Peter Hui, First Choice Bancorp's board chairman, adopted a stock trading plan under which up to 20,000 common shares of the company will be purchased.
It is anticipated that purchases under the 10b5-1 plan will start Oct. 1 and will be completed within one year.
Currently, Hui has an ownership interest in a total of 716,818 shares of the company that includes shares underlying exercisable stock options, shares underlying previously vested restricted stock units and shares underlying restricted stock units that have not yet vested.
Hui will have no discretion over the purchases of shares under the plan.
First Choice Bancorp is the parent company of First Choice Bank.