California BanCorp (BCAL) director awarded 1,025 RSUs
Rhea-AI Filing Summary
California BanCorp (BCAL) director Stephen A. Cortese reported an acquisition of 1,025 restricted stock units (RSUs) of common stock as consideration for his service on the Board of Directors. According to the company, the RSUs will vest in full on August 20, 2026, at which time shares will be issued.
Following this award, Cortese is reported to have 354,848.18 shares of common stock in direct ownership, with additional indirect holdings through several trusts and a limited partnership. The filing does not indicate any sales or dispositions in this report.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,025 shares
Net Buy
4 txns
Insider
Cortese Stephen A.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 1,025 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 354,848.18 shares (Direct);
Common Stock — 33,069 shares (Indirect, A Cortese & S Cortese TTEE Cortese Trust U/A DTD 8/20/2013);
Common Stock — 2,086 shares (Indirect, Cortese Real Property LP);
Common Stock — 11,576 shares (Indirect, THE LISA A CORTESE TRUST - Stephen Cortese TTEE, Lisa Cortese Grantor)
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 August 20, 2026.
Key Figures
RSUs granted: 1,025 units
Vesting date for RSUs: August 20, 2026
Direct common shares after transaction: 354,848.18 shares
+4 more
7 metrics
RSUs granted
1,025 units
Restricted stock units issued to Stephen A. Cortese for Board service
Vesting date for RSUs
August 20, 2026
Scheduled full vesting date for the 1,025 RSUs
Direct common shares after transaction
354,848.18 shares
Direct ownership reported for Stephen A. Cortese following the RSU grant
Indirect shares – Cortese Trust
33,069 shares
Indirect ownership via A Cortese & S Cortese TTEE Cortese Trust U/A DTD 8/20/2013
Indirect shares – Cortese Real Property LP
2,086 shares
Indirect ownership via Cortese Real Property LP
Indirect shares – Lisa A. Cortese Trust
11,576 shares
Indirect ownership via THE LISA A CORTESE TRUST
RSU grant price per share
$0.00 per share
Reported price for the RSU award transaction
Key Terms
restricted stock units ("RSUs"), vesting, indirect ownership
3 terms
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs") issued to the Reporting Person"
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.
vesting financial
"Shares will be issued in full upon vesting, which is scheduled"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
indirect ownership financial
"Indirect ownership via trusts and a limited partnership is reported"
FAQ
What did BCAL director Stephen A. Cortese report in this Form 4?
He reported a grant of 1,025 restricted stock units (RSUs) of California BanCorp common stock, received as consideration for service on the company’s Board of Directors. These RSUs are a form of stock-based compensation rather than a market purchase.
When do Stephen A. Cortese’s new BCAL RSUs vest?
The filing states that the 1,025 RSUs granted to Stephen A. Cortese will vest in full on August 20, 2026. Shares of California BanCorp common stock will be issued upon that vesting date, according to the disclosure.
What indirect BCAL holdings are reported for Stephen A. Cortese?
The filing lists indirect ownership of California BanCorp common stock including 33,069 shares held by the Cortese Trust dated August 20, 2013, 2,086 shares held by Cortese Real Property LP, and 11,576 shares held by The Lisa A. Cortese Trust.
Was the BCAL Form 4 transaction a market buy or sell?
No market buy or sell is reported. The coded transaction is an acquisition under code A, described as RSUs granted as consideration for Board service, with a reported price of $0.00 per unit, indicating a compensation award rather than an open-market trade.
AI-generated analysis. How Rhea-AI works. Not financial advice.
