CVB Financial (CVBF) Director Adds $1M in Stock, Ownership Tops 7.6M Shares

Rhea-AI Filing Summary

On 04 Aug 2025, CVB Financial Corp (CVBF) director George A. Borba Jr filed Form 4 reporting an open-market purchase of 53,567 common shares (Transaction Code P) at a weighted-average price of $18.6682 (price range $18.495–$18.72). The purchase was made through George Borba & Son Dairy, L.P., lifting that partnership’s stake to 718,688 shares.

The filing details Borba’s wider ownership: 54,825 directly held shares, 288 shares as custodian for minor children, 4,599,439 shares in a marital trust, and 2,277,000 shares in a children’s holding trust, bringing total reported beneficial exposure to roughly 7.6 million shares. Borba remains a director and is not flagged as a 10 % owner.

Insider buying is typically viewed as a favorable governance signal because it may reflect confidence in the issuer’s valuation and prospects. Nevertheless, the newly acquired shares represent a small fraction of Borba’s existing position, so the incremental impact on alignment and market perception is modest.

Positive

• Director George A. Borba Jr purchased 53,567 CVBF shares at ~$18.67, indicating confidence and increasing his partnership stake to 718,688 shares.
• The filing shows substantial insider ownership—over 4.5 million shares in a marital trust and other vehicles—aligning director interests with shareholders.

Negative

• The new purchase only adds <1 % to Borba’s already large 7.6 million-share position, limiting incremental signaling power.

Insights

Securities Analyst

TL;DR – Director’s $1 M purchase is a constructive, but small, bullish signal.

The ~$1.0 million purchase (53,567 sh × $18.67) increases Borba’s indirect stake by 8 %. Insider buying—especially by long-tenured directors—often precedes outperformance because it suggests undervaluation or confidence in future fundamentals. However, Borba already controls ~7.6 million shares; the added tranche lifts total exposure by <1 %, muting the informational value. No sales were reported, preserving a net positive tone. The trade occurred near the stock’s recent trading range, indicating opportunistic accumulation rather than aggressive conviction buying.

Corporate Governance Expert

TL;DR – Fresh insider buy marginally strengthens shareholder alignment.

From a governance stance, purchasing shares in the open market—rather than via option exercise—demonstrates personal financial commitment. Borba’s layered holdings through trusts, partnership and custodial accounts already provide substantial skin in the game, aligning board incentives with long-term shareholders. While the added 53 k shares are not material relative to his aggregate exposure, the absence of concurrent sales and the use of personal capital keep the governance signal positive. No red flags, related-party transactions, or 10b5-1 safe-harbor indicators were noted.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Borba George A Jr

(Last) (First) (Middle)

701 N HAVEN AVE

(Street)

ONTARIO CA 91764

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CVB FINANCIAL CORP [ CVBF ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/04/2025		P		53,567	A	$18.6682(1)	718,688(2)	I	Indirectly through Partnership
Common Stock								54,825	D
Common Stock								288(3)	I	As Custodian
Common Stock								4,599,439(4)	I	In Trust
Common Stock								2,277,000(5)	I	Trustee

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the weighted average purchase price. The shares were purchased at prices ranging from $18.495 to $18.72 per share. Full information regarding the number of shares purchased at each price shall be provided to the Staff, Issuer, or a security holder of Issuer, upon request.

2. Shares held by George Borba & Son Dairy, L.P., a California limited partnership, of which Reporting Person is a general partner.

3. Shares held by Reporting Person as custodian for his minor children, of which he disclaims beneficial ownership except to the extent of his pecuniary interest, if any therein.

4. Shares held by The Marital Trust under The George Borba Family Trust, of which Reporting Person is a co-trustee and disclaims beneficial ownership thereof, except to the extent of his pecuniary interest, if any, therein.

5. Shares held by the Borba Childrens Holding Trust, of which Reporting Person is a co-trustee and disclaims beneficial ownership thereof except to the extent of his pecuniary interest, if any, therein.

	/s/ George A. Borba Jr	08/04/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

How many CVBF shares did Director George A. Borba Jr buy on 08/04/2025?

He bought 53,567 common shares in an open-market transaction.

What was the purchase price for the insider transaction reported in the CVBF Form 4?

The weighted-average price was $18.6682, with prices ranging from $18.495 to $18.72.

How many CVBF shares does Borba now hold through George Borba & Son Dairy, L.P.?

Post-transaction, the partnership owns 718,688 shares.

What is George A. Borba Jr’s total reported beneficial ownership in CVBF?

Including trusts and direct holdings, the Form 4 discloses exposure to approximately 7.6 million shares.

Does the Form 4 indicate any insider selling of CVBF shares?

No. The filing lists only a purchase (Code P); no sales were reported.