Filing Analysis
BayCom Corp announced the declaration of a quarterly cash dividend of $0.15 per share. The dividend is payable on January 10, 2025, to shareholders of record as of December 12, 2024.
📋 Key Facts
- Dividend amount: $0.15 per share
- Record date: December 12, 2024
- Payment date: January 10, 2025
- Filing date: November 20, 2024
BayCom Corp announced the appointment of Bhupen B. Amin and Dennis Guida to its Board of Directors, effective November 1, 2024. This follows the retirement of director James S. Camp.
🚩 Red Flags
- None identified. The filing describes routine board turnover and expansion.
📋 Key Facts
- Bhupen B. Amin appointed as Director effective Nov 1, 2024; committee assignments TBD.
- Dennis Guida appointed as Director and member of Compensation and Corporate Governance/Nominating Committees effective Nov 1, 2024.
- James S. Camp has retired from the Board of Directors.
- The Company's Board size increased from eight to nine members; the Bank's Board decreased from eight to seven.
- New directors will receive compensation as outlined in the proxy statement filed on April 26, 2024.
BayCom Corp filed an 8-K to announce the release of its earnings for the quarter ended September 30, 2024. The filing serves as a formal notice that financial results have been made public via a press release.
📋 Key Facts
- Earnings release issued on October 17, 2024.
- Reporting period is for the quarter ended September 30, 2024.
- Press release included as Exhibit 99.1.
BayCom Corp announced the immediate retirement of James S. Camp from his positions as a director for both the Company and its wholly owned subsidiary, United Business Bank, effective October 7, 2024.
📋 Key Facts
- James S. Camp retired as a director on October 7, 2024.
- The retirement is effective immediately.
- Mr. Camp's departure applies to both BayCom Corp and its subsidiary, United Business Bank.
- The company stated the retirement was for personal reasons and not due to any disagreement with management or the Board.
BayCom Corp announced the declaration of a quarterly cash dividend of $0.10 per share. The dividend is payable on October 10, 2024, to shareholders of record as of September 19, 2024.
📋 Key Facts
- Dividend amount: $0.10 per share
- Record date: September 19, 2024
- Payment date: October 10, 2024
- Announcement date: August 22, 2024
BayCom Corp filed an 8-K to announce the release of its quarterly earnings for the period ended June 30, 2024. The filing serves as a formal notification and incorporates a press release via Exhibit 99.1.
📋 Key Facts
- Earnings release issued on July 18, 2024.
- Reporting period: Quarter ended June 30, 2024.
- The filing includes an earnings press release as Exhibit 99.1.
BayCom Corp reported the results of its 2024 Annual Meeting of Shareholders held on June 18, 2024. The meeting included elections for the Board of Directors and approval of several key proposals, including an omnibus incentive plan.
📋 Key Facts
- The 2024 Annual Meeting was held on June 18, 2024.
- Shareholders approved the election of eight directors: James S. Camp, Harpreet S. Chaudhary, Keary L. Colwell, George J. Guarini, Lloyd W. Kendall, Jr., Janet L. King, Robert G. Laverne, MD, and Syvia L. Magid.
- The BayCom Corp 2024 Omnibus Incentive Plan was approved by shareholders (7,203,357 votes in favor).
- Shareholders ratified the appointment of Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
- The advisory vote on executive compensation frequency resulted in a preference for an annual (one-year) voting cycle.
BayCom Corp announced the declaration of a quarterly cash dividend and the authorization of a new stock repurchase program. The company also noted its intent to enter into Rule 10b5-1 trading plans for future share repurchases.
📋 Key Facts
- Declared a quarterly cash dividend of $0.10 per share.
- Dividend payable on July 11, 2024, to shareholders of record as of June 13, 2024.
- Authorized a new stock repurchase program for up to 560,000 shares (~5% of outstanding shares).
- The new repurchase program will commence after the current program expires on April 21, 2025.
- Only 12,627 shares remain available under the existing repurchase program.
BayCom Corp filed an 8-K to announce the release of its earnings for the fiscal quarter ended March 31, 2024. The filing serves as a formal notification that financial results have been made public via a press release.
📋 Key Facts
- Earnings release issued on April 18, 2024, for the quarter ended March 31, 2024.
- The report was signed by Keary L. Colwell, CFO and Secretary.
Rocco Davis has resigned from the Board of Directors of BayCom Corp, effective March 18, 2024. The company stated the resignation was not due to any disagreement with management or the Board.
📋 Key Facts
- Rocco Davis resigned as a director on March 18, 2024.
- The resignation was not due to disagreements with the Company's Board or management.
- The Board intends to reduce the total number of directors to eliminate the vacancy created by this resignation.
BayCom Corp announced an adjustment to the record date for its previously declared $0.10 per share quarterly cash dividend. The new record date is March 16, 2024, while the payment date remains unchanged as April 12, 2024.
📋 Key Facts
- Dividend amount: $0.10 per share quarterly cash dividend.
- New Record Date: March 16, 2024.
- Payable Date: April 12, 2024 (unchanged).
- Announcement date: March 6, 2024.
BayCom Corp announced the declaration of a cash dividend of $0.10 per share on its common stock.
📋 Key Facts
- Dividend amount: $0.10 per share.
- Record date: March 8, 2024.
- Payment date: April 12, 2024.
BayCom Corp filed an 8-K to announce the release of its earnings for the quarter and fiscal year ended December 31, 2023. The filing serves as a formal notification that financial results have been made public via a press release.
📋 Key Facts
- Earnings release issued on January 25, 2024.
- Covers the quarter and full year ended December 31, 2023.
- Press release included as Exhibit 99.1.
BayCom Corp announced amendments to the employment agreements of its top three executive officers, extending their terms through March 2027 and adjusting compensation structures.
🚩 Red Flags
- Significant severance liabilities triggered by 'change in control' events (3x salary/bonus/stock value).
- Potential for significant dilution via annual restricted stock grants tied to base salary rather than fixed share amounts.
📋 Key Facts
- Effective January 17, 2024, George Guarini (CEO), Janet King (COO), and Keary Colwell (CFO/CAO) had their employment agreements amended and restated.
- Employment terms for all three executives are extended to March 5, 2027, with automatic annual one-year extensions.
- George Guarini's minimum annual base salary is set at $724,131; Janet King and Keary Colwell are set at $417,768 each.
- New provisions include an annual restricted stock grant equal to 25% of the executive's base salary, vesting over five years (20% annually).
- Severance terms include a lump sum payment of three times the sum of base salary, incentive bonus, and current year's restricted stock award in the event of a change in control.