California BanCorp Director Lester Machado Exercises Options, Sells Shares

What Happened
Lester Machado, a director of California BanCorp (BCAL), exercised 7,500 stock options on 2026-07-31 at an exercise price of $12.96 per share, costing $97,200. He immediately sold the 7,500 shares in an open-market transaction at a weighted average price of $21.19 for gross proceeds of about $158,948. The filing also shows a transfer of 9,142 shares to his living trust (no cash consideration reported). The options were fully vested.

Key Details

• Transaction date: 2026-07-31; Form 4 filed 2026-08-04 (filed within the normal 2-business-day window).
• Option exercise: 7,500 shares acquired at $12.96 each = $97,200.
• Sale: 7,500 shares sold at a weighted average price of $21.19 = $158,948 (price range $21.03–$21.37 per F1).
• Trust transfer: 9,142 shares moved to the reporting person’s living trust (F2); reported at $0.00 (J code).
• Options status: Fully vested (F3).
• Shares owned after the transactions: Not specified in the provided filing details.

Context
Because Machado exercised options and sold the same number of shares the same day, this is effectively a cashless exercise followed by an open-market sale — a routine liquidity event rather than a clear bullish signal. Transfers to a living trust are non-sale transfers for estate/planning purposes and do not necessarily reflect market views. The weighted-average sale price footnote clarifies the sale occurred in multiple trades.