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United Sec Bancshares Calif Form 4 Filings

UBFO NASDAQ

Every Form 4 that United Sec Bancshares Calif (UBFO) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.

A Form 4 covers the transactions officers, directors and large holders report, so if you follow UBFO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UBFO filings page.

Rhea-AI Summary

United Security Bancshares executive Kevin J. Williams reported share dispositions tied to the company’s merger with Community West Bancshares. On April 1, 2026, he disposed of 49,575 shares of common stock back to the issuer in connection with the merger closing and share conversion.

Footnotes explain 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 of a Community West common share, and all unvested restricted stock awards fully vested and became entitled to this consideration. On March 24, 2026, Williams also had a total of 34,262 shares withheld as tax payments related to equity awards, reported as two separate tax-withholding dispositions.

Rhea-AI Summary

UNITED SECURITY BANCSHARES CEO and director Dennis R. Woods reported disposing of company common stock in connection with the completion of its merger into Community West Bancshares. On April 1, 2026, 230,202 shares held directly and 946,011 shares held in various trusts where he serves as trustee were transferred to the issuer as part of the merger. Under the merger terms, each share of United Security common stock (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a Community West common share as merger consideration, and all unvested restricted stock awards vested and became entitled to the same consideration. A separate Form 4 transaction shows 10,644 indirectly held shares disposed of to satisfy tax obligations by delivering shares, rather than through an open-market sale.

Rhea-AI Summary

United Security Bancshares senior vice president Porsche A. Saunders reported dispositions of company common stock in connection with the completion of its merger with Community West Bancshares. On April 1, 2026, shares were surrendered to the issuer and exchanged under the merger terms.

The filing shows 48,608.806 shares of common stock disposed of directly to the issuer and 8,010.138 shares disposed of indirectly from a custodial account. In a separate March 24, 2026 transaction, 13,389 shares were disposed of to cover tax obligations.

Under the merger agreement, each share of United Security common stock (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a share of Community West common stock, and all outstanding unvested restricted stock awards vested and became entitled to the same merger consideration.

Rhea-AI Summary

UNITED SECURITY BANCSHARES senior vice president and chief financial officer David A. Kinross reported indirect dispositions of common stock held as trustee, tied to the company’s merger into Community West Bancshares. The filing shows 95,733 shares disposed of to the issuer and 28,236 shares used to satisfy tax obligations, with these shares converted into merger consideration of Community West common stock at an exchange ratio of 0.4520 share of Community West stock for each United Security share. Following these merger-related transactions, the reported indirect holdings of United Security common stock as trustee are shown as zero.

Rhea-AI Summary

United Security Bancshares director Stanley J. Cavalla reported disposing of his entire stake in the company’s common stock as part of its merger into Community West Bancshares. On April 1, 2026, he relinquished 679,453 directly held shares and 270 indirectly held trust shares to the issuer at $0.00 per share. Under the merger terms effective at 12:01 a.m. that day, each United Security share (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a share of Community West common stock, and all unvested restricted stock awards vested and became entitled to the same stock consideration.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Brian Tkacz reported dispositions tied to the completion of the company’s merger with Community West Bancshares. On April 1, 2026, all 16,871 shares of United Security common stock he held were disposed of in the merger and converted into the right to receive 0.4520 shares of Community West common stock per United Security share under the merger terms.

On the same date, 15,000 United Security stock options with an exercise price of $11.05 were disposed of to the issuer. Under the merger agreement, each stock option was converted into the right to receive any value above $10.29, the 20‑day volume‑weighted average price ending March 27, 2026. Following these transactions, no United Security common shares or options are shown as held by Tkacz in this filing.

Rhea-AI Summary

United Security Bancshares director Heather Hammack reported merger-related dispositions of both common shares and stock options. On April 1, 2026, in connection with the Company’s merger into Community West Bancshares, she disposed of 16,398 shares of United Security common stock and 15,000 stock options back to the issuer. Under the Merger Agreement, each United Security share was converted into the right to receive 0.4520 of a Community West common share, and unvested restricted stock awards became fully vested and entitled to the same consideration. Her reported holdings of these securities were reduced to zero following the transactions.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Kenneth D. Newby disposed of his shares in connection with a merger into Community West Bancshares. On April 1, 2026, he surrendered 39,953.899 directly held and 14,911.158 IRA-held shares of United Security common stock back to the issuer.

These dispositions occurred under a merger agreement where 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, and all unvested restricted stock awards vested and became entitled to the same merger consideration.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Susan Quigley reported disposing of her shares and options in connection with the company’s merger into Community West Bancshares. On April 1, 2026, she surrendered 24,887 shares of common stock and 15,000 stock options back to the issuer as part of the merger closing.

The merger became effective at 12:01 a.m. on April 1, 2026. Under the merger terms, each share of United Security common stock, other than excluded and dissenting shares, was converted into the right to receive 0.4520 of a share of Community West common stock as merger consideration. Each outstanding unvested restricted stock award also vested in full and became entitled to the same stock consideration.

According to the filing, each of Quigley’s stock options was converted into the right to receive any amount by which the option’s exercise price exceeded $10.29, which was the 20-day volume-weighted average price of Community West’s stock ending March 27, 2026. After these issuer dispositions, the reported holdings for these positions were shown as zero.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Dora Westerlund reported disposing of her equity stake as part of the company’s merger with Community West Bancshares. On April 1, 2026, she returned 18,770 shares of common stock and 15,000 stock options to the issuer, leaving no reported remaining holdings.

Under the Merger Agreement, each share of United Security common stock was converted into the right to receive 0.4520 share of Community West common stock. Unvested restricted stock awards vested in full and became entitled to the same merger consideration. Her stock options, with an exercise price of $8.17, were converted into a cash right based on the amount, if any, by which the option price exceeded $10.29, the 20‑day VWAP ending March 27, 2026.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director G. Thompson Ellithorpe reported disposing of his common stock in connection with the company’s merger into Community West Bancshares. The merger became effective at 12:01 a.m. on April 1, 2026 under a previously signed Agreement and Plan of Merger.

The filing shows 89,011.834 shares of United Security Bancshares common stock held directly and 98,420 shares held indirectly as trustee were disposed of to the issuer as part of the merger. Each share of company common stock, other than excluded and dissenting shares, was converted into the right to receive 0.4520 of a share of Community West common stock, and outstanding unvested restricted stock awards vested and became entitled to the same merger consideration.

Rhea-AI Summary

UNITED SECURITY BANCSHARES Senior Vice President and Chief Risk Officer Robert C. Oberg Jr. reported a disposition of company common stock tied to the company’s merger with Community West Bancshares. On April 1, 2026, 29,469.392 shares of company common stock were surrendered to the issuer.

According to the merger agreement, at 12:01 a.m. on April 1, 2026, each share of company common stock (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a share of Community West common stock as merger consideration. The filing also notes that each outstanding unvested company restricted stock award automatically vested in full and became entitled to the same merger consideration. Following this conversion, Oberg reported no remaining directly held shares of UNITED SECURITY BANCSHARES common stock.

Rhea-AI Summary

United Security Bancshares senior vice president and chief credit officer William M. Yarbenet disposed of 75,475.0400 shares of common stock in a transaction coded as a disposition to the issuer. The shares were converted under a merger in which United Security merged into Community West Bancshares.

At 12:01 a.m. on April 1, 2026, each share of United Security common stock, other than excluded and dissenting shares, became entitled to receive 0.4520 of a Community West common share as merger consideration. All outstanding unvested United Security restricted stock awards vested in full and also became entitled to this same merger consideration, and Yarbenet’s reported direct holdings in United Security common stock fell to zero after the transaction.

Rhea-AI Summary

United Security Bancshares director Nabeel Mahmood reported disposing of all remaining company equity as part of its merger with Community West Bancshares. On April 1, 2026, 15,000 stock options and 23,556.883 shares of common stock were surrendered to the issuer in connection with the merger closing.

Under the merger terms, 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 unvested restricted stock awards vested and received the same consideration. The director’s stock options were converted into a right to receive any value by which the option price exceeded a reference price of $10.29, based on a 20-day volume-weighted average price.

Rhea-AI Summary

United Security Bancshares director Jagroop Gill reported an indirect disposition of all his shares as part of the company’s merger into Community West Bancshares. Two indirect trust holdings of common stock, totaling more than 1.28 million shares, were returned to the issuer for no cash consideration.

The footnote explains that at 12:01 a.m. on April 1, 2026, each share of United Security common stock (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a Community West common share, and unvested restricted stock awards fully vested and became entitled to the same merger consideration.

Rhea-AI 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.

Rhea-AI 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.

Rhea-AI Summary

UNITED SECURITY BANCSHARES CEO Dennis R. Woods reported dispositions of his company stock in connection with the merger into Community West Bancshares. On April 1, 2026, 230,202 directly held shares and 946,011 shares held in trusts where he serves as trustee were disposed of to the issuer under the merger terms at $10.51 per share. The merger, effective at 12:01 a.m. on April 1, 2026, converted each United Security common share (other than excluded and dissenting shares) into the right to receive 0.4520 of a Community West common share as merger consideration. A prior March 24, 2026 transaction shows 10,644 indirectly held shares delivered to cover tax obligations, leaving 946,011 trust shares before the merger-related disposition.

Rhea-AI Summary

United Security Bancshares director Stanley J. Cavalla disposed of his shares as part of the company’s merger into Community West Bancshares. On April 1, 2026, 679,453 directly held shares and 270 trust-held shares of United Security common stock were surrendered to the issuer in exchange for Community West stock under a pre-agreed merger ratio of 0.4520 Community West shares for each United Security share. Following these issuer dispositions tied to the merger closing, Cavalla no longer held United Security common stock.

Rhea-AI Summary

United Security Bancshares senior vice president and chief risk officer Robert C. Oberg Jr. disposed of 29,469.392 shares of common stock back to the company at $10.51 per share. The disposition occurred on April 1, 2026 in connection with a merger into Community West Bancshares, where each United Security share was converted into the right to receive 0.4520 of a Community West common share. Following this transaction, Oberg Jr. held no United Security common stock.

Rhea-AI 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.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director G. Thompson Ellithorpe reported merger-related dispositions of all his shares. On April 1, 2026, a total of common stock held directly and as trustee was returned to the issuer in connection with the merger into Community West Bancshares.

Under the Agreement and Plan of Merger, each share of United Security common stock was converted into the right to receive 0.4520 of a Community West common share, and all outstanding unvested restricted stock awards vested and became entitled to the same merger consideration.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Brian Tkacz disposed of his equity in connection with the company’s merger into Community West Bancshares. On April 1, 2026 he returned 16,871 shares of common stock to the issuer at $10.51 per share and 15,000 stock options were disposed of to the issuer.

Under the Merger Agreement, each United Security common share (other than excluded and dissenting shares) was converted into the right to receive 0.4520 share of Community West common stock, and unvested restricted stock awards vested and became entitled to this merger consideration. At the effective time, each of Tkacz’s stock options was converted into a cash right based on the option terms and a $10.29 20‑day VWAP reference price.

Rhea-AI Summary

United Security Bancshares director Jagroop Gill reported disposing of indirect holdings of common stock in connection with the closing of the company’s merger into Community West Bancshares. Two trust-held positions totaling 4,114.742 shares and 1,286,470 shares of United Security common stock were reported as dispositions to the issuer at $10.5100 per share, leaving no remaining reported shares.

According to the merger agreement, effective at 12:01 a.m. on April 1, 2026, each share of United Security common stock (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a share of Community West common stock, and all outstanding unvested restricted stock awards fully vested and became entitled to the same stock consideration.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Heather Hammack reported disposing of her equity position in connection with the company’s merger into Community West Bancshares. At the effective time on April 1, 2026, each share of United Security common stock was converted into the right to receive 0.4520 of a Community West common share as merger consideration.

Hammack’s 16,398 shares of common stock were returned to the issuer at $10.51 per share, and her 15,000 stock options with an exercise price of $8.17 and expiration in 2032 were cancelled for any value above $10.29, the 20‑day VWAP ending March 27, 2026. Following these transactions, she reports zero directly held shares and options of UNITED SECURITY BANCSHARES.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Nabeel Mahmood reported disposing of his equity in connection with the company’s merger into Community West Bancshares. He surrendered 23,556.883 shares of common stock at $10.51 per share and 15,000 stock options back to the issuer.

Under the merger agreement, each United Security common share (other than excluded and dissenting shares) was converted into the right to receive 0.4520 of a share of Community West common stock, and unvested restricted stock awards vested and became entitled to this merger consideration. The filing shows Mahmood with zero United Security common shares and options remaining after these issuer dispositions.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Kenneth D. Newby reported disposing of his common stock in connection with the company’s merger into Community West Bancshares. On April 1, 2026, his directly held and IRA-held shares were surrendered to the issuer as part of the merger closing.

Under the merger terms, each United Security share, other than excluded and dissenting shares, was converted into the right to receive 0.4520 of a Community West common share, and all outstanding unvested restricted stock awards vested and received the same consideration.

Rhea-AI 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.

Rhea-AI 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.

Rhea-AI Summary

UNITED SECURITY BANCSHARES director Dora Westerlund reported disposing of her holdings in connection with the company’s merger into Community West Bancshares. She returned 18,770 shares of common stock to the issuer and also disposed of 15,000 stock options. Each share of United Security common stock was converted into the right to receive 0.4520 of a Community West common share as merger consideration. According to the filing, these transactions left her with no remaining United Security common shares or stock options following the merger’s effective time.

Rhea-AI Summary

UNITED SECURITY BANCSHARES SVP & Chief Risk Officer Robert C. Oberg Jr. exercised derivative rights to acquire 7,391 shares of common stock on 2026-03-24. To cover obligations related to this exercise, 3,036 shares were disposed of through tax withholding, a non-market transaction.

These transactions resulted in a net increase of 4,355 shares, bringing Oberg’s directly owned common stock holdings to 29,469.392 shares after the reported activity. The filing characterizes the acquisition as an exercise or conversion of a derivative security and the disposition as payment of tax liability using shares.

Rhea-AI Summary

United Security Bancshares insider activity: Senior Vice President and Chief Credit Officer William M. Yarbenet reported acquiring 2,785 shares of United Security Bancshares common stock on 01/27/2026 at a reported price of $0 per share. Following this transaction, he beneficially owns 75,475.04 shares, held directly.

Rhea-AI Summary

United Security Bancshares executive David A. Kinross, SVP & Chief Financial Officer, reported an acquisition of common stock through a trust-related holding. On January 27, 2026, an account for which he serves as Trustee acquired 2,872 shares of common stock at $0 per share.

Following this transaction, that indirect trust-related position holds 123,969 shares of United Security Bancshares common stock beneficially owned.

Rhea-AI Summary

United Security Bancshares senior vice president Porsche A. Saunders reported receiving additional company stock. On January 27, 2026, Saunders acquired 3,245 shares of common stock at a price of $0 per share, increasing her direct holdings to 61,997.806 shares.

Rhea-AI Summary

United Security Bancshares CEO Dennis R. Woods reported an indirect acquisition of 9,920 shares of common stock on January 27, 2026. The shares were acquired at a price of $0 and are held indirectly as “TRUSTEES.”

Following this transaction, indirect beneficial ownership rose to 956,655 shares of United Security Bancshares common stock.

Rhea-AI Summary

United Security Bancshares executive Kevin J. Williams reported an acquisition of company stock. As SVP/Chief Banking Officer, he received 2,837 shares of United Security Bancshares common stock on January 27, 2026 at a reported price of $0 per share. Following this transaction, he beneficially owns 83,837 shares held directly.

Rhea-AI Summary

United Security Bancshares reported insider stock purchases by its SVP & Chief Risk Officer. On 12/01/2025, the officer acquired 1,586 shares of common stock at $9.92 per share, increasing direct beneficial ownership to 22,324.734 shares. A second transaction that same day shows an additional 1,683 shares acquired at $9.92 per share, with direct beneficial ownership rising to 24,007.734 shares. The filing is made by a single reporting person and reflects non-derivative equity holdings; no derivative securities activity is reported.

Rhea-AI Summary

United Security Bancshares director reported routine share acquisitions of the company’s common stock, largely through a dividend reinvestment plan. On 08/04/2025, the director acquired 507.53 shares at $8.734 per share, bringing directly held shares to 39,462.143. On 10/30/2025, a further 491.756 shares were acquired at $9.138, increasing direct holdings to 39,953.899.

In an IRA account, the director acquired 195.075 shares on 07/22/2025 at $8.927, resulting in 14,712.561 shares held indirectly. Another IRA acquisition of 198.597 shares on 10/21/2025 at $8.89 brought indirect holdings to 14,911.158. The filing notes that the shares reported as acquisitions were obtained through a dividend reinvestment plan.

Rhea-AI Summary

United Security Bancshares (UBFO) reported insider share purchases by a senior executive through its dividend reinvestment plan. On 08/04/2025, the reporting person acquired 846.831 shares of common stock at $8.734 per share, bringing direct beneficial ownership to 71,869.529 shares. On 10/30/2025, the same executive acquired an additional 820.511 shares at $9.138 per share, increasing direct holdings to 72,690.04 shares. The filer is an officer of the company, serving as SVP & CCO, and reported no derivative security transactions.

Rhea-AI Summary

United Security Bancshares (UBFO) director reported an acquisition of common stock. On 10/28/2025, the reporting person acquired 2,804 shares at $0, noted as compensation for director fees.

After this transaction, the filer beneficially owned 98,420 shares, held indirectly in a trustee capacity.

Rhea-AI Summary

United Security Bancshares (UBFO) reported an insider transaction on Form 4. CEO and Director Dennis R. Woods acquired 1,308 shares of common stock on 10/28/2025 as compensation for director fees.

The shares were acquired at a stated price of $0. Following the transaction, Woods beneficially owned 946,735 shares on an indirect basis through trustees.

Rhea-AI Summary

United Security Bancshares (UBFO) reported an insider stock transaction. Director Dora Westerlund acquired 2,401 shares of common stock on 10/28/2025 at a $0 price, coded “A.” The filing explains this as compensation for director fees.

Following the grant, she beneficially owns 18,770 shares, held directly.

Rhea-AI Summary

United Security Bancshares (UBFO) — Form 4 insider update: A company director reported acquiring 1,599 shares of common stock on 10/28/2025 at a price of $0. The filing states this was compensation for director fees, a routine, non-cash equity grant. Following the transaction, the director’s directly held shares totaled 16,871.

Rhea-AI Summary

United Security Bancshares (UBFO) filed a Form 4 reporting that a director acquired common stock as part of board compensation. On 10/28/2025, the director acquired 1,840 shares of common stock at $0 per share, coded “A” for acquisition. The filing notes this was compensation for director fees.

Following the transaction, the director beneficially owns 24,887 shares, held directly. The report was filed by one reporting person and pertains to non-derivative securities.

Rhea-AI Summary

United Security Bancshares (UBFO) director reported a Form 4 transaction. On 10/28/2025, the director acquired 1,865 shares of common stock at $0 per share, noted as compensation for director fees.

Following this transaction, the director’s beneficial ownership stands at 38,954.613 shares, held directly. The transaction was coded “A” (acquired) and reflects non-derivative common stock.

Rhea-AI Summary

United Security Bancshares (UBFO) reported an insider transaction on a Form 4. Director Nabeel Mahmood acquired 2,333 shares of common stock on 10/28/2025 at a price of $0. The filing notes this was compensation for director fees.

Following the transaction, the director beneficially owned 22,756.682 shares, held directly.

Rhea-AI Summary

United Security Bancshares (UBFO) filed a Form 4 reporting that a director acquired 1,551 shares of common stock on Oct 28, 2025 at $0. The filing states this was compensation for director fees, and the director’s direct holdings rose to 16,398 shares following the transaction.

Rhea-AI Summary

United Security Bancshares (UBFO) reported an insider transaction by director Jagroop Gill. On 10/28/2025, the filer acquired 1,385 shares of common stock (transaction code A) at a price of $0. After this transaction, beneficial ownership is 1,286,470 shares, reported as Indirect (I) with the nature of ownership noted as "Tr". The filing was made by one reporting person.

Rhea-AI Summary

United Security Bancshares (UBFO) reported an insider transaction by a director. On 10/28/2025, the director acquired 1,340 shares of common stock at $0 as compensation for director fees. Following the transaction, the director directly beneficially owns 679,453 shares. The filing indicates it was submitted by one reporting person.

Rhea-AI Summary

Kevin J. Williams, Senior Vice President and Chief Banking Officer of United Security Bancshares (UBFO), was granted 81,000 shares of restricted common stock on 09/23/2025 under the 2025 Equity Incentive Award Plan. The grant had a market value of $782,460 based on the closing price of $9.66 that day. Restrictions on the shares lapse over ten years. Following the transaction Mr. Williams beneficially owned 81,000 shares directly.