[Form 4/A] UNITED SECURITY BANCSHARES Amended Insider Trading Activity
Rhea-AI Filing 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.
Positive
- None.
Negative
- None.
Insights
Director’s share disposition reflects merger mechanics, not an open‑market sale.
The filing shows Kenneth D. Newby, a director of United Security Bancshares, disposing of his common shares back to the issuer as part of a completed merger into Community West Bancshares. Consideration is paid in Community West stock via a fixed 0.4520-for-1 exchange ratio.
This is a structural change rather than a discretionary trade, so it carries limited signaling value about Newby’s view of the stock. The filing also notes that all unvested restricted stock awards vested and became entitled to the same merger consideration when the merger became effective at 12:01 a.m. on April 1, 2026.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 39,953.899 | $0.00 | -- |
| Disposition | Common Stock | 14,911.158 | $0.00 | -- |
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. Shares held in IRA where Mr. Newby is the owner. Provided for disclosure purposes only.