Cortese Stephen A. 4

What Happened

• Stephen A. Cortese, a director of California BanCorp (BCAL), received a grant of 1,042 restricted stock units (RSUs) reported as an award on 2026-02-20 (reported value $0 on Form 4 because this is an award). Separately, on 2026-01-16 he acquired 52.18 shares through reinvestment of cash dividends at $18.89 per share for a total of about $986.
• These transactions are acquisitions (not sales), so they represent additions to his holdings rather than disposals.

Key Details

• Transaction dates and prices:
  • 2026-01-16: Reinvestment of cash dividends — 52.18 shares at $18.89 each, total ≈ $986. (Footnote F1)
  • 2026-02-20: Award/Grant of 1,042 RSUs (reported at $0 on Form 4); shares to be issued in full upon vesting. (Footnote F2)
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1 = dividend reinvestment; F2 = RSUs issued as board compensation, to be issued upon vesting on 2/20/2026.
• Timeliness: Form 4 filed 2026-02-23 covering transactions through 2026-02-20; filing shows no late-filing flag in the provided data.

Context

• RSUs are compensation awards that convert into shares upon vesting; the Form 4 reports the grant and the eventual issuance is typically non-cash. Dividend reinvestments are routine and reflect use of dividends to buy additional shares rather than a market-timed purchase.
• These are acquisitions (adds to holdings) by a director, which retail investors often view as ordinary insider accumulation tied to compensation rather than a market-timing trade.