CAVALLA STANLEY J 4
4 · UNITED SECURITY BANCSHARES · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
United Security Bancshares (UBFO) Director Stanley J. Cavalla Sells Shares
What Happened Stanley J. Cavalla, a director of United Security Bancshares (UBFO), disposed of a total of 679,723 shares on April 1, 2026. The filing shows two dispositions to the issuer: 679,453 shares at $10.51 each ($7,141,051) and 270 shares at $10.51 each ($2,838), for combined proceeds of $7,143,889. These were dispositions (sales) recorded in connection with the company’s merger into Community West, not open-market sales.
Key Details
- Transaction date: April 1, 2026; Price: $10.51 per share.
- Shares disposed: 679,453 and 270 (total 679,723); Total reported proceeds: $7,143,889.
- Shares owned after transaction: Not specified in this Form 4 filing.
- Footnote: Dispositions were pursuant to the Merger Agreement dated December 16, 2025; the merger became effective at 12:01 a.m. on April 1, 2026. Each United Security share (other than excluded/dissenting shares) was converted into the right to receive 0.4520 of a share of Community West; outstanding unvested restricted stock awards vested and were entitled to the merger consideration.
- Filing timeliness: Form 4 filed April 3, 2026 for transactions on April 1, 2026 — no late-file flag in the filing.
Context These disposals reflect a corporate change-of-control transaction (merger) rather than routine insider selling. Under the merger terms, United Security shares were converted into merger consideration (Community West stock at a 0.4520 exchange ratio), so the Form 4 reports the conversion/disposition mechanics. Such merger-driven dispositions are administrative outcomes of the deal and do not necessarily signal the insider’s view on the stock.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1]2026-04-01$10.51/sh−679,453$7,141,051→ 0 total - Disposition to Issuer
Common Stock
[F1]2026-04-01$10.51/sh−270$2,838→ 0 total(indirect: By Trust)
Footnotes (1)
- [F1]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.