Submission of Matters to a Vote of Security Holders (Form 8-K)

On June 23, 2021, Pacific Mercantile Bancorp, a California corporation (the 'Company') held its special meeting of shareholders (the 'Special Meeting'). At the Special Meeting, the Company's shareholders voted on the proposals listed below, each of which was described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on May 14, 2021 in connection with the Company's proposed merger (the 'Merger') with Banc of California, Inc., a Maryland corporation ('Banc of California'), upon the terms and subject to the conditions set forth in the Agreement and Plan of Merger, dated March 22, 2021, by and between the Company and Banc of California (the 'Merger Agreement').

On the record date for the Special Meeting on May 10, 2021, there were 22,322,184 shares of the Company's common stock entitled to vote on each of Proposals 1-3.

Voting Results

Proposal 1 - Merger Proposal

The shareholders voted to approve the principal terms of the Merger Agreement. The voting results were as follows:

Proposal 2 - NEO Compensation Proposal

The shareholders voted to approve, on an advisory (non-binding) basis, the compensation to be paid to the named executive officers of the Company in connection with the Merger. The voting results were as follows:

Proposal 3 - Adjournment Proposal

The shareholders voted to approve one or more adjournments of the Special Meeting, if necessary or appropriate, including adjournments to permit further solicitation of proxies if there are insufficient votes at the time of the Special Meeting to approve the merger proposal or the NEO compensation proposal. The voting results were as follows:

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