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PacWest Bancorp director just declared owning 871,714 shares of PacWest Bancorp

Paul Robert Burke, a director of PacWest Bancorp, has just filed an initial statement of beneficial ownership where 871,714 shares of PacWest Bancorp were declared. This form is usually filed as a prelude to receiving options or buying company shares, so there may be more to come from Burke. Burke operates out of Los Angeles, CA. Some additional info was provided as follows:

In connection with the merger of Square 1 Financial, Inc. with and into PacWest Bancorp on October 6, 2015 pursuant to the Agreement and Plan of Merger, dated March 1, 2015, as amended, by and between PacWest and Square 1, the reporting person received (i) the PacWest common stock reported...