MATTHEW P. WAGNER - 28 Feb 2023 Form 4 Insider Report for PACWEST BANCORP (PACW)

Role
EXECUTIVE CHAIRMAN, Director
Signature
/s/ Angela M.W. Kelley, Attorney-in-Fact
Issuer symbol
PACW
Transactions as of
28 Feb 2023
Net transactions value
-$347,236
Form type
4
Filing time
02 Mar 2023, 15:32:10 UTC
Previous filing
10 Feb 2023
Next filing
13 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PACW Common Stock Tax liability $244,810 -8,822 -0.97% $27.75 904,997 28 Feb 2023 Direct F1, F2
transaction PACW Common Stock Tax liability $102,425 -3,691 -0.41% $27.75 901,306 28 Feb 2023 Direct F2, F3
holding PACW Common Stock 52,925 28 Feb 2023 By IRA
holding PACW Common Stock 17,003 28 Feb 2023 By Spouse F4
holding PACW Depositary Shares of Series A Preferred Stock 20,000 28 Feb 2023 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of shares of Issuer's common stock that Reporting Person surrendered to Issuer for the satisfaction of Reporting Person's tax withholding obligations upon the vesting of 20,173 shares of restricted stock on February 28, 2023.
F2 Reflects market closing price on February 28, 2023.
F3 On February 12, 2020, Reporting Person was granted performance restricted stock units ("PRSUs"). Vesting of the PRSUs was conditioned upon the achievement of certain performance goals and an employment condition. On February 8, 2023, actual performance against goals for the applicable performance period was determined and the Reporting Person was awarded 8,426 shares of Issuer's common stock to vest on February 28, 2023 subject to the Reporting Person's satisfaction of the employment condition. The amount reported in column 4 represents the number of shares of Issuer's common stock that Reporting Person surrendered to Issuer for the satisfaction of Reporting Person's tax withholding obligations upon the vesting of the 8,426 shares of Issuer's common stock on February 28, 2023.
F4 The Reporting Person disclaims beneficial ownership of the shares held by his spouse, and this report should not be deemed an admission that the Reporting Person is the beneficial owner of his spouse's shares for purposes of Section 16 or for any other purpose.