Kinross David A 4

What Happened

• David A. Kinross, Chief Financial Officer of United Security Bancshares (UBFO), reported dispositions related to the company's merger. On 2026-04-01 he disposed of 95,733 shares at $10.51 each for proceeds of $1,006,154. Earlier, on 2026-03-24, 28,236 shares were surrendered with an $0.00 per-share value to cover tax liabilities (reported with code F).
• These transactions are recorded as dispositions (codes D and F) and reflect merger-related actions rather than an open-market sale initiated for investment reasons.

Key Details

• Transaction dates/prices:
  • 2026-03-24: 28,236 shares surrendered for tax withholding (Code F), $0.00 per share (no proceeds).
  • 2026-04-01: 95,733 shares disposed to the issuer (Code D) at $10.51 per share = $1,006,154.
• Filing: Form 4 filed 2026-04-03 (appears timely given the 4/01 disposition).
• Shares owned after the reported transactions: not specified in the filing.
• Footnote: Dispositions were pursuant to the Agreement and Plan of Merger 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 Community West Bancshares share. Outstanding unvested restricted stock awards vested and then received the merger consideration.

Context

• Code F typically means shares were surrendered to satisfy tax withholding (not an open-market sale). Code D denotes disposition to the issuer (common in mergers/closing transactions).
• Because these actions were tied to the merger, they should be viewed as corporate-transaction driven rather than a personal investment signal by the CFO.