United Security (NASDAQ: UBFO) SVP reports stock dispositions in Community West merger

Rhea-AI Filing Summary

United Security Bancshares senior vice president Porsche A. Saunders reported dispositions of company common stock in connection with the completion of its merger with Community West Bancshares. On April 1, 2026, shares were surrendered to the issuer and exchanged under the merger terms.

The filing shows 48,608.806 shares of common stock disposed of directly to the issuer and 8,010.138 shares disposed of indirectly from a custodial account. In a separate March 24, 2026 transaction, 13,389 shares were disposed of to cover tax obligations.

Under the merger agreement, each share of United Security common stock (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 outstanding unvested restricted stock awards vested and became entitled to the same merger consideration.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Saunders Porsche A

Role Insider

Type	Security	Shares	Price	Value
Disposition	Common Stock	48,608.806	$0.00	--
Disposition	Common Stock	8,010.138	$0.00	--
Tax Withholding	Common Stock	13,389	$0.00	--

Holdings After Transaction: Common Stock — 0 shares (Direct); Common Stock — 0 shares (Indirect, Custodial Account 2)

Footnotes (1)

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Key Figures

Direct shares disposed to issuer: 48,608.806 shares Indirect shares disposed: 8,010.138 shares Tax-withholding shares: 13,389 shares +1 more

4 metrics

Direct shares disposed to issuer 48,608.806 shares Common Stock, disposition to issuer on April 1, 2026

Indirect shares disposed 8,010.138 shares Common Stock from Custodial Account 2 on April 1, 2026

Tax-withholding shares 13,389 shares Common Stock disposed for tax liability on March 24, 2026

Merger exchange ratio 0.4520 share Community West common stock per United Security common share

Key Terms

Agreement and Plan of Merger, Merger Consideration, restricted stock award, dissenting shares

4 terms

Agreement and Plan of Merger financial

"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.

dissenting shares financial

"each share of Company common stock, other than excluded shares and dissenting shares, was converted"

Dissenting shares are shares held by investors who formally oppose a proposed corporate action—such as a merger or takeover—and choose to demand a cash payment for the value of their stock instead of accepting the deal’s terms. This matters to investors because it can slow or complicate a transaction, trigger a legal process to set a fair price, and affect how much cash a company must pay out, which in turn influences the financial outcome for all shareholders.

Form 4 Insider Transactions: What Each Field Means →

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

X

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^*

Saunders Porsche A

(Last) (First) (Middle)

2126 INYO STREET

(Street)

FRESNO CALIFORNIA 93721

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNITED SECURITY BANCSHARES [ UBFO ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026

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

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

4. If Amendment, Date of Original Filed (Month/Day/Year)
04/03/2026

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	03/24/2026		F		13,389	D	$0	0	D
Common Stock	04/01/2026		D		48,608.806	D	$0(1)	0	D
Common Stock	04/01/2026		D		8,010.138	D	$0(1)	0	I	Custodial Account 2

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. 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.

Remarks:

This amendment to the Reporting Person's Form 4 filed on April 3, 2026, is being filed to (i) clarify that the Reporting Person is no longer subject to Section 16 reporting with respect to the Company, (ii) correct the disposition price of shares of Company common stock, and (iii) make clarifying changes to footnote (1).

	/S/ Porsche A. Saunders	04/13/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did UBFO senior vice president Porsche A. Saunders report?

Porsche A. Saunders reported dispositions of United Security Bancshares common stock tied to its merger with Community West Bancshares. The filing shows shares returned to the issuer and additional shares delivered to satisfy tax obligations associated with equity compensation and the merger closing.

How many UBFO shares did Porsche A. Saunders dispose of in the merger?

The filing lists 48,608.806 United Security Bancshares common shares disposed of directly to the issuer and 8,010.138 shares disposed of indirectly from a custodial account. These dispositions occurred as part of the merger consideration mechanics when United Security merged into Community West Bancshares.

What was the tax-related share disposition reported for UBFO?

The Form 4/A shows a separate transaction on March 24, 2026 where 13,389 United Security Bancshares shares were disposed of. This disposition is labeled as payment of exercise price or tax liability by delivering securities, reflecting shares withheld to cover tax obligations rather than an open-market sale.

What are the merger terms affecting UBFO shareholders in this filing?

The merger terms state each United Security Bancshares common share, excluding certain categories, was converted into the right to receive 0.4520 of a Community West Bancshares common share. This exchange ratio defines the stock consideration that former United Security shareholders, including the reporting person, became entitled to receive.

How were UBFO restricted stock awards treated in the Community West merger?

The agreement provides that each outstanding unvested United Security Bancshares restricted stock award automatically vested in full at the merger’s effectiveness. Once vested, each such award became entitled to the same 0.4520-per-share Community West Bancshares stock consideration applicable to regular United Security common shares.

Did Porsche A. Saunders retain any UBFO shares after these transactions?

For each reported transaction, the Form 4/A shows total shares of United Security Bancshares common stock following the transaction as zero. This indicates no remaining United Security common shares under the reported holdings after the merger-related dispositions and the separate tax-withholding share delivery.