secwatch.observer — SEC 8-K summary
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Issuer:     BANC OF CALIFORNIA, INC. (BANC)
CIK:        0001169770
Form:       8-K
Filed at:   2022-02-08T23:59:59+00:00
Accession:  0001169770-22-000006
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banc of California enters amended CEO employment with Wolff; base salary raised to $875K
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- Term runs March 1, 2022 to February 28, 2025, subject to annual extensions unless notice provided.
- Base salary increased to $875,000 per annum from prior level.
- Annual target bonus set at 100% of base salary; long-term equity target 110% of base.
- Termination without cause pays 100% base salary plus 50% target bonus, 12 months COBRA subsidy.
- Change in control within 2 years triggers 300% of salary plus bonus, full equity vesting, 18 months COBRA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000006/0001169770-22-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169770/000116977022000006/banc-20220207.htm
  HTML page:      https://secwatch.observer/filing/0001169770-22-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer