United Security (UBFO) director logs merger-driven stock and option disposals
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing 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.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Tkacz Brian
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options | 15,000 | $0.00 | -- |
| Disposition | Common Stock | 16,871 | $0.00 | -- |
Holdings After Transaction:
Stock Options — 0 shares (Direct);
Common Stock — 0 shares (Direct)
Footnotes (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: 16,871 shares
Exchange ratio: 0.4520 shares
Stock options disposed: 15,000 options
+2 more
5 metrics
Common shares disposed
16,871 shares
United Security common stock converted in merger on April 1, 2026
Exchange ratio
0.4520 shares
Community West shares per United Security share as Merger Consideration
Stock options disposed
15,000 options
United Security stock options held by Tkacz disposed to issuer
Option exercise price
$11.05 per share
Exercise price of disposed United Security stock options
VWAP reference price
$10.29
20-day VWAP ending March 27, 2026 for option settlement
Key Terms
Agreement and Plan of Merger, Merger Consideration, 20 day VWAP, 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 Consideration financial
"each share of Company common stock ... was converted into the right to receive 0.4520 ... (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)"
restricted stock award financial
"each outstanding unvested Company restricted stock award automatically vested in full"
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.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
