Merger shifts United Security Bancshares (UBFO) SVP stake to Community West

Rhea-AI Filing Summary

United Security Bancshares SVP Porsche A. Saunders reported disposing of all common stock holdings in connection with the company’s merger into Community West Bancshares. On April 1, 2026, 48,608.806 directly held shares and 8,010.138 indirectly held shares were surrendered to the issuer as part of the merger consideration process.

The footnote explains that, at the merger’s effective time, each United Security share (other than excluded and dissenting shares) was converted into the right to receive 0.4520 share of Community West common stock. Earlier, on March 24, 2026, 13,389 shares were disposed of as a tax-withholding transaction tied to equity compensation, a routine non‑market event.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Saunders Porsche A

Role Insider

Type	Security	Shares	Price	Value
Disposition	Common Stock	48,608.806	$10.51	$511K
Disposition	Common Stock	8,010.138	$10.51	$84K
Tax Withholding	Common Stock	13,389	$0.00	--

Holdings After Transaction: Common Stock — 0 shares (Direct); Common Stock — 0 shares (Indirect, Custodial Account 2)

Footnotes (1)

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Key Figures

Direct shares disposed: 48,608.806 shares Indirect shares disposed: 8,010.138 shares Tax-withholding shares: 13,389 shares +3 more

6 metrics

Direct shares disposed 48,608.806 shares Issuer disposition on April 1, 2026

Indirect shares disposed 8,010.138 shares Issuer disposition from Custodial Account 2 on April 1, 2026

Tax-withholding shares 13,389 shares Tax-withholding disposition on March 24, 2026

Reported share value $10.5100 per share Price associated with April 1, 2026 dispositions

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

Merger effective time 12:01 a.m. Effective Time on April 1, 2026

Key Terms

Agreement and Plan of Merger, Merger Agreement, Merger Consideration, restricted stock award, +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 Agreement regulatory

"the Agreement and Plan of Merger, dated as of December 16, 2025 (the "Merger Agreement")"

A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.

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^*

Saunders Porsche A

(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
	Officer (give title below)	X	Other (specify below)
			SVP

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		13,389	D	$0	48,608.806	D
Common Stock	04/01/2026		D		48,608.806	D	$10.51(1)	0	D
Common Stock	04/01/2026		D		8,010.138	D	$10.51(1)	0	I	Custodial Account 2

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/ Porsche A. Saunders	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 activity did UBFO’s SVP Porsche A. Saunders report?

Porsche A. Saunders reported disposing of all United Security Bancshares common stock holdings. The filing shows issuer-related dispositions tied to a completed merger and a separate tax-withholding transaction related to equity compensation, rather than open-market buying or selling activity.

How many UBFO shares did the SVP dispose of in the merger?

The SVP disposed of 48,608.806 directly held shares and 8,010.138 indirectly held shares. These dispositions occurred as part of the merger process with Community West Bancshares, where United Security shares were exchanged for Community West common stock under predefined merger terms.

What were UBFO shareholders entitled to receive in the Community West merger?

Each United Security Bancshares common share, except excluded and dissenting shares, was converted into the right to receive 0.4520 share of Community West Bancshares common stock. This stock-for-stock exchange ratio defines the merger consideration for former United Security common shareholders.

When did the United Security and Community West 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, United Security merged into Community West, which remained as the surviving entity following completion of the transaction.

What does the tax-withholding transaction in the UBFO Form 4 represent?

The tax-withholding entry reflects 13,389 shares disposed at a reported price of $0.00 per share. This disposition covered tax obligations related to equity compensation and did not represent an open-market sale, but rather a routine, non-cash settlement mechanism with the issuer.

How did the merger affect unvested restricted stock awards at UBFO?

The footnote states that each outstanding unvested United Security restricted stock award vested fully at the merger’s effective time. Once vested, these awards became entitled to the same 0.4520-per-share merger consideration in Community West common stock as other eligible United Security shares.