BCAL (BCAL) CLO gets 12,916 RSUs with tax-share withholdings

Rhea-AI Filing Summary

California BanCorp EVP and Chief Legal Officer Manisha Merchant reported a mix of equity award and related share movements in company stock. On March 2, 2026, she received a grant of 12,916 restricted stock units, which will vest in substantially equal annual installments over a two-year period beginning March 1, 2027. On March 1, 2026, 1,879 shares and 196 shares of common stock were disposed at $18.31 per share to satisfy tax liabilities tied to vesting of a prior award, rather than through open-market selling. Earlier, on January 16, 2026, 42.82 shares were acquired through reinvestment of cash dividends at $18.89 per share. Following these transactions, she directly held 37,051.82 shares of common stock.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Merchant Manisha

Role EVP / Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	12,916	$0.00	--
Tax Withholding	Common Stock	1,879	$18.31	$34K
Tax Withholding	Common Stock	196	$18.31	$4K
Other	Common Stock	42.82	$18.89	$808.87

Holdings After Transaction: Common Stock — 37,051.82 shares (Direct)

Footnotes (1)

1. Reinvestment of cash dividends on January 16, 2026. Shares disposed to satisfy the Reporting Person's tax liability by the vesting of a previously granted award. Represents restricted stock units granted to the Reporting Person on March 2, 2026, which will be issued upon vesting and will vest annually, in substantially equal installments, over a two-year period beginning on March 1, 2027.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Merchant Manisha

(Last) (First) (Middle)

C/O CALIFORNIA BANCORP

355 S. GRAND AVE STE 1200

(Street)

LOS ANGELES CA 90071

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
California BanCorp \ CA [ BCAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP / Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/16/2026		J(1)		42.82	A	$18.89	26,210.82	D
Common Stock	03/01/2026		F(2)		1,879	D	$18.31	24,331.82	D
Common Stock	03/01/2026		F(2)		196	D	$18.31	24,135.82	D
Common Stock	03/02/2026		A(3)		12,916	A	$0.00	37,051.82	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reinvestment of cash dividends on January 16, 2026.

2. Shares disposed to satisfy the Reporting Person's tax liability by the vesting of a previously granted award.

3. Represents restricted stock units granted to the Reporting Person on March 2, 2026, which will be issued upon vesting and will vest annually, in substantially equal installments, over a two-year period beginning on March 1, 2027.

Remarks:

	Manisha Merchant	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did BCAL executive Manisha Merchant report in this Form 4 filing?

Manisha Merchant reported a grant of 12,916 restricted stock units, tax-withholding share dispositions linked to a prior award’s vesting, and a small acquisition from dividend reinvestment, all involving California BanCorp common stock and reflected as directly owned shares after these transactions.

How many California BanCorp (BCAL) restricted stock units were granted to Manisha Merchant?

She received 12,916 restricted stock units on March 2, 2026. According to the disclosure, these units will be issued as common shares upon vesting and are scheduled to vest in substantially equal annual installments over a two-year period beginning March 1, 2027.

Were the BCAL shares disposed by Manisha Merchant open-market sales?

No, the reported share dispositions were for tax withholding. The filing states that 1,879 shares and 196 shares of California BanCorp common stock were delivered at $18.31 per share to satisfy tax liabilities arising from the vesting of a previously granted equity award.

What does the dividend reinvestment transaction mean for BCAL insider ownership?

Dividend reinvestment increased her holdings slightly. On January 16, 2026, 42.82 California BanCorp common shares were acquired through automatic reinvestment of cash dividends at $18.89 per share, adding to her directly owned position without a separate cash purchase decision in the market.

How many California BanCorp shares does Manisha Merchant hold after these transactions?

After the reported grant, tax-withholding dispositions, and dividend reinvestment, she directly owned 37,051.82 shares of California BanCorp common stock, as stated in the filing’s post-transaction ownership figures for the latest reported award dated March 2, 2026.

How will the granted BCAL restricted stock units to Manisha Merchant vest over time?

The restricted stock units vest over two years. The filing explains that the 12,916 units granted on March 2, 2026 will vest annually, in substantially equal installments, over a two-year period beginning on March 1, 2027, and will be issued as common shares upon vesting.