UBFO (UNITED SECURITY BANCSHARES) insider stock converted in Community West Bancshares merger

Rhea-AI Filing Summary

UNITED SECURITY BANCSHARES SVP/Chief Banking Officer Kevin J. Williams reported dispositions of common stock linked to the company’s merger with Community West Bancshares. On April 1, 2026, 49,575 shares were disposed of to the issuer in connection with the merger, at a reported value of $10.51 per share.

According to the merger terms, each share of UNITED SECURITY BANCSHARES common stock was converted into the right to receive 0.4520 of a share of Community West common stock, and unvested restricted stock awards fully vested into the same consideration. Earlier, on March 24, 2026, a total of 34,262 shares were disposed of as tax-withholding transactions, leaving Williams with no directly held UNITED SECURITY BANCSHARES shares after the merger.

Insights

Banking M&A and insider transactions analyst

Insider holdings converted in merger; dispositions are mainly structural, not open-market selling.

The transactions show Kevin J. Williams, SVP/Chief Banking Officer of UNITED SECURITY BANCSHARES, disposing of 49,575 common shares back to the issuer at $10.51 per share as part of a completed merger into Community West Bancshares. This reflects the legal mechanics of the merger rather than discretionary selling.

The footnote explains that, effective at 12:01 a.m. on April 1, 2026, each UNITED SECURITY BANCSHARES share became entitled to 0.4520 Community West share as Merger Consideration, and unvested restricted stock awards fully vested into that same consideration. On March 24, 2026, two F-code transactions totaling 34,262 shares covered tax obligations by delivering shares, not market sales.

After these events, Williams reported zero directly held UNITED SECURITY BANCSHARES shares, consistent with all equity converting or being used for tax. The informational value lies in confirming the merger’s effectiveness and exchange ratio; there is no open-market buy or sell signal from the insider in this filing.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider WILLIAMS KEVIN J

Role SVP/Chief Banking Officer

Type	Security	Shares	Price	Value
Disposition	Common Stock	49,575	$10.51	$521K
Tax Withholding	Common Stock	27,618	$0.00	--
Tax Withholding	Common Stock	6,644	$0.00	--

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

Footnotes (1)

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Key Figures

Issuer disposition shares: 49,575 shares Issuer disposition price: $10.51 per share Tax-withholding shares: 34,262 shares +2 more

5 metrics

Issuer disposition shares 49,575 shares Disposed to issuer on April 1, 2026 at $10.51 per share

Issuer disposition price $10.51 per share Value reported for 49,575 shares disposed in merger-related transaction

Tax-withholding shares 34,262 shares Shares delivered on March 24, 2026 to cover exercise price or tax liability

Post-transaction holdings 0 shares Total UNITED SECURITY BANCSHARES common stock directly held after April 1, 2026

Merger exchange ratio 0.4520 share Community West common stock per UNITED SECURITY BANCSHARES share as Merger Consideration

Key Terms

Agreement and Plan of Merger, Merger Consideration, restricted stock award, tax-withholding disposition

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

"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

"Payment of exercise price or tax liability by delivering securities"

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.

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

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^*

WILLIAMS KEVIN J

(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
X	Officer (give title below)		Other (specify below)
	SVP/Chief Banking Officer

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)

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		27,618	D	$0	56,219	D
Common Stock	03/24/2026		F		6,644	D	$0	49,575	D
Common Stock	04/01/2026		D		49,575	D	$10.51	0(1)	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

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 (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.

Remarks:

	/s/ Kevin J. Williams	04/01/2026
	** 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 executive Kevin J. Williams report?

Kevin J. Williams reported disposing of 49,575 shares of UNITED SECURITY BANCSHARES common stock to the issuer and 34,262 shares in tax-withholding transactions. These moves were tied to the completed merger into Community West Bancshares and related tax obligations, not open-market buying or selling.

How many UBFO shares did Kevin J. Williams hold after these transactions?

After the reported transactions, Kevin J. Williams held zero directly owned shares of UNITED SECURITY BANCSHARES common stock. His holdings were either converted into Community West Bancshares stock as merger consideration or used to satisfy tax obligations through share-delivery transactions on March 24, 2026.

What was the merger consideration for UNITED SECURITY BANCSHARES (UBFO) shareholders?

Each share of UNITED SECURITY BANCSHARES common stock was converted into the right to receive 0.4520 of a share of Community West Bancshares common stock. In addition, each outstanding unvested restricted stock award automatically vested in full and became entitled to that same 0.4520-share merger consideration per underlying share.

Were Kevin J. Williams’ UBFO transactions open-market sales or tax and merger related?

The filing shows no open-market sales. Instead, 49,575 shares were disposed of to the issuer in connection with the merger, and 34,262 shares were delivered to cover exercise price or tax liabilities. These are structural merger and tax-withholding events, not discretionary market trades.

What do the F-code transactions mean in the UBFO Form 4 for Kevin J. Williams?

The F-code transactions represent payment of exercise price or tax liability by delivering 34,262 shares of UNITED SECURITY BANCSHARES common stock. This method withholds shares to meet obligations, so it is not considered an open-market sale and does not reflect an independent trading decision by the executive.

When did the UNITED SECURITY BANCSHARES and Community West Bancshares merger become effective?

The merger between UNITED SECURITY BANCSHARES and Community West Bancshares became effective at 12:01 a.m. on April 1, 2026. At that effective time, each eligible UNITED SECURITY BANCSHARES common share converted into the right to receive 0.4520 Community West common shares as the agreed merger consideration.