NEWBY KENNETH D 4

What Happened Kenneth D. Newby, a director of United Security Bancshares (UBFO), disposed of two blocks of Company stock on April 1, 2026: 39,953.899 shares for $10.51 each ($419,915) and 14,911.158 shares for $10.51 each ($156,716), totaling 54,865.057 shares and $576,631 in reported proceeds. The dispositions are reported as "Disposition to the issuer (D)" and occurred as part of the merger with Community West Bancshares.

Key Details

• Transaction date: April 1, 2026; reported price: $10.51 per share.
• Quantities/proceeds: 39,953.899 shares ($419,915) and 14,911.158 shares ($156,716); total 54,865.057 shares / $576,631.
• Transaction type: Disposition to issuer (D) pursuant to the Merger Agreement (see below).
• Footnote F1: Disposed pursuant to the Merger Agreement dated Dec 16, 2025 — merger became effective 12:01 a.m. April 1, 2026; each UBFO share (other than excluded/dissenting shares) converted into the right to receive 0.4520 shares of Community West; outstanding unvested restricted awards vested and became entitled to the merger consideration.
• Footnote F2: One block involved shares held in an IRA of which Mr. Newby is the owner (disclosed for completeness).
• Filing/Timeliness: Form 4 filed April 3, 2026 for an April 1 transaction — appears timely (within the SEC’s 2-business-day window).
• Shares owned after transaction: Not specified in the provided filing.

Context These disposals were merger-related (surrender/conversion under the Merger Agreement) rather than open-market sales, so they reflect the corporate transaction mechanics rather than a typical insider sale for liquidity. For retail investors, merger-driven dispositions are routine — they convert prior holdings into the merger consideration (here, Community West stock at a 0.4520 ratio) and do not by themselves indicate the director’s view on the stock.