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Activist shareholder proposes majority voting standard at Banc of California director elections

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Activist shareholder proposes majority voting standard at Banc of California director elections

A nonbinding shareholder proposal by PL Capital Grouprequests that a majority voting standard be applied in the election ofBanc of California Inc.'sboard members, instead of the currently used plurality standard.

The investor group of Richard Lashley and John Palmer owned2.3 million shares of the Irvine, Calif.-based bank as of the first quarter'send.

Banc of California will hold its annual shareholder meetingon May 13.