United Security (UBFO) CEO stock converted in Community West merger deal

Rhea-AI Filing 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.

Insights

Equity compensation and M&A specialist

CEO’s reported share disposals are merger-driven and not open‑market selling.

The filing shows Dennis R. Woods’ United Security Bancshares common shares were disposed of as part of the company’s merger into Community West Bancshares. Shares held directly and in trusts were converted into the contractual stock consideration at a fixed 0.4520 Community West share per United Security share.

The D-code entries reflect a disposition to the issuer tied to the merger closing, while the F-code entry represents 10,644 shares delivered to cover tax liabilities, a mechanistic step rather than a market sale. The filing indicates no remaining United Security shares after these transactions; future economic exposure continues through the received Community West shares.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider WOODS DENNIS R

Role CEO

Type	Security	Shares	Price	Value
Disposition	Common Stock	230,202	$0.00	--
Disposition	Common Stock	946,011	$0.00	--
Tax Withholding	Common Stock	10,644	$0.00	--

Holdings After Transaction: Common Stock — 0 shares (Direct); Common Stock — 0 shares (Indirect, TRUSTEES)

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. Represents shares held by Mr. Woods directly. For disclosure purposes only. Shares held in various trusts where Mr. Woods serves as the trustee with voting power over shares.

Key Figures

Direct shares disposed: 230,202 shares Trust shares disposed: 946,011 shares Tax-withholding shares: 10,644 shares +2 more

5 metrics

Direct shares disposed 230,202 shares Common Stock, disposition to issuer on April 1, 2026

Trust shares disposed 946,011 shares Common Stock held in various trusts, disposition to issuer on April 1, 2026

Tax-withholding shares 10,644 shares Common Stock delivered to satisfy tax liability on March 24, 2026

Exchange ratio 0.4520 share Community West common stock per United Security share as merger consideration

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

Key Terms

Agreement and Plan of Merger, Merger Consideration, restricted stock award, tax-withholding disposition, +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.

tax-withholding disposition financial

"transaction_action": "tax-withholding disposition""

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.

dissenting shares regulatory

"each share of Company common stock, other than excluded shares and dissenting shares, was converted"

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.

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^*

WOODS DENNIS R

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

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)
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		230,202	D	$0(1)	0	D(2)
Common Stock	03/24/2026		F		10,644	D	$0	0	I(3)	TRUSTEES(3)
Common Stock	04/01/2026		D		946,011	D	$0	0	I(3)	TRUSTEES(3)

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, 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. Represents shares held by Mr. Woods directly. For disclosure purposes only.

3. Shares held in various trusts where Mr. Woods serves as the trustee with voting power over shares.

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/ DENNIS R WOODS	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 UNITED SECURITY BANCSHARES (UBFO) CEO Dennis Woods report?

Dennis Woods reported disposing of United Security common stock in connection with its merger into Community West Bancshares. Shares held directly and in trusts were transferred to the issuer and converted into Community West stock under the agreed 0.4520-for-1 share exchange ratio.

How many UNITED SECURITY BANCSHARES shares did Dennis Woods dispose of directly and indirectly?

The filing shows 230,202 United Security common shares held directly by Dennis Woods and 946,011 shares held in various trusts where he serves as trustee were disposed of. All were tied to the merger transaction with Community West Bancshares rather than open‑market trading activity.

What was the merger consideration for UNITED SECURITY BANCSHARES shareholders in this Form 4/A?

Each United Security common share, other than excluded and dissenting shares, was converted into the right to receive 0.4520 of a Community West Bancshares common share. This all‑stock consideration applied to both regular shares and vested restricted stock awards at the merger’s effective time.

When did the UNITED SECURITY BANCSHARES and Community West Bancshares merger become effective?

The merger of United Security Bancshares into Community West Bancshares became effective at 12:01 a.m. on April 1, 2026. At that time, United Security ceased as a separate entity and its eligible common shares automatically converted into the contractual Community West stock consideration.

What does the F-code tax-withholding transaction in the UBFO Form 4/A represent?

The F-code transaction reflects 10,644 United Security shares, held indirectly in trusts, delivered to satisfy tax liabilities. This occurred in connection with restricted stock vesting and receipt of merger consideration, and represents a tax-withholding disposition rather than an open-market sale of shares.

Did Dennis Woods retain any UNITED SECURITY BANCSHARES shares after these transactions?

The reported transactions list zero United Security common shares following each disposition entry. This indicates his reported United Security holdings, both direct and in the referenced trusts, were fully converted or used for tax-withholding as part of the merger into Community West Bancshares.