United Security (UBFO) SVP stock swapped in Community West merger

Rhea-AI Filing Summary

UNITED SECURITY BANCSHARES senior vice president and chief credit officer William M. Yarbenet reported a merger-related disposition of company stock. He surrendered 75,475.040 shares of common stock at $10.51 per share in a transaction coded as a disposition to the issuer.

According to the merger agreement with Community West Bancshares, each United Security share was converted into the right to receive 0.4520 of a Community West common share when the merger became effective at 12:01 a.m. on April 1, 2026. Following this conversion event, Yarbenet reports owning 0 United Security common shares and no derivative securities in this filing.

Insights

Banking equity analyst

Insider’s shares were converted in a merger, not sold on the open market.

SVP & CCO William M. Yarbenet disposed of 75,475.040 United Security common shares at $10.51 per share through a transaction labeled as a disposition to the issuer. The footnote links this directly to the closing of the merger with Community West Bancshares.

At the merger’s effective time on April 1, 2026, each United Security share became the right to receive 0.4520 Community West shares as merger consideration. This indicates an automatic conversion tied to the deal terms, rather than a discretionary open-market sale, and is typically viewed as a low-signal governance event.

After the transaction, the filing shows Yarbenet holding 0 United Security shares and no listed derivatives, meaning his economic exposure to United Security common stock ended with the merger. Any ongoing exposure would now run through Community West equity under the 0.4520 exchange ratio defined in the merger agreement.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Yarbenet William M.

Role SVP & CCO

Type	Security	Shares	Price	Value
Disposition	Common Stock	75,475.04	$10.51	$793K

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

Footnotes (1)

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Key Figures

Shares disposed: 75,475.040 shares Disposition price: $10.51 per share Post-transaction holdings: 0.0000 shares +2 more

5 metrics

Shares disposed 75,475.040 shares Common stock disposition coded as issuer disposition

Disposition price $10.51 per share Value used for reported common stock disposition

Post-transaction holdings 0.0000 shares United Security common stock held after merger-related disposition

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

Merger effective time 12:01 a.m. April 1, 2026 Time the merger and share conversion became effective

Key Terms

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

dissenting shares regulatory

"each share of Company common stock, other than excluded shares and dissenting shares, was converted into the right to receive"

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.

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

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^*

Yarbenet William M.

(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 & CCO

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)

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		75,475.04	D	$10.51	0	D(1)

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/ William M Yarbenet	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 transaction did UBFO executive William M. Yarbenet report?

William M. Yarbenet reported disposing of 75,475.040 shares of United Security Bancshares common stock at $10.51 per share. The filing classifies this as a disposition to the issuer connected to the completion of the company’s merger with Community West Bancshares.

Was the Yarbenet Form 4 for UBFO an open-market stock sale?

No, the Yarbenet Form 4 shows a disposition to the issuer tied to a merger. His United Security Bancshares shares were converted under merger terms, not sold on the open market, which generally carries less signaling value for investors.

How many UBFO shares did Yarbenet hold after the merger transaction?

After the reported transaction, Yarbenet’s Form 4 shows 0.0000 shares of United Security Bancshares common stock. The filing also lists no remaining derivative securities, indicating his direct United Security equity position ended at the merger’s effective time.

What merger terms affected UBFO insider holdings in this Form 4?

The merger agreement with Community West Bancshares converted each United Security common share into the right to receive 0.4520 Community West common shares. The merger became effective at 12:01 a.m. on April 1, 2026, triggering Yarbenet’s reported disposition.

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

At the merger’s effective time, each outstanding unvested United Security Bancshares restricted stock award vested in full. Those vested shares then became entitled to the same 0.4520-per-share Community West common stock merger consideration as other eligible United Security shares.

What does the 0.4520 exchange ratio mean for UBFO shareholders?

The 0.4520 exchange ratio means each eligible United Security Bancshares share was converted into the right to receive 0.4520 Community West common shares. This ratio determined how many Community West shares former United Security shareholders became entitled to after the merger closed.