Rice Joseph J 4

What Happened

• Joseph J. Rice, Senior Executive Vice President, Vice Chairman and Director of Banc of California (BANC), was granted two equity awards on July 8, 2026: 18,114 restricted stock units (RSUs) and 50,000 performance-based RSUs. Both awards are recorded at $0.00 per share (award/grant), meaning no cash purchase was made at grant.
• The 18,114 RSUs will issue common shares upon vesting; the 50,000 RSUs are derivative/performance awards that convert to shares only if stated performance and service conditions are met.

Key Details

• Transaction date: 2026-07-08; Form 4 filed 2026-07-10 (appears timely within the usual 2-business-day reporting window).
• Prices/values: Both grants reported at $0.00 per share (standard for restricted stock unit awards); aggregate cash consideration reported = $0.
• Shares reported: 18,114 RSUs (time-based); 50,000 performance-based RSUs (derivative).
• Shares owned after transaction: Not specified in the information provided in your summary.
• Footnotes of note:
  • F1: The 18,114 RSUs vest annually in substantially equal installments over three years, beginning July 31, 2027.
  • F2: The 50,000 performance RSUs vest only if (a) Banc of California’s common stock reaches a 20-day VWAP of $28.73 by no later than May 23, 2028, and (b) Mr. Rice remains in service through May 23, 2028.

Context

• These are equity awards (not open-market purchases or sales). Time-based RSUs are typical long-term compensation; performance RSUs carry an additional stock-price and service condition before shares are issued.
• Awards do not necessarily indicate immediate buying or selling intent by the insider; they reflect compensation and incentives tied to retention and performance.