CEO Steven Shelton retires; Chairman David Rainer appointed CEO effective Dec 31, 2025

California BanCorp \ CA

Steven Shelton retired as CEO and director of California BanCorp and its bank subsidiary, effective Dec 31, 2025; he will serve as advisory transition partner through Dec 2026.
David Rainer, previously Chairman, appointed CEO of both entities effective Dec 31, 2025; his compensation remains unchanged.
Shelton receives separation payment of $996,400 lump sum after July 1, 2026, plus $16,666.66/month advisory salary, COBRA, and accelerated equity vesting.
The retirement is not due to any disagreement with the company's operations, policies, or practices.

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