United Security (UBFO) director disposes shares, options in Community West merger

Rhea-AI Filing 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.

Insights

Banking equity analyst

Director’s Form 4/A reflects merger-driven clean-up of United Security equity, not open-market trading.

The filing shows director Nabeel Mahmood disposing of 23,556.883 common shares and 15,000 stock options in connection with United Security Bancshares’ merger into Community West Bancshares. These are issuer dispositions tied to the merger structure, not discretionary market sales or purchases.

Each United Security share converted into 0.4520 Community West share, while stock options were converted into a right to receive any value above a $10.29 reference price based on a 20-day VWAP ending March 27, 2026. Since the reporting person’s post-transaction United Security holdings are zero, future ownership will be reflected in Community West securities rather than United Security stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Mahmood Nabeel

Role Director

Type	Security	Shares	Price	Value
Disposition	Stock Options	15,000	$0.00	--
Disposition	Common Stock	23,556.883	$0.00	--

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

Footnotes (1)

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, 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"); (ii) 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).

Key Figures

Common shares disposed: 23,556.883 shares Stock options disposed: 15,000 options Option exercise price: $11.05 per share +3 more

6 metrics

Common shares disposed 23,556.883 shares Issuer disposition at merger effective time on April 1, 2026

Stock options disposed 15,000 options United Security Bancshares options surrendered to issuer in merger

Option exercise price $11.05 per share Exercise price for 15,000 United Security stock options

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

VWAP reference price $10.29 20-day VWAP ending March 27, 2026 for option treatment

Post-transaction UBFO holdings 0 shares/options Total United Security equity reported after merger-related dispositions

Key Terms

Agreement and Plan of Merger, Merger Consideration, 20 day VWAP, Disposition to issuer

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.

20 day VWAP financial

"exceeded $10.29 (20 day VWAP ending 3/27/2026)."

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

X

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^*

Mahmood Nabeel

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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)
04/03/2026

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		23,556.883	D	$0(1)	0	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
Stock Options	$11.05	04/01/2026		D			15,000	12/19/2018	12/19/2027	Common Stock	15,000	(2)	0	D

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, 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"); (ii) each outstanding unvested Company restricted stock award automatically vested in full and became entitled to the Merger Consideration.

2. 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).

Remarks:

This amendment to the Reporting Person's Form 4 filed on April 3, 2026, is being filed to (i) clarify that the Reporting Person is no longer subject to Section 16 reporting with respect to the Company, (ii) correct the disposition price of shares of Company common stock, and (iii) make clarifying changes to footnote (1).

	/s/ Nabeel Mahmood	04/13/2026
	** 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 did United Security Bancshares (UBFO) director Nabeel Mahmood report in this Form 4/A?

He reported disposing of his remaining United Security Bancshares equity in connection with the merger into Community West Bancshares. This included 23,556.883 shares of common stock and 15,000 stock options, all treated as issuer dispositions tied to the merger terms.

How were United Security Bancshares (UBFO) common shares treated in the Community West merger?

Each share of United Security Bancshares common stock, other than excluded and dissenting shares, was converted into the right to receive 0.4520 of a share of Community West Bancshares common stock as merger consideration once the merger became effective on April 1, 2026.

What happened to United Security Bancshares (UBFO) restricted stock awards in the merger?

At the effective time of the merger, every outstanding unvested United Security Bancshares restricted stock award automatically vested in full. Each vested award became entitled to receive the same merger consideration of 0.4520 Community West Bancshares share per underlying United Security share.

How were United Security Bancshares (UBFO) stock options handled for the reporting person?

Under the merger agreement, each of the reporting person’s United Security Bancshares stock options was converted into the right to receive any amount by which the option’s price exceeded a reference price of $10.29, based on a 20-day volume-weighted average price ending March 27, 2026.

Does this United Security Bancshares (UBFO) Form 4/A show open-market buying or selling?

No. The transactions are coded as dispositions to the issuer linked to the merger with Community West Bancshares. They reflect the conversion and cancellation mechanics of the merger agreement, rather than open-market purchases or sales initiated by the director.