Company: BANC-PF
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001169770-25-000015
Chunk: 48

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 48
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SE with regard to compensation advisor independence and determined Meridian was independent and had no conflicts of interest.

Use of Discretion and Judgment. The CNG Committee also considers executive officer performance and prudent risk management, when assessing outcomes under our incentive plans. This allows us to consider our performance versus stated objectives, external market considerations, behaviors, and extraordinary events (e.g., the PacWest Merger).

Role of Peer Group for 2024 Compensation Decisions

An important part of our compensation governance is the CNG Committee’s review of the Company’s compensation programs relative to the competitive market. When reviewing our compensation program, while keeping a primary focus on what is in the Company’s and stockholders’ best interests, the CNG Committee uses market data to help inform its decision-making regarding competitive pay levels and to understand how compensation compares to the market for comparable banks.

Following the PacWest Merger and for determining 2024 pay opportunities, the CNG Committee made significant adjustments to update the peer group to be more reflective of the combined organization. In reviewing potential companies to add to or remove from the peer group, and with assistance from Meridian, the CNG Committee's independent compensation consultant, we considered the following key principles:

• Operate in a comparable industry : Regional banks;

• Comparable in size and scope : Regional banks with total assets ranging from approximately 1/2 to 2 times the combined Company’s total assets;

• Business relevance : Banks that have predominantly a commercial banking focus with an appropriate asset range;

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#### 47Banc of CaliforniaAnnual Proxy Statement2025
| Compensation Discussion and Analysis |

• Compete for the same talent : High-performing institutions with similar qualitative and quantitative competitive profiles, including some peers with geographic overlap and similar competitive compensation dynamics when recruiting talent.

We considered it important to establish a robust peer group that is large enough to withstand potential industry volatility. This process, along with our review and judgment, resulted in the below 15-company peer group:

| Bank of Hawaii Corporation    |     | Old National Bancorp           |
| Bank OZK                      |     | Pinnacle Financial Partners    |
| BankUnited, Inc.              |     | Prosperity Bancshares, Inc.    |
| Columbia Banking System, Inc. |     | Texas Capital Bancshares, Inc. |
| East West Bancorp, Inc.       |     | UMB Financial Corporation      |
| F.N.B. Corporation            |     | United Bankshares,