Stephen Cortese (BCAL) receives 1,040 RSUs as California BanCorp director pay
Rhea-AI Filing Summary
California BanCorp director Stephen A. Cortese received an equity grant rather than buying shares in the market. He was awarded 1,040 shares of Common Stock in the form of restricted stock units as consideration for serving on the company’s Board of Directors.
The RSUs carry no cash exercise price and will vest in full on May 21, 2026, at which time shares will be issued. Following this grant, Cortese directly holds 350,627.18 shares, with additional indirect holdings through several Cortese-related entities and trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,040 shares
Net Buy
4 txns
Insider
Cortese Stephen A.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,040 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 350,627.18 shares (Direct);
Common Stock — 33,069 shares (Indirect, A Cortese & S Cortese TTEE Cortese Trust U/A DTD 8/20/2013);
Common Stock — 11,576 shares (Indirect, THE LISA A CORTESE TRUST - Stephen Cortese TTEE, Lisa Cortese Grantor);
Common Stock — 2,086 shares (Indirect, Cortese Real Property LP)
Footnotes (1)
- F1. Represents restricted stock units ("RSUs") issued to the Reporting Person as consideration for service on the Issuer's Board of Directors. Shares will be issued in full upon vesting, which is scheduled to occur on May 21, 2026.
Key Figures
RSU grant: 1,040 shares
Grant price: $0.00 per share
Vesting date: May 21, 2026
+4 more
7 metrics
RSU grant
1,040 shares
Restricted stock units awarded for Board service
Grant price
$0.00 per share
Equity compensation, non-cash award
Vesting date
May 21, 2026
RSUs vest in full on this date
Direct holdings after grant
350,627.18 shares
Common Stock directly owned post-transaction
Indirect holdings (Cortese Real Property LP)
2,086 shares
Common Stock held indirectly
Indirect holdings (Lisa A Cortese Trust)
11,576 shares
Common Stock held through trust
Indirect holdings (Cortese Trust U/A DTD 8/20/2013)
33,069 shares
Common Stock held through family trust
Key Terms
restricted stock units ("RSUs"), Board of Directors, indirect, Grant, award, or other acquisition
4 terms
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs") issued to the Reporting Person as consideration for service on the Issuer's Board of Directors."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Board of Directors financial
"issued to the Reporting Person as consideration for service on the Issuer's Board of Directors."
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
indirect financial
"ownership_type: "indirect", ownership_code: "I""
Grant, award, or other acquisition financial
"transaction_code_description: "Grant, award, or other acquisition""
AI-generated analysis. How Rhea-AI works. Not financial advice.
