Banc of California, Inc.
US ˙ NYSE ˙ US05990K1060

Introduction

This page provides a comprehensive analysis of the known insider trading history of Steven Sugarman. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

See Highest Ranking Insiders
Companies with Reported Insider Positions

The SEC filings indicate Steven Sugarman has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:PNBK / Patriot National Bancorp, Inc. President, Director 552,927
US:BANC / Banc of California, Inc. FORMER CEO AND BOARD CHAIRMAN, Director 213,567
10% Owner 2,004,083
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Steven Sugarman. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases BANC / Banc of California, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in BANC / Banc of California, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
2016-08-17 BANC Sugarman Steven 38 21.9700 38 21.9700 835 251 22.6000 25 2.97
2016-08-17 BANC Sugarman Steven 300 21.9500 300 21.9500 6,585
2015-08-24 BANC Sugarman Steven 10,000 12.0000 10,000 12.0000 120,000
2015-08-21 BANC Sugarman Steven 5,000 12.2900 5,000 12.2900 61,450
2015-08-21 BANC Sugarman Steven 5,000 12.2800 5,000 12.2800 61,400
2015-08-21 BANC Sugarman Steven 5,000 12.2700 5,000 12.2700 61,350
2015-08-21 BANC Sugarman Steven 10,000 12.2200 10,000 12.2200 122,200
2015-06-17 BANC Sugarman Steven 1,692 13.6200 1,692 13.6200 23,045
2015-06-17 BANC Sugarman Steven 1,308 13.6069 1,308 13.6069 17,798
2014-08-22 BANC Sugarman Steven 650 12.1600 650 12.1600 7,904
2014-08-22 BANC Sugarman Steven 2,700 12.1700 2,700 12.1700 32,859
2014-08-22 BANC Sugarman Steven 700 12.1700 700 12.1700 8,519
2014-05-23 BANC Sugarman Steven 35,000 10.3800 35,000 10.3800 363,300
2013-11-13 BANC Sugarman Steven 2,500 12.5200 2,500 12.5200 31,300
2013-08-27 BANC Sugarman Steven 5,000 13.1800 5,000 13.1800 65,900
2013-06-10 BANC Sugarman Steven 4,000 13.4000 4,000 13.4000 53,600
2013-03-20 BANC Sugarman Steven 2,000 11.3400 2,000 11.3400 22,680
2013-03-06 BANC Sugarman Steven 40 11.1000 40 11.1000 444
2013-03-06 BANC Sugarman Steven 7,860 11.2000 7,860 11.2000 88,032
2013-03-06 BANC Sugarman Steven 282 11.1000 282 11.1000 3,130
2013-03-06 BANC Sugarman Steven 400 11.1000 400 11.1000 4,440
2013-03-06 BANC Sugarman Steven 1,475 11.1000 1,475 11.1000 16,372

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

BANC / Banc of California, Inc. Insider Trades
Insider Sales BANC / Banc of California, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in BANC / Banc of California, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2012-08-22 BANC Sugarman Steven 417,827 12.0000 417,827 12.0000 5,013,924 189 10.26 -727,019 -14.50

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

BANC / Banc of California, Inc. Insider Trades
Insider Purchases PNBK / Patriot National Bancorp, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in BANC / Banc of California, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
2025-03-20 PNBK Sugarman Steven 7,019,978 0.7500 7,019,978 0.7500 5,264,984 54 6.7100 41,839,069 794.67

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

PNBK / Patriot National Bancorp, Inc. Insider Trades
Insider Sales PNBK / Patriot National Bancorp, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in BANC / Banc of California, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

PNBK / Patriot National Bancorp, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Steven Sugarman as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2025-08-14 2025-08-13 4 PNBK PATRIOT NATIONAL BANCORP INC
Common Stock 		A - Award 552,927 552,927
2025-08-14 2025-07-03 4/A PNBK PATRIOT NATIONAL BANCORP INC
Non-Voting Common Stock 		M - Exercise 466,667 2,000,000 30.43
2025-08-14 2025-07-03 4/A PNBK PATRIOT NATIONAL BANCORP INC
Non-Voting Common Stock 		M - Exercise 1,533,333 1,533,333
2025-04-01 2025-03-20 4 PNBK PATRIOT NATIONAL BANCORP INC
Common Stock 		P - Purchase 7,019,978 7,019,978 0.75 5,264,984 5,264,984
2017-01-25 2017-01-23 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		F - Taxes -121,935 213,567 -36.34 16.15 -1,969,250 3,449,107
2016-08-19 2016-08-17 4 BANC BANC OF CALIFORNIA, INC.
Warrant to Purchase Class B Non-Voting Common Stock 		S - Sale -480,000 480,000 -50.00
2016-08-18 2016-08-17 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 300 700 75.00 21.95 6,585 15,365
2016-08-18 2016-08-17 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 38 728 5.51 21.97 835 15,994
2016-05-12 2016-05-10 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		F - Taxes -10,668 335,502 -3.08 19.33 -206,212 6,485,254
2016-04-28 2016-04-26 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		F - Taxes -51,788 346,170 -13.01 19.92 -1,031,617 6,895,706
2016-04-28 2016-04-26 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 25,101 397,958 6.73
2016-04-28 2016-04-26 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 251,005 372,857 205.99
2016-01-29 2015-09-30 5 BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Rights 		A - Award 2,973 2,973
2015-08-24 2015-08-24 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 10,000 75,736 15.21 12.00 120,000 908,832
2015-08-24 2015-08-21 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 10,000 65,736 17.94 12.22 122,200 803,294
2015-08-24 2015-08-21 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 5,000 55,736 9.85 12.27 61,350 683,881
2015-08-24 2015-08-21 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 5,000 50,736 10.93 12.28 61,400 623,038
2015-08-24 2015-08-21 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 5,000 45,736 12.27 12.29 61,450 562,095
2015-06-19 2015-06-17 4 BANC BANC OF CALIFORNIA, INC.
8.00% Non-Cumulative Perpetual Preferred Stock, Series C 		P - Purchase 4,000 4,000 27.13 108,508 108,508
2015-06-19 2015-06-17 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 1,308 40,736 3.32 13.61 17,798 554,291
2015-06-19 2015-06-17 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 1,692 39,428 4.48 13.62 23,045 537,009
2015-04-03 2015-04-01 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		F - Taxes -25,978 44,397 -36.91 12.33 -320,309 547,415
2015-04-03 2014-04-01 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 121,852 166,249 274.46
2015-03-06 2015-03-04 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		F - Taxes -1,029 70,375 -1.44 11.08 -11,401 779,755
2015-02-17 2014-04-01 5 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 26 71,404 0.04 11.90 312 849,843
2015-02-17 2014-01-02 5 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 45 71,404 0.06 13.01 588 928,802
2014-11-12 2014-11-07 4 BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Rights 		A - Award 216,334 216,334
2014-08-25 2014-08-22 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 700 700 12.17 8,519 8,519
2014-08-25 2014-08-22 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 2,700 10,200 36.00 12.17 32,859 124,134
2014-08-25 2014-08-22 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 650 690 1,625.00 12.16 7,904 8,390
2014-05-23 2014-05-23 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 35,000 35,000 10.38 363,300 363,300
2014-05-23 2014-05-21 4 BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Rights 		A - Award 252,023 552,242 83.95
2014-05-23 2014-05-21 4 BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Rights 		A - Award 300,219 300,219
2014-04-07 2013-12-10 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 70,877 70,877
2014-04-07 2013-07-02 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 15,275 15,275
2014-04-07 2013-07-01 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 88,366 88,366
2014-04-07 2013-06-21 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 150,933 150,933
2014-04-03 2014-04-01 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 61,125 75,264 432.33 12.27 750,004 923,484
2014-03-27 2013-12-10 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 70,877 70,877
2014-03-27 2013-07-02 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 15,275 104,091 17.20
2014-03-27 2013-07-01 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 88,366 88,366
2014-03-27 2013-06-21 5/A BANC BANC OF CALIFORNIA, INC.
Stock Appreciation Right 		A - Award 150,933 150,933
2014-03-06 2014-03-04 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		F - Taxes -998 14,139 -6.59 12.73 -12,705 179,984
2014-02-12 2013-10-01 5 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 43 15,137 0.29 13.41 583 202,981
2014-02-12 2013-07-01 5 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 44 15,137 0.29 13.17 578 199,348
2014-02-12 2013-04-01 5 BANC BANC OF CALIFORNIA, INC.
Common Stock 		A - Award 52 15,137 0.34 11.05 571 167,259
2013-11-15 2013-11-13 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 2,500 7,500 50.00 12.52 31,300 93,900
2013-08-28 2013-08-27 4 BANC BANC OF CALIFORNIA, INC.
Common Stock 		P - Purchase 5,000 5,000 13.18 65,900 65,900
2013-06-12 2013-06-10 4/A BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 4,000 4,282 1,418.44 13.40 53,600 57,379
2013-06-11 2013-06-10 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 4,000 4,282 1,418.44 13.40 53,600 57,379
2013-03-20 2013-03-20 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 2,000 2,000 11.34 22,680 22,680
2013-03-06 2013-03-06 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 1,475 1,475 11.10 16,372 16,372
2013-03-06 2013-03-06 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 400 400 11.10 4,440 4,440
2013-03-06 2013-03-06 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 282 282 11.10 3,130 3,130
2013-03-06 2013-03-06 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 7,860 48,778 19.21 11.20 88,032 546,314
2013-03-06 2013-03-06 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		P - Purchase 40 40 11.10 444 444
2013-03-06 2013-03-04 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		A - Award 7,112 40,918 21.04 10.44 74,249 427,184
2012-08-23 2012-08-22 4 BANC FIRST PACTRUST BANCORP INC
Warrant to Purchase Class B Non-Voting Common Stock 		G - Gift 960,000 960,000
2012-08-23 2012-08-22 4 BANC FIRST PACTRUST BANCORP INC
Warrant to Purchase Class B Non-Voting Common Stock 		G - Gift -960,000 0 -100.00
2012-08-23 2012-08-22 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		G - Gift 33,806 33,806
2012-08-23 2012-08-22 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		G - Gift -33,806 0 -100.00
2012-08-23 2012-08-22 4 BANC FIRST PACTRUST BANCORP INC
Common Stock 		S - Sale -417,827 0 -100.00 12.00 -5,013,924
2012-08-23 2012-08-21 4 BANC FIRST PACTRUST BANCORP INC
Stock Appreciation Right 		A - Award 500,000 500,000
2012-01-04 3 NHLD NATIONAL HOLDINGS CORP
Common Stock 		2,004,083
2012-01-04 3 NHLD NATIONAL HOLDINGS CORP
Common Stock 		13,608
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)