UNITED SECURITY BANCSHARES·4/A

Apr 13, 2:33 PM ET

QUIGLEY SUSAN 4/A

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United Security (UBFO) Director Susan Quigley Disposes Shares in Merger

What Happened Susan Quigley, a director of United Security Bancshares (UBFO), had a total of 39,887 UBFO shares disposed to the issuer on April 1, 2026 as part of the Company’s merger into Community West. The Form 4 shows 24,887 shares reported as disposed @ $0.00 (reported value $0) and 15,000 shares reported as a derivative disposition (price N/A). These dispositions were not open‑market sales — they were transfers/conversions under the Merger Agreement rather than voluntary cash sales.

Key Details

  • Transaction date: April 1, 2026 (merger effective at 12:01 a.m. ET).
  • Reported dispositions: 24,887 shares (listed at $0.00) + 15,000 derivative shares = 39,887 total UBFO shares.
  • Price/consideration: UBFO shares were converted into Community West shares at the merger consideration of 0.4520 Community West share per UBFO share (per Merger Agreement); the Form 4 reports $0 for one line and N/A for the derivative line.
  • Post-transaction holdings: The reporting person is no longer subject to Section 16 reporting for UBFO after the merger (i.e., no remaining UBFO public reporting obligation).
  • Options/derivatives: Per footnote, reporting person’s UBFO stock options were converted at the effective time into the right to receive the amount, if any, by which an option’s price exceeded $10.29 (20‑day VWAP ending 3/27/2026).
  • Filing status: This is an amended Form 4 filed April 13, 2026 to correct the disposition price, clarify footnote wording, and note the reporting person is no longer a Section 16 filer for UBFO.

Context Dispositions to the issuer under a merger reflect the contract terms of the merger (conversion into the surviving company’s stock or cash consideration) and are different from market sales; they do not necessarily signal the insider’s view of the surviving company. The amendment corrects reporting details and clarifies the post‑merger reporting status.