ELLITHORPE G THOMPSON 4

What Happened

• Ellithorpe G. Thompson, a director of United Security Bancshares (UBFO), reported dispositions on April 1, 2026: 89,011.834 shares at $10.51 each ($935,514) and 98,420 shares at $10.51 each ($1,034,394), totaling 187,431.834 shares and $1,969,908.
• These were dispositions to the issuer pursuant to the Agreement and Plan of Merger with Community West Bancshares that became effective at 12:01 a.m. on April 1, 2026 — not open-market sales. Under the merger, each UBFO share converted into the right to receive 0.4520 shares of Community West; outstanding unvested restricted stock awards vested and became entitled to the merger consideration.

Key Details

• Transaction date: 2026-04-01; reported on Form 4 filed 2026-04-03 (appears timely).
• Price reported: $10.51 per share; proceeds of the two dispositions: $935,514 and $1,034,394 (total $1,969,908).
• Shares disposed: 89,011.834 and 98,420 (total 187,431.834).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: Dispositions were pursuant to the Merger Agreement (conversion to Community West shares at 0.4520 per UBFO share; unvested awards vested).
• Transaction type: D (Disposition to issuer as part of merger), not a standard open-market sale.

Context

• Because these shares were disposed under the merger agreement, this filing does not necessarily reflect a director’s view of the stock as a buy/sell signal the way an open-market trade might. Purchases tend to be more informative of insider sentiment; this was a corporate transaction converting UBFO equity into merger consideration.