CAVALLA STANLEY J 4/A
4/A · UNITED SECURITY BANCSHARES · Filed Apr 13, 2026
Research Summary
AI-generated summary of this filing
United Security (UBFO) Director Stanley J. Cavalla Sells Shares in Merger
What Happened
Stanley J. Cavalla, a director of United Security Bancshares (UBFO), recorded dispositions of 679,723 shares on April 1, 2026 (679,453 + 270). The Form 4 shows a $0.00 per-share disposition (total $0) because the shares were converted under the companies' merger agreement into Community West Bancshares stock rather than sold for cash.
Key Details
- Transaction date: April 1, 2026. Transaction code: D (Disposition to issuer in connection with merger).
- Shares disposed: 679,453 and 270 (total 679,723). Disposition price reported: $0.00 per share; total proceeds $0 per the Form 4.
- Merger terms: each United Security share (other than excluded/dissenting shares) converted into the right to receive 0.4520 shares of Community West common stock; outstanding unvested restricted awards vested and were converted.
- Filing: Amended Form 4 filed April 13, 2026 to correct the disposition price, clarify footnote details, and note the reporting person is no longer subject to Section 16 reporting for United Security. The original Form 4 was filed April 3; this is a corrective amendment.
- Shares owned after transaction: not reported on this amended filing; the amendment notes the reporting person is no longer subject to Section 16 reporting for the company following the merger.
Context
This was not an open-market sale for cash but a merger conversion—shareholders received Community West stock per the merger agreement. Such dispositions tied to corporate transactions are procedural and reflect the deal mechanics rather than an insider selling shares for liquidity.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1]2026-04-01−679,453→ 0 total - Disposition to Issuer
Common Stock
[F1]2026-04-01−270→ 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, 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.