GILL JAGROOP 4
4 · Community West Bancshares · Filed Apr 9, 2026
Research Summary
AI-generated summary of this filing
Community West Bancshares (CWBC) Director Jagroop Gill Receives 583,067 Shares
What Happened
Director Jagroop Gill was credited with 583,067 shares of Community West Bancshares (CWBC) on April 1, 2026. The Form 4 reports these shares at $0.00 per share because they were issued in connection with a merger conversion (not purchased on the open market).
Key Details
- Transaction date and price: April 1, 2026; 583,067 shares at $0.00 per share (code A — award/acquisition).
- Filing date: Form 4 filed April 9, 2026. (Note: Form 4s are generally due within 2 business days of the reportable transaction; this filing date is eight days after the transaction date — check the filing for any late-filing designation.)
- Shares owned after transaction: Not specified in the provided excerpt of the filing.
- Footnote summary: The shares were issued under the Agreement and Plan of Merger dated Dec 16, 2025, between Community West Bancshares and United Security Bancshares. Each USB share converted into 0.4520 CWB shares, with cash paid in lieu of fractional shares; the reporting person received CWB stock in exchange for their USB shares.
Context
This was a non-market acquisition of stock as merger consideration, not a purchase signal or sale. The $0.00 price reflects an exchange/conversion accounting entry rather than a monetary purchase; cash was paid for any fractional-share amounts. Such merger-based issuances typically reflect corporate transaction mechanics rather than an insider expressing a buy/sell preference.
Insider Transaction Report
- Award
CWBC - Common Stock
[F1]2026-04-01+583,067→ 583,067 total
Footnotes (1)
- [F1]On April 1, 2026, pursuant to the Agreement and Plan of Merger, dated as of December 16, 2025, by and between Community West Bancshares ("CWB") and United Security Bancshares ("USB"), USB merged with and into CWB (the "Merger"). In connection therewith, each outstanding share of USB common stock, subject to certain limited exceptions, was converted into the right to receive 0.4520 of a share of CWB common stock, with cash payable in lieu of any fractional share. In connection with the Merger, the reporting person received the CWB common stock reported in Table I in exchange for all of the reporting person's shares of USB common stock, with cash received in lieu of a fractional share of CWB common stock.