California BanCorp (BCAL) president uses stock to cover taxes
Rhea-AI Filing Summary
California BanCorp (BCAL) President Richard Hernandez reported a tax-withholding disposition on August 2, 2026. The company withheld 1,407 common shares at $21.30 per share to satisfy his tax liability from a vesting equity award. After this, he holds 71,528 shares directly and 20,834 shares indirectly via an IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,407 shares
Net Sell
2 txns
Insider
Hernandez Richard
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock F1 | 1,407 | $21.30 | $30K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 71,528.2 shares (Direct);
Common Stock — 20,834 shares (Indirect, By IRA)
Footnotes (1)
- F1. Shares disposed to satisfy the Reporting Person's tax liability by the vesting of a previously granted award.
Key Figures
Shares withheld for taxes: 1,407 shares
Tax-withholding share price: $21.30 per share
Direct holdings after transaction: 71,528 shares
+1 more
4 metrics
Shares withheld for taxes
1,407 shares
Common shares delivered/withheld on August 2, 2026 to satisfy tax liability from vesting award
Tax-withholding share price
$21.30 per share
Valuation per common share used for the tax-withholding disposition
Direct holdings after transaction
71,528 shares
Common shares held directly by Richard Hernandez following the August 2, 2026 tax withholding
Indirect IRA holdings
20,834 shares
Common shares held indirectly via an IRA as reported after the transaction
Key Terms
tax-withholding disposition, Payment of tax liability, By IRA
3 terms
tax-withholding disposition financial
"Reported as a tax-withholding disposition to cover equity award taxes"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Payment of tax liability financial
"Described as Payment of tax liability by delivering or withholding securities"
By IRA financial
"Indirect ownership nature is reported as By IRA"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did California BanCorp (BCAL) report for its president?
California BanCorp (BCAL) reported that President Richard Hernandez had 1,407 common shares withheld on August 2, 2026. These shares were used to pay his tax liability triggered by the vesting of a previously granted equity award, rather than sold in the open market.
Was the California BanCorp (BCAL) insider transaction an open-market sale?
No. The transaction is coded as F and described as a payment of tax liability by delivering or withholding securities. Footnotes clarify the shares were disposed solely to cover taxes from a vesting award, not sold in an open-market transaction.
Was the California BanCorp (BCAL) insider transaction under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not marked, indicating the transaction was not designated as being effected pursuant to a Rule 10b5-1 trading plan. The report instead characterizes it as a tax-withholding disposition tied to equity award vesting.