4//SEC Filing
STOVESAND KIRK 4
Accession 0001628280-24-015202
CIK 0001127371other
Filed
Apr 7, 8:00 PM ET
Accepted
Apr 8, 3:15 PM ET
Size
9.8 KB
Accession
0001628280-24-015202
Insider Transaction Report
Form 4
STOVESAND KIRK
Director
Transactions
- Award
CWBC - Common Stock
2024-04-01+67,983→ 68,983 total - Award
CWBC - Stock Option
2024-04-01+2,370→ 6,320 totalExercise: $14.85From: 2024-04-01Exp: 2028-10-25→ CWBC - Common Stock (2,370 underlying) - Award
CWBC - Stock Option
2024-04-01+3,950→ 3,950 totalExercise: $13.08From: 2024-04-01Exp: 2027-08-24→ CWBC - Common Stock (3,950 underlying)
Footnotes (2)
- [F1]Received 67,983 shares in exchange for 86,054 shares of Community West Bancshares common stock in connection with the merger of Community West Bancshares with and into Central Valley Community Bancorp, (the "Merger") based on the exchange ratio of 0.79 shares of CVCY common stock for each share of Community West Bancshares common stock. On the effective date of the Merger, the closing price of Central Valley Community Bancorp common stock was $19.89 per share. In connection with the merger, the name of Central Valley Community Bancorp was changed to Community West Bancshares and the NASDAQ trading symbol was changed to CWBC.
- [F2]Each stock option was issued in substitution for a stock option issued by the Community West Bancshares for a number of shares of Central Valley common stock at an exercise price, both adjusted for the merger consideration. Based on the closing stock price of Central Valley as of March 28, 2024 ($19.89 per share of Central Valley common stock), the value of the merger consideration was $15.71 ($19.89 * $ 0.79). The exercise price was further adjusted as required by sections 409A and 424 of the Internal Revenue Code.
Documents
Issuer
Community West Bancshares
CIK 0001127371
Entity typeother
Related Parties
1- filerCIK 0001234321
Filing Metadata
- Form type
- 4
- Filed
- Apr 7, 8:00 PM ET
- Accepted
- Apr 8, 3:15 PM ET
- Size
- 9.8 KB