Pacific Mercantile Bancorp (PMBC) Form 4 PACIFIC MERCANTILE BANCORP / Robert S. Anderson ownership change

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

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Anderson Robert S.

(Last) (First) (Middle)

949 SOUTH COAST DRIVE

THIRD FLOOR

(Street)

COSTA MESA CA 92626

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PACIFIC MERCANTILE BANCORP [ PMBC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP & Chief Credit Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/18/2021

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	10/18/2021		S(1)		126,438	D	$9.31(1)	0.00	D
Common Stock	10/18/2021		S(1)		3,100	D	$9.31(1)	0.00	I	Spouse

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
Common Stock Option	$8.15	10/18/2021		S(1)			11,513	(1)	02/21/2028	Common Stock	11,513	$9.31	0.00	D
Common Stock Option	$7.1	10/18/2021		S(1)			7,933	(1)	02/17/2025	Common Stock	7,933	$9.31	0.00	D
Common Stock Option	$6.77	10/18/2021		S(1)			20,588	(1)	02/16/2026	Common Stock	20,588	$9.31	0.00	D
Common Stock Option	$6.24	10/18/2021		S(1)			12,500	(1)	09/03/2023	Common Stock	12,500	$9.31	0.00	D

Explanation of Responses:

1. Pursuant to the Merger Agreement by and between Pacific Mercantile Bancorp and Banc of California, Inc. dated March 22, 2021 (the "Agreement"), all vested shares of Pacific Mercantile Bancorp will be converted to Banc of California, Inc. shares at a 2:1 ratio. The vesting of all options, RSAs and RSUs (the "Incentives") were accelerated and cashed out upon the close of the merger that occurred on October 18, 2021. The price per share used to cash out these Incentives was $9.31, and was determined pursuant to the Agreement.

Remarks:

	/s/ Curt A. Christianssen, as attorney in fact for Robert Anderson	10/19/2021
	** 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).
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