OBERG ROBERT C JR 4/A
4/A · UNITED SECURITY BANCSHARES · Filed Apr 13, 2026
Research Summary
AI-generated summary of this filing
United Security (UBFO) SVP Robert C. Oberg Jr Sells 29,469 Shares
What Happened
Robert C. Oberg Jr., Senior Vice President & Chief Risk Officer of United Security Bancshares (UBFO), had 29,469.392 shares of UBFO disposed to the issuer on April 1, 2026 in connection with the Company’s merger into Community West Bancshares. The filing reports a disposition price of $0.00 because each UBFO share was converted into the right to receive 0.4520 shares of Community West common stock (the “Merger Consideration”); no cash proceeds from this transaction were reported. The filing is an amendment clarifying reporting status and correcting the disposition price.
Key Details
- Transaction date: 2026-04-01 (Merger became effective at 12:01 a.m. on April 1, 2026)
- Transaction type: Disposition to issuer under Merger Agreement (reported as a sale/disposition)
- Shares disposed: 29,469.392 UBFO shares; price reported $0.00 (converted to Community West stock at 0.4520 per share)
- Shares owned after transaction: Not reported for UBFO; post-merger UBFO shares converted into Community West shares (reporting person no longer subject to Section 16 reporting for UBFO)
- Footnotes: F1 explains disposition pursuant to the Merger Agreement and that unvested restricted stock awards vested and became entitled to the Merger Consideration. F2 is for disclosure only.
- Filing status: This is an amended Form 4 filed April 13, 2026, correcting the disposition price and clarifying that the reporting person is no longer subject to Section 16 reporting for the company.
Context
This was not an open-market sale but a corporate action: UBFO merged into Community West, and holders received Community West shares per the stated exchange ratio. Such merger-related conversions are routine consequences of the deal and do not, by themselves, indicate insider buying or selling based on sentiment.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2]2026-04-01−29,469.392→ 0 total
Footnotes (2)
- [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.
- [F2]For disclosure purposes only.