United Security Bancshares (UBFO) director reports issuer disposition in Community West merger

Rhea-AI Filing Summary

UNITED SECURITY BANCSHARES director Susan Quigley reported disposing of her shares and options in connection with the company’s merger into Community West Bancshares. On April 1, 2026, she surrendered 24,887 shares of common stock and 15,000 stock options back to the issuer as part of the merger closing.

The merger became effective at 12:01 a.m. on April 1, 2026. Under the merger terms, 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 as merger consideration. Each outstanding unvested restricted stock award also vested in full and became entitled to the same stock consideration.

According to the filing, each of Quigley’s stock options was converted into the right to receive any amount by which the option’s exercise price exceeded $10.29, which was the 20-day volume-weighted average price of Community West’s stock ending March 27, 2026. After these issuer dispositions, the reported holdings for these positions were shown as zero.

Insights

Bank M&A and insider-transactions analyst

Director’s positions are cleaned up via merger-related issuer disposition, not market selling.

The filing shows Susan Quigley, a director of United Security Bancshares, disposing of 24,887 common shares and 15,000 stock options back to the issuer on April 1, 2026. This is tied directly to the merger in which United Security was combined with Community West Bancshares, rather than an open-market sale.

Under the merger agreement, each United Security common share became the right to receive 0.4520 Community West shares, while unvested restricted stock vested and received the same stock consideration. Her options were treated based on a $10.29 reference price, equal to the 20-day VWAP ending March 27, 2026, with value only above that level. This is a mechanical clean-up of equity in a change-of-control transaction, not a directional bet on the stock.

From an investor standpoint, the key information is the merger conversion ratio and the effective time, confirming how United Security equity rolled into Community West stock. Subsequent disclosures from Community West will frame the combined company’s performance and any integration updates.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider QUIGLEY SUSAN

Role Director

Type	Security	Shares	Price	Value
Disposition	Stock Options	15,000	$0.00	--
Disposition	Common Stock	24,887	$0.00	--

Holdings After Transaction: Stock Options — 0 shares (Direct); Common Stock — 0 shares (Direct)

Footnotes (1)

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. Pursuant to the Merger Agreement, at the effective time of the merger, each of the reporting person's stock options were converted into the right to receive the amount, if any, by which the option's price exceeded $10.29 (20 day VWAP ending 3/27/2026).

Key Figures

Common shares disposed: 24,887 shares Stock options disposed: 15,000 options Option exercise price: $9.25 per share +3 more

6 metrics

Common shares disposed 24,887 shares Issuer disposition on April 1, 2026 tied to merger

Stock options disposed 15,000 options Issuer disposition of options linked to merger

Option exercise price $9.25 per share Exercise price for 15,000 United Security stock options

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

Reference VWAP price $10.29 20-day VWAP of Community West stock ending March 27, 2026

Effective time of merger 12:01 a.m. April 1, 2026 Time merger of United Security into Community West became effective

Key Terms

Agreement and Plan of Merger, Merger Consideration, restricted stock award, 20 day VWAP, +1 more

5 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.

20 day VWAP financial

"exceeded $10.29 (20 day VWAP ending 3/27/2026)"

disposition to issuer financial

"transaction_code_description": "Disposition to issuer""

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^*

QUIGLEY SUSAN

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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	04/01/2026		D		24,887	D	$0(1)	0	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	$9.25	04/01/2026		D			15,000	05/23/2018	05/23/2027	Common Stock	15,000	(2)	0	D

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.

2. Pursuant to the Merger Agreement, at the effective time of the merger, each of the reporting person's stock options were converted into the right to receive the amount, if any, by which the option's price exceeded $10.29 (20 day VWAP ending 3/27/2026).

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/ Susan Quigley	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 did United Security Bancshares (UBFO) director Susan Quigley report in this Form 4/A?

She reported disposing of 24,887 common shares and 15,000 stock options back to United Security Bancshares. These issuer dispositions occurred on April 1, 2026, in connection with the company’s completed merger into Community West Bancshares and were not open-market trades.

How were United Security Bancshares (UBFO) shares converted in the merger with Community West Bancshares?

Each share of United Security Bancshares common stock, other than excluded and dissenting shares, was converted into the right to receive 0.4520 of a share of Community West Bancshares common stock. This fixed stock-for-stock exchange ratio defined the merger consideration for stockholders.

What happened to United Security Bancshares (UBFO) restricted stock awards in the merger?

Each outstanding unvested restricted stock award of United Security Bancshares automatically vested in full at the merger’s effective time. Once vested, those shares became entitled to receive the same 0.4520-share Community West Bancshares stock consideration as other eligible common shares.

How were Susan Quigley’s United Security Bancshares (UBFO) stock options treated in the merger?

At the effective time, each of her stock options converted into the right to receive any amount by which the option’s exercise price exceeded $10.29. The $10.29 figure reflected the 20-day volume-weighted average price of Community West Bancshares stock ending March 27, 2026.

Why does the Form 4/A show zero United Security Bancshares (UBFO) shares following the transactions?

The filing shows total shares following each reported transaction as zero because Quigley’s United Security common stock and options were disposed of to the issuer in the merger. Her economic interest effectively transitioned into Community West Bancshares stock under the agreed exchange ratio.