United Security director exits stake in merger
United Security Bancshares director Stanley J. Cavalla reported disposing of his entire stake in the company’s common stock as part of its merger into Community West Bancshares.
Rhea-AI Filing Summary
United Security Bancshares director Stanley J. Cavalla reported disposing of his entire stake in the company’s common stock as part of its merger into Community West Bancshares. On April 1, 2026, he relinquished 679,453 directly held shares and 270 indirectly held trust shares to the issuer at $0.00 per share. Under the merger terms effective at 12:01 a.m. that day, each United Security share (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a share of Community West common stock, and all unvested restricted stock awards vested and became entitled to the same stock consideration.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 679,723 shares
Disposition
2 txns
Insider
CAVALLA STANLEY J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 679,453 | $0.00 | $0.00 |
| Disposition | Common Stock | 270 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, Trust)
Footnotes (1)
- F1. Disposed of pursuant to the Agreement and Plan of Merger, dated as of December 16, 2025 (the "Merger Agreement"), by and between Community West Bancshares ("Community West") and United Security Bancshares (the "Company"), providing for the Company to merge (the "Merger") with and into Community West with Community West being the surviving entity. The Merger became effective at 12:01 a.m. on April 1, 2026, at which time (i) each share of Company common stock, other than excluded shares and dissenting shares, was converted into the right to receive 0.4520 of a share of common stock of Community West (the "Merger Consideration"); (ii) each outstanding unvested Company restricted stock award automatically vested in full and became entitled to the Merger Consideration.
Key Figures
Direct shares disposed: 679,453 shares
Indirect trust shares disposed: 270 shares
Post-transaction United Security holdings: 0 shares
+2 more
5 metrics
Direct shares disposed
679,453 shares
Common Stock returned to issuer on April 1, 2026
Indirect trust shares disposed
270 shares
Common Stock held indirectly through a trust, April 1, 2026
Post-transaction United Security holdings
0 shares
Total shares following disposition on April 1, 2026
Merger exchange ratio
0.4520 share
Community West common stock per United Security share
Merger effective time
12:01 a.m.
Effective time on April 1, 2026 for the merger
Key Terms
Agreement and Plan of Merger, Merger Consideration, restricted stock award, dissenting shares
4 terms
Agreement and Plan of Merger regulatory
"Disposed of pursuant to the Agreement and Plan of Merger, dated as of December 16, 2025..."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Merger Consideration financial
"each share of Company common stock...was converted into the right to receive 0.4520 of a share... (the "Merger Consideration")"
Merger consideration is the total payment a company or buyer offers to shareholders of a target company in exchange for combining the two businesses, and can include cash, shares in the surviving company, debt assumption, or a mix of these. Investors care because the form and amount affect the deal’s value, tax consequences, immediate cash received versus future ownership, and the risk and upside of holding new shares — similar to choosing between cash now or stock that could grow later.
restricted stock award financial
"each outstanding unvested Company restricted stock award automatically vested in full and became entitled to the Merger Consideration"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did United Security (UBFO) director Stanley J. Cavalla report on this Form 4/A?
Stanley J. Cavalla reported disposing of all his United Security Bancshares common stock. He transferred 679,453 directly held shares and 270 indirectly held trust shares to the issuer as part of the company’s merger into Community West Bancshares, leaving him with no reported United Security shares.
When did the United Security (UBFO) and Community West merger become effective?
The merger of United Security Bancshares into Community West Bancshares became effective at 12:01 a.m. on April 1, 2026. At that time, United Security shares were converted into rights to receive Community West stock under the agreed 0.4520 exchange ratio, and related equity awards were adjusted.
How were United Security (UBFO) restricted stock awards treated in the merger?
Each outstanding unvested United Security restricted stock award automatically vested in full at the merger’s effectiveness. Once vested, these shares became entitled to receive the same Merger Consideration as other common shares, meaning 0.4520 of a Community West common share for each underlying United Security share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
