WARBURG PINCUS LLC

Warburg Pincus LLC sells 4,250,000 shares of BANC at $20.10, reducing stake by -61.7% to 2,640,244 shares; elevated volume concentrated in Feb 2026.

Warburg Pincus LLC, a director of Banc of California, sold 4,250,000 shares ($85.425M total value) on 2026-02-13, marking a substantial -61.7% reduction of its 6,890,244-share position. The sale occurred after a 90-day run of +18.9% and near the 52-week high (current price $20.10 is -4.7% from $21.10 peak), suggesting disposal near a regional strength point. Notably, WARBURG PINCUS LLC executed five separate sales at BANC all clustered on or around 2026-02-02 through 2026-02-13, indicating a coordinated exit sequence rather than isolated tactical adjustment. The company's fundamentals remain solid (P/E 14.57, +24.1% annual revenue growth, $69.6M net income on $466.8M revenue), so this liquidation appears driven by portfolio-level capital allocation rather than fundamental deterioration. The scale and tempo of the divestiture—moving from majority to substantially reduced stakeholder status in a single month—warrant examination of whether this signals a shift in the director's strategic view or operational capacity at the company.

Warburg Pincus sells 4,250,000 BANC shares at $20.10; reduces stake 61.7%, retains 2,640,244 shares post-transaction.

Warburg Pincus LLC, a Director of Banc of California, executed a substantial open-market sale of 4,250,000 shares at $20.10 on 2026-02-13, reducing its position by 61.7% from 6,890,244 to 2,640,244 shares and realizing $85,425,000.00 in proceeds. The sale occurred with the stock trading -4.7% below its 52-week high of $21.10 and follows recent price momentum of +18.9% over 90 days, suggesting the insider capitalized on a near-peak valuation. The company's fundamentals remain solid—net income of $69,629,000.00 and annual revenue growth of +24.1%—yet this outsized reduction in a major director's stake, combined with Warburg Pincus's prior five sales at BANC all executed within a 12-day window (February 2–13), signals a deliberate and material shift in the insider's exposure to the company. The cross-ticker track record shows a 30.77% well-timed rate on prior sales, though same-ticker outcomes at BANC are not yet measurable, leaving the strategic intent of this concentrated exit unclear pending 90-day post-transaction price performance.

Warburg Pincus LLC exits BANC entirely: 3 separate sales totaling 11,850,000 shares for $237,000,000.00

Warburg Pincus LLC, a director at Banc of California, completed a complete liquidation of its position through 3 separate sales on 2026-02-02, selling 11,850,000 shares (11.85M shares) at a blended average price of $20.00 for a total value of $237,000,000.00, reducing holdings from 11,850,000 shares to 0 shares (-100.0%). The sale occurred near the 52-week high, with the stock trading at $20.13 currently, approximately 4.6% below its 52-week peak of $21.10. The company's fundamentals appear solid, with annual revenue growth of +24.1%, a P/E of 14.59, and quarterly net income of $69,629,000.00 on revenue of $466,826,000.00. At this ticker specifically, Warburg Pincus's prior 2 measurable sales on 2025-09-08 were poorly timed, with the stock rising +16.6% over the subsequent 90-day period. This complete exit warrants attention to whether it signals broader structural reassessment of the position or reflects liquidity/portfolio rebalancing decisions at the fund level.

Warburg Pincus LLC completely exits 11.85M shares ($237.0M) at $20.00 on 2026-02-02

Warburg Pincus LLC, a director of BANC OF CALIFORNIA, INC., executed 3 separate sales totaling 11,850,000 shares for $237,000,000.00, reducing holdings to 0 shares—a complete exit of its position on 2026-02-02. The blended average price of $20.00 compares to a current price of $20.13 and a 52-week high of $21.10, placing the transaction near the recent trading range but not at the absolute peak. The company's fundamentals remain solid with Annual revenue growth of +24.1%, a P/E of 14.59, and recent quarterly revenue of $466,826,000.00 and net income of $69,629,000.00. Prior sales by this insider at BANC on 2025-09-08 each showed positive 30d and 90d returns (+8.1% and +16.6%), meaning those sales proved poorly timed as the stock rose afterward; notably, neither of the 2 measurable prior sales at this ticker achieved a negative 90-day return (0 of 2 well-timed). The complete liquidation of a director-level stake warrants attention to whether fundamentals or capital allocation strategy has shifted, particularly given the absence of any public disclosure flags that would explain the exit timing or intent.

Warburg Pincus sells 5,650,000 shares (64.2% reduction) at $16.38 for $92,547,000.00

Warburg Pincus LLC, a director at BANC, executed 2 separate sales totaling 5,650,000 shares for $92,547,000.00 on September 5–8, 2025, at a blended average price of $16.38, reducing its holdings by 64.2% from 8,797,470 to 3,147,470 shares. The transaction occurred near the stock's 52-week high of $17.77 (current price $16.79 is -5.5% from that peak) and follows a strong 90-day rally of +19.0%. Fundamentals remain solid with annual revenue growth of +24.1%, net income of $28,385,000.00, and a market cap of $2,473,184,646.29. The scale of this divestiture—selling nearly two-thirds of the insider's stake—warrants attention to the motive, especially given the timing coincides with the stock near yearly highs and strong recent momentum.

Warburg Pincus LLC sells 5,650,000 shares of BANC for $92,547,000.00, reducing stake by 64.2%

Warburg Pincus LLC, a director, executed 2 separate sales totaling 5,650,000 shares for $92,547,000.00 at $16.38 per share on 2025-09-05 and 2025-09-08, exiting 64.2% of its prior 8,797,470 shares and leaving a post-transaction holding of 3,147,470 shares. The sales occurred as BANC's stock trades at $16.79 (current), near its 52-week high of $17.77 with 30-day momentum of +15.5%, and the company shows solid fundamentals including $453,142,000.00 in quarterly revenue, $28,385,000.00 in net income, and 24.1% annual revenue growth. Across Warburg Pincus's entire cross-ticker open-market history, prior sells have averaged positive 90-day returns of 8.1% with a 40.00% well-timed rate; however, at this specific ticker (BANC), there are no prior measurable outcomes to establish a pattern. The substantial reduction in stake size and timing near recent price strength merit monitoring for any signals regarding the director's forward confidence in the company.

Warburg Pincus LLC exits CWAN entirely: 3,103,450 shares sold at $29.11 on 2024-11-13 for $90.3M

Warburg Pincus LLC liquidated its entire 3.10M share position in Clearwater Analytics, reducing holdings to 0 shares. The sale occurred at $29.11 per share, with the stock now trading at $30.45 and up 29.1% over 90 days. Prior sales by this insider at CWAN have systematically occurred before rallies: the August and June 2024 sales posted 90-day gains of +27.5% and +19.7% respectively, indicating the insider's previous exit timing missed subsequent upside. Fundamentally, the company posted $115.8M in quarterly revenue with +21.3% annual growth but remains unprofitable on a full-year basis. The complete exit represents a material reduction in insider capital at a company experiencing strong revenue momentum despite operating losses.

Warburg Pincus exits CWAN entirely, selling 3.10M shares at $29.11 for $90.3M on 2024-11-13

Warburg Pincus liquidated its complete 3,103,450 share position in Clearwater Analytics, reducing holdings from 3,103,450 shares to 0 shares in a single transaction. The sale occurred at $29.11 per share, which is 7.1% below the 52-week high of $32.79 and 4.4% below the current price of $30.45, suggesting the sale price was not opportunistic relative to recent valuation peaks. Across his prior four measurable sales at CWAN, zero of four achieved negative 90-day returns (the mark of well-timed exits for a seller), indicating a pattern of selling into strength rather than ahead of declines at this specific ticker. The company reported annual revenue growth of +21.3% but remains unprofitable on a full-year basis, making this a complete exit from a growth-stage but not-yet-profitable business—a material shift in the insider's conviction at this holding.

Warburg Pincus exits Clearwater Analytics entirely, selling 9,000,000 shares for $201.7M; director liquidates complete position.

Warburg Pincus LLC exited its entire 9,000,000-share position in Clearwater Analytics on 2024-08-08, liquidating at $22.41 per share for $201,690,000.00. This represents a complete divestiture (from 9,000,000 shares to 0 shares post-transaction). The timing context is material: across prior same-ticker history, the insider's 2 prior measurable sales (December 2023) both declined in the 90-day period following the sale (-11.1%), demonstrating a pattern of well-timed exits at this ticker. The company currently trades at $22.34 (within 0.1% of the sale price), sits 6.0% below its 52-week high of $23.76, and has seen 30-day gains of 18.1% and 90-day gains of 17.9%. Clearwater remains unprofitable (full-year net income negative), though revenue grew 21.3% year-over-year. A complete director-level liquidation of a nine-figure position warrants close scrutiny of the underlying rationale and the company's near-term outlook.

Warburg Pincus LLC exits entire 9.00M share CWAN stake for $201.7M at $22.41; PE firm fully liquidates position

Warburg Pincus LLC, a Director of Clearwater Analytics, liquidated its complete 9,000,000 share holding at $22.41 on 2024-08-08 for a total value of $201,690,000.00, reducing post-transaction holdings to 0 shares. This represents a 100% exit from the company. At the same ticker, the firm's prior two sales on 2024-06-12 and 2023-12-05 showed negative 30-day and 90-day returns (−4.0% and −11.1% respectively), suggesting a pattern of selling into strength or ahead of declines. The stock currently trades at $22.34, only −6.0% from its 52-week high of $23.76, though it has rallied +18.1% over the prior 30 days and +17.9% over 90 days. Clearwater remains unprofitable (full-year net income was negative), though it showed +21.3% annual revenue growth, with the latest quarter reporting $106.8M in revenue against a −$430.0K net loss. The complete liquidation by a major investor during a period of recent price strength, combined with the company's underlying unprofitability despite revenue expansion, merits close attention to the firm's path to profitability and the PE firm's confidence in near-term business fundamentals.