[Form 4] UNITED SECURITY BANCSHARES Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED SECURITY BANCSHARES director Susan Quigley disposed of stock and options in connection with the company’s merger into Community West Bancshares. On April 1, 2026, 24,887 shares of common stock were surrendered to the issuer at $10.51 per share as part of the merger consideration.
At the same time, 15,000 stock options with a $9.25 exercise price and a May 23, 2027 expiration were also disposed of to the issuer. Under the merger agreement, each company share became entitled to receive 0.4520 of a Community West share, and each of Quigley’s options was converted into a right to receive any value above a reference price of $10.29.
Positive
- None.
Negative
- None.
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 | $10.51 | $262K |
Holdings After Transaction:
Stock Options — 0 shares (Direct);
Common Stock — 0 shares (Direct)
Footnotes (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. 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).