4//SEC Filing
Raffo Christopher Raymond 4
Accession 0001140361-24-018420
CIK 0001051343other
Filed
Apr 4, 8:00 PM ET
Accepted
Apr 5, 6:11 PM ET
Size
8.3 KB
Accession
0001140361-24-018420
Insider Transaction Report
Form 4
Raffo Christopher Raymond
Director
Transactions
- Disposition to Issuer
Stock Option
2024-04-01−20,000→ 0 totalExercise: $0.00From: 2025-04-01→ Common Stock (20,000 underlying) - Disposition to Issuer
Common Stock
2024-04-01$15.71/sh−1,739$27,320→ 0 total
Footnotes (3)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger, dated as of October 10, 2023 (the "Merger Agreement"), by and between Central Valley Community Bancorp ("Central Valley") and Community West Bancshares (the "Company"), providing for the Company to merge (the "Merger") with and into Central Valley with Central Valley being the surviving entity. The Merger became effective at 12:01 a.m. on April 1, 2024 (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 0.79 of a share of common stock of Central Valley, with cash to be paid in lieu of any fractional shares of common stock of Central Valley (the "Merger Consideration"); (to be continued).
- [F2](Continued from Footnote (1)) (ii) each outstanding unvested Company restricted stock award automatically vested in full and became entitled to the Merger Consideration; and (iii) each outstanding unvested Company stock option automatically vested in full, and each outstanding stock option was substituted for a stock option issued by Central Valley for the right to receive a number of shares of Central Valley's common stock at an exercise price, both adjusted for the Merger Consideration. Based on the closing stock price of Central Valley as of March 28, 2024, or $19.89 per share of Central Valley common stock), the value of the Merger Consideration was $15.71 ($19.89 * $ 0.79). Also as of April 1, 2024, Central Valley changed its corporate name to Community West Bancshares.
- [F3]Pursuant to an option agreement with Philip J. Timyan which expires 1 year after the date he ceases to be a director of CWBC.
Documents
Issuer
COMMUNITY WEST BANCSHARES /
CIK 0001051343
Entity typeother
Related Parties
1- filerCIK 0001820844
Filing Metadata
- Form type
- 4
- Filed
- Apr 4, 8:00 PM ET
- Accepted
- Apr 5, 6:11 PM ET
- Size
- 8.3 KB