X0306 4 2017-11-01 1 0001084717 PACIFIC CONTINENTAL CORP PCBK 0001224809 HAGSTROM MITCHELL 111 W 7TH AVE EUGENE OR 97401 0 1 0 0 CHIEF BANKING OFFICER COMMON STOCK 2017-11-01 4 D 0 55325 D 0 D STOCK OPTION 11.3 2017-11-01 4 D 0 5368 D 2020-04-20 COMMON STOCK 5368 0 D STOCK OPTION 12.07 2017-11-01 4 D 0 7910 D 2021-04-21 COMON STOCK 7910 0 D STOCK OPTION 14.44 2017-11-01 4 D 0 7303 D 2018-02-20 COMMON STOCK 7303 0 D RESTRICTED STOCK UNIT 2017-11-01 4 D 0 1546 D COMMON STOCK 1546 0 D RESTRICTED STOCK UNIT 2017-11-01 4 D 0 3644 D COMMON STOCK 3644 0 D RESTRICTED STOCK UNIT 2017-11-01 4 D 0 4095 D COMMON STOCK 4095 0 D In connection with the merger of Pacific Continental Corporation ("Pacific Continental") with and into Columbia Banking System Inc. ("Columbia") on November 1, 2017 (the "Merger"), pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated January 9, 2017, by and among Columbia, Pacific Continental and Coast Merger Sub, Inc., each outstanding Pacific Continental common share was converted into the right to receive 0.6430 of a Columbia common share. At the effective time of the Merger, each outstanding stock option of Pacific Continental was cancelled and only entitled the holders thereof to receive (without interest), an amount in cash equal to the product of (i) the number of Pacific Continental common shares subject to such options immediately prior to the effective time of the Merger, multiplied by (ii) the excess, if any of (A) $27.00, the Equity Award Cashout Price over (B) the exercise price per Pacific Continental common share of such options less applicable taxes required to be withheld with respect to such payment. The Equity Award Cashout Price is equal to (A) 0.6430 multiplied by (B) $41.99, which was the Columbia average closing price for the 20 consecutive Nasdaq trading days ending on and including the trading day that was five trading days prior to the effective time of the Merger. At the effective time of the Merger, each outstanding restricted stock unit of Pacific Continental ("Pacific Continental Restricted Stock Units") , whether vested or unvested, was cancelled and only entitled the holders of such Pacific Continental Restricted Stock Units to receive (without interest), an amount in cash equal to (i) the number of Pacific Continental common shares subject to such Pacific Continental Restricted Stock Units immediately prior to the effective time of the Merger, multiplied by (ii) $27.00, the Equity Award Cashout Price, less applicable taxes required to be withheld with respect to such payment. These Pacific Continental Stock Options and Pacific Continental Restricted Stock Units were cancelled at the effective time of the Merger and converted into the right to receive the consideration described in notes (2) or (3) above. Mitchell Hagstrom 2017-11-02