability from vesting (total ≈ $8,661). (Footnote F2)
• Transaction codes: J = other acquisition (dividend reinvestment); F = payment of exercise price or tax liability (shares withheld/sold to cover taxes).
• Shares owned after these transactions: not specified in the information provided in this summary.
• Filing date: Form 4 filed Feb 18, 2026. The Feb 16 sale was reported within two business days; the Jan 16 dividend reinvestment was reported later (appears delayed compared with the usual two‑business‑day Form 4 rule).

Context

• The Feb 16 disposition was to satisfy tax withholding on a vesting award (a common administrative, not necessarily directional, action). The Jan 16 acquisition was a dividend reinvestment, a routine small purchase that generally reflects dividend policy rather than a personal bullish bet.
• These are relatively small-dollar, routine insider transactions rather than large open-market buys or strategic sales; they typically do not by themselves indicate a change in insider sentiment.