California BanCorp (BCAL) Director Receives 1,214 RSUs; Ownership Updated

Rhea-AI Filing Summary

Kevin J. Cullen, a director of California BanCorp (BCAL), was granted 1,214 restricted stock units (RSUs) as compensation for board service. The RSUs were issued with a transaction date of 08/21/2025 and will vest in full on August 21, 2025, at which time the underlying shares will be delivered. The Form 4 shows a $0.00 price for the grant and reports Cullen's beneficial ownership after the grant as 73,194 shares directly, plus 9,600 shares held indirectly via a 401(k) and 6,426 shares held indirectly via an IRA. The filing was executed on behalf of Cullen by Manisha Merchant under power of attorney and signed on 08/22/2025.

Positive

• Clear disclosure of RSU grant amount (1,214) and vesting date (August 21, 2025)
• Detailed ownership breakdown showing direct (73,194) and indirect (9,600 401(k); 6,426 IRA) holdings
• Grant recorded at $0.00, indicating compensation rather than a cash purchase

Negative

• No material negative events are reported in this filing

Insights

Corporate Governance Expert

TL;DR: A routine director compensation grant of 1,214 RSUs, vesting in one year, increases reported beneficial ownership but appears procedural, not material.

The grant is clearly identified as restricted stock units issued as board compensation with a $0.00 grant price and a vesting date that matches the transaction date plus one year. This aligns director incentives with shareholder interests by creating future equity delivery upon vesting. The filing cleanly discloses direct and indirect ownership balances, and the use of a power of attorney for signature is standard practice. No derivatives, dispositions, or cash purchases are reported, and the size of the grant relative to total reported holdings is modest from the data provided.

Securities Analyst

TL;DR: The Form 4 documents a non-cash equity grant to a director; disclosure is complete for ownership and vesting, indicating routine insider reporting.

The transaction code and explanation identify the shares as RSUs issued for service, with an effective transaction date of 08/21/2025 and vesting on that same calendar date in 2025. The report specifies post-transaction beneficial ownership: 73,194 shares direct and two indirect holdings (9,600 via 401(k) and 6,426 via IRA). The zero-dollar price reflects a service-based issuance rather than a purchase or sale. Based solely on the filing, there are no sales, option exercises, or other actions that would materially alter share count beyond the scheduled vesting.

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^*

Cullen Kevin J.

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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	08/21/2025		A		1,214(1)	A	$0.00	73,194	D
Common Stock								9,600	I	By 401K
Common Stock								6,426	I	By IRA

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. 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 on August 21, 2025.

Remarks:

	Manisha Merchant, by POA for Kevin Cullen	08/22/2025
	** 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 Kevin J. Cullen report on Form 4 for BCAL?

He reported receipt of 1,214 RSUs issued as board service compensation with a transaction date of 08/21/2025 and vesting on August 21, 2025.

How many BCAL shares does Cullen beneficially own after the reported transaction?

The filing shows 73,194 shares directly and indirect holdings of 9,600 (401K) and 6,426 (IRA) after the transaction.

What price was reported for the RSU grant on the Form 4?

The grant is reported with a price of $0.00, indicating the units were issued as compensation.

When was the Form 4 signed and who signed it?

The Form 4 was signed on 08/22/2025 by Manisha Merchant by power of attorney for Kevin Cullen.

Are there any sales or derivative transactions reported for Cullen in this filing?

No; the filing reports only a grant of RSUs and no sales, option exercises, or derivative transactions.