Saunders Porsche A 4/A

What Happened

• Saunders Porsche, Senior Vice President of United Security Bancshares (UBFO), disposed a total of 70,007.944 UBFO shares in connection with the merger of United Security into Community West Bancshares. Transactions are reported at $0 because UBFO shares were converted into Community West stock under the merger terms (see Key Details). One lot of 13,389 shares was reported under code F (tax/withholding), and two lots (48,608.806 and 8,010.138 shares) under code D (disposition to the issuer).

Key Details

• Transaction dates and reported prices:
  • 2026-03-24: 13,389 shares — code F (reported price $0.00)
  • 2026-04-01: 48,608.806 shares — code D (reported price $0.00)
  • 2026-04-01: 8,010.138 shares — code D (reported price $0.00)
• Total disposed: 70,007.944 UBFO shares; total cash reported = $0.00.
• Merger note: Per the Merger Agreement effective 12:01 a.m. on April 1, 2026, each UBFO share (other than excluded/dissenting shares) was converted into the right to receive 0.4520 of a Community West common share; outstanding unvested restricted awards vested and became entitled to the same consideration.
• Ownership after transaction: The filer indicates they are no longer subject to Section 16 reporting for United Security (i.e., no remaining UBFO reporting obligation). The Form 4 does not report a UBFO share balance after conversion.
• Filing status: This is an amended Form 4 (filed 2026-04-13) that corrects the disposition price, clarifies footnote language, and notes the reporting person is no longer subject to Section 16 reporting. The original Form 4 was filed April 3, 2026.

Context

• These were not open-market sales by the insider but automatic conversion/settlement transactions caused by a merger. The $0.00 disposition price reflects that UBFO shares were converted into Community West stock (0.4520 share per UBFO share) rather than cashed out in this filing. For valuation, investors should look at Community West’s market price on/after April 1, 2026.