United Security (NASDAQ: UBFO) director’s trust shares converted in bank merger

Rhea-AI Filing 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.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider GILL JAGROOP

Role Director

Type	Security	Shares	Price	Value
Disposition	Common Stock	376.74	$0.00	--
Disposition	Common Stock	1,286,470	$0.00	--

Holdings After Transaction: Common Stock — 0 shares (Indirect, TRust)

Footnotes (1)

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Key Figures

Trust disposition 1: 376.7400 shares Trust disposition 2: 1,286,470.0000 shares Post-transaction holdings: 0.0000 shares +2 more

5 metrics

Trust disposition 1 376.7400 shares Indirect common stock disposition on April 1, 2026

Trust disposition 2 1,286,470.0000 shares Indirect common stock disposition on April 1, 2026

Post-transaction holdings 0.0000 shares Total United Security common stock after dispositions

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

Merger effective time 12:01 a.m. April 1, 2026 Time merger of United Security into Community West 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.

surviving entity regulatory

"providing for the Company to merge with and into Community West with Community West being the surviving entity"

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^*

GILL JAGROOP

(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		376.74	D	$0(1)	0	I	TRust
Common Stock	04/01/2026		D		1,286,470	D	$0(1)	0	I	Tr

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:

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/ JAGROOP GILL	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 insider transaction did UBFO director Jagroop Gill report on this Form 4/A?

The filing reports that Jagroop Gill indirectly disposed of his United Security Bancshares common shares. The disposition was to the issuer in connection with a merger, rather than an open-market sale, and reduced his reported indirect holdings to zero.

Was the UBFO Form 4/A insider transaction an open-market sale of shares?

No. The disposition was coded “D” as a disposition to issuer tied to a merger. Shares were effectively converted into the right to receive Community West Bancshares stock under the merger terms, not sold on the open market for cash.

How many United Security Bancshares shares were disposed of in the UBFO Form 4/A?

The report shows two indirect trust dispositions of common stock, one for 376.7400 shares and another for 1,286,470.0000 shares. After these transactions, total shares of United Security common stock reported as held following the transactions were zero.

What were United Security Bancshares shareholders entitled to receive in the merger?

At the effective time of the merger, each eligible United Security common share was converted into the right to receive 0.4520 of a Community West Bancshares common share. Outstanding unvested United Security restricted stock awards fully vested and also became entitled to receive this merger consideration.

When did the United Security Bancshares and Community West Bancshares merger become effective?

The merger became effective at 12:01 a.m. on April 1, 2026. At that effective time, United Security merged with and into Community West Bancshares, with Community West as the surviving entity, and the share conversion and award vesting terms took effect.