California BanCorp received an amended ownership report showing that several Wellington entities collectively beneficially own 2,882,833 shares of its common stock, representing about 8.9% of the company as of 12/31/2025.
Wellington reports zero sole voting or dispositive power, with all voting and sale decisions shared. The shares are held in client accounts of Wellington-affiliated investment advisers, whose clients receive dividends and sale proceeds. Wellington certifies the position is held in the ordinary course of business and not for changing or influencing control of California BanCorp.
California BanCorp director David J. Volk reported significant share movements and option holdings. On January 28, 2026, entities Castle Creek Advisors IV LLC and Castle Creek Capital Partners VI LP, with which Volk is associated, sold 2,346,104 shares of California BanCorp common stock at $18.95 per share, leaving 3,729 shares held indirectly. Volk disclaims beneficial ownership of these entity-held shares except for his pecuniary interest.
On February 3, 2026, Volk directly purchased 27,000 California BanCorp common shares at $18.64 per share, bringing his directly held stake to 28,195 shares. He also reports directly held stock options for 7,500 shares at an exercise price of $12.96 expiring on February 20, 2029, and 10,000 shares at $9.67 expiring on March 15, 2027. Unvested restricted stock units assigned to Castle Creek Advisors IV LLC are scheduled to fully vest on May 21, 2026.
California Bancorp received a substantial shareholder disclosure showing that FJ Capital Management LLC, Financial Opportunity Fund LLC, and Martin Friedman together report beneficial ownership of 2,054,534 shares of common stock, or 6.34% of the company as of 01/29/2026.
All three reporting persons indicate shared power to vote and dispose of these shares, with no sole voting or dispositive power. The shares are held by Financial Opportunity Fund LLC, with FJ Capital Management LLC as its managing member. FJ Capital and Mr. Friedman state that they may be deemed beneficial owners but disclaim beneficial ownership and certify the holdings are not for the purpose of changing or influencing control of California Bancorp.
California BanCorp filed a current report describing its latest communications with investors about financial performance. The company issued an earnings press release covering its consolidated results for the fourth quarter and full year of 2025 and made this release available as an exhibit.
The company also prepared an investor slide presentation for upcoming meetings with investors and other interested parties. Both the earnings release and the presentation are furnished as exhibits and are not treated as formally filed financial statements, which means they are provided for information but are not automatically incorporated into other securities law filings.
California BanCorp executive reports tax-related share disposition. EVP and Chief Legal Officer Manisha Merchant reported the disposal of 1,238 shares of California BanCorp common stock on 01/06/2026, coded as an "F" transaction. The filing explains that the shares were disposed of to satisfy her tax liability arising from the vesting of a previously granted equity award. After this transaction, she beneficially owns 26,168 shares of common stock directly.
California BanCorp executive Manisha Merchant reported the disposition of 1,238 shares of common stock on January 6, 2026. The shares were surrendered at a price of $18.79 per share to satisfy the reporting person's tax liability arising from the vesting of a previously granted equity award. After this tax-related transaction, the executive beneficially owned 26,168 shares of California BanCorp common stock in direct ownership. Merchant serves as Executive Vice President and Chief Legal Officer of the company.
California BanCorp reported that Steven E. Shelton retired as Chief Executive Officer and director of both the company and its bank subsidiary effective December 31, 2025, noting that his decision was not due to any disagreement over operations, policies, or practices. Under a Transition and Separation Agreement, he will serve as a strategic transition partner from January 1, 2026 through December 31, 2026 with a base salary of $16,666.66 per month, and will receive a $996,400 lump-sum separation payment on the bank’s first regular payroll date on or after July 1, 2026, along with COBRA severance benefits, potential 2025 discretionary bonus, accelerated vesting of stock awards granted before July 31, 2024, and full vesting plus additional benefits under his SERP.
The company also announced that David I. Rainer, previously Chairman of the Board and Executive Chairman, became Chief Executive Officer of California BanCorp and California Bank of Commerce, N.A. effective January 1, 2026. His compensation remains as previously described in the company’s 2025 proxy statement. The company states there are no special arrangements or family relationships related to his selection and no disclosed related-party transactions involving him. A press release about the leadership changes is included as an exhibit.
California BanCorp reported an insider transaction by an executive serving as EVP / Chief Accounting Officer. On 12/14/2025, the executive disposed of 465 shares of California BanCorp common stock at $19.78 per share. According to the notes, these shares were disposed to satisfy the executive's tax liability resulting from the vesting of a previously granted equity award. Following this transaction, the executive directly beneficially owns 30,769 shares of California BanCorp common stock.
California BanCorp Executive Chairman and Director David Rainer reported changes in his California BanCorp common stock holdings. On 12/09/2025, a trust associated with him reported a gift of 2,000 shares, leaving 320,824 shares held indirectly through the David and Anne Rainer Trust U/A DTD 05/07/1997. On 12/15/2025, 110,523 shares were moved from his direct ownership to the trust, described as a transfer to the reporting person's living trust account, reducing his direct holdings to 56,577 shares and increasing his indirect holdings to 431,347 shares. All transactions were reported at a price of $0.00, indicating gifts and internal transfers rather than market purchases or sales.
California BanCorp executive Thomas G. Dolan, who serves as EVP, Bancorp CFO and CSO, reported an internal transfer of 19,346 shares of common stock dated 12/12/2025. The shares moved from his direct ownership into the Thomas G. Dolan Living Trust dated 8/9/2016 at a stated price of $0.00 per share, as described in the explanation that the shares were transferred to his living trust account. Following the transaction, he reports 30,301 shares held directly and 260,159 shares held indirectly through the trust.