SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BLAKE CHRISTOPHER D

(Last)

(First)

(Middle)

6110 EL TORDO

P.O. BOX 2388

(Street)

RANCHO SANTA FE

92067

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST COMMUNITY BANCORP /CA/ [ FCBP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Subsid Pres, E. Region, PWNB

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2003

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/29/2003		P		635	A	$31.4	2,861⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Stock	$0⁽²⁾	07/28/2003		A		20,000		01/01/2004⁽³⁾	07/28/2010	Common Stock	20,000	$0⁽³⁾	35,000⁽⁴⁾	D

Explanation of Responses:

1. The Reporting Person also beneficially owns 3,196 shares which are held indirectly, in the name of the Trustee of the First Community Bancorp Deferred Compensation Plan.

2. Performance Stock converts 1 for 1 into shares of Issuer common stock upon vesting.

3. Reporting Person received a Performance Stock grant of 20,000 shares under the Issuer's 2003 Stock Incentive Plan (the "Plan"). The award will vest in full or in part on the date the Compensation Committee of the Issuer's Board of Directors, as Administrator of the Plan, determines that the Issuer achieved annual Cash EPS goals (as defined in and pursuant to the terms of the Plan). Fifty percent (50%) of the Performance Stock will vest upon reaching annual Cash EPS of $2.48; seventy-five percent (75%) of the Performance Stock will vest upon reaching annual Cash EPS of $2.89; and the Performance Stock will vest in full upon reaching annual Cash EPS of $3.30. As of the date of the grant, the Reporting Person holds dividend and voting rights with respect to the Performance Stock, subject to termination of such rights under the terms of the Plan.

4. Reporting Person beneficially owns 20,000 shares of Performance Stock and 15,000 options convertible into Issuer's common stock. The Performance Stock will vest as set forth above. 15,000 options at $26.81 have vested or will vest in one-third increments on July 24, 2003, 2004 and 2005.

	/s/ Christopher D. Blake	07/30/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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