[Form 4] UNITED SECURITY BANCSHARES Insider Trading Activity
UNITED SECURITY BANCSHARES SVP & Chief Financial Officer David A. Kinross reported indirect dispositions of common stock in connection with the company’s merger into Community West Bancshares.
Rhea-AI Filing Summary
UNITED SECURITY BANCSHARES SVP & Chief Financial Officer David A. Kinross reported indirect dispositions of common stock in connection with the company’s merger into Community West Bancshares. As trustee, he disposed of 95,733 indirectly held shares back to the issuer and now reports zero shares held in that indirect account.
The filing also shows a prior disposition of 28,236 indirectly held shares as a tax-withholding event. According to the merger agreement, effective at 12:01 a.m. on April 1, 2026, each share of United Security common stock was converted into the right to receive 0.4520 of a share of Community West common stock, and each unvested restricted stock award vested and became entitled to the same merger consideration.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Kinross David A
Role
SVP & CHIEF FINANCIAL OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 95,733 | $10.51 | $1.01M |
| Exercise Price or Tax Liability | Common Stock | 28,236 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 0 shares (Indirect, Trustee)
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 (the "Effective Time"), 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"); each outstanding unvested Company restricted stock award automatically vested in full and became entitled to the Merger Consideration.
Key Figures
Issuer disposition shares: 95,733 shares
Implied price per share: $10.51 per share
Tax-withholding shares: 28,236 shares
+2 more
5 metrics
Issuer disposition shares
95,733 shares
Common Stock returned to issuer in merger-related transaction
Implied price per share
$10.51 per share
Reported transaction price for 95,733-share disposition
Tax-withholding shares
28,236 shares
Disposition to cover exercise price or tax liability
Shares after final disposition
0 shares
Total shares following issuer disposition for indirect trustee account
Merger exchange ratio
0.4520 shares
Community West common stock per United Security share
Key Terms
Agreement and Plan of Merger, Merger Consideration, restricted stock award, tax-withholding disposition, +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
"was converted into the right to receive 0.4520 of a share of common stock of Community West (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.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
AI-generated analysis. How Rhea-AI works. Not financial advice.
