Tkacz Brian 4

What Happened

• Brian Tkacz, a director of United Security Bancshares (UBFO), reported dispositions tied to the April 1, 2026 merger with Community West. He disposed of 16,871 shares at a reported price of $10.51 per share for total consideration of $177,314. He also reported the disposition of 15,000 derivative instruments (no cash value reported).
• These were not ordinary open‑market sales but merger-related conversions/settlements under the Agreement and Plan of Merger.

Key Details

• Transaction date: 2026-04-01.
• Reported items:
  • 16,871 shares disposed @ $10.51; total $177,314.
  • 15,000 derivative units disposed; price/value reported as N/A (treated as derivative settlement).
• Shares owned after transaction: not provided in the filing excerpt.
• Footnotes of note:
  • F1: Merger effective 4/1/2026 — each United Security share (except exclusions/dissenters) converted into 0.4520 share of Community West; unvested restricted stock awards vested and converted to the merger consideration.
  • F2: At the effective time, reporting person’s stock options were converted into the right to receive any amount by which the option’s price exceeded $10.29 (20‑day VWAP ending 3/27/2026).
• Filing timeliness: no late‑filing indication in the provided excerpt.

Context

• These dispositions appear to be automatic/contractual results of the merger rather than discretionary insider selling. The 15,000 derivative line reflects option/derivative conversion per the merger terms and may have had no cash value if not in‑the‑money relative to the $10.29 reference. Purchases generally carry more signal for bullish insider views; merger-driven dispositions are routine settlement mechanics.