Cullen Kevin J. 4

What Happened Kevin J. Cullen, a director of California BanCorp (BCAL), was granted 3,196 restricted stock units (RSUs) on June 1, 2026. The Form 4 reports an acquisition at $0.00 per share (total reported value $0) under transaction code A — this was an award of RSUs issued as consideration for board service, not an open-market purchase or sale.

Key Details

• Transaction date: June 1, 2026; Grant of 3,196 RSUs at $0.00 per share (transaction code A).
• Vesting: Footnote F1 states shares will be issued in full upon vesting on June 1, 2027.
• Shares owned after transaction: Not specified in the provided filing.
• Filing timeliness: Report covers period 2026-06-01 and was filed 2026-06-03 — appears to be a timely Form 4 filing.
• Footnote: F1 confirms RSUs were issued as board-service compensation and will convert to shares upon vesting.

Context RSUs are equity awards that convert into actual shares when they vest; they are common as director or employee compensation. A reported $0.00 acquisition price for RSUs is typical on Form 4s and reflects that the award, not a cash purchase, was granted. Such awards do not by themselves indicate a buy/sell signal in the market; their value and accounting treatment are usually disclosed in the issuer’s compensation filings.