Richard Pimentel - Apr 1, 2024 Form 4 Insider Report for COMMUNITY WEST BANCSHARES / (CWBC)

Role
CFO
Signature
/s/ Nadia Young on behalf of Richard Pimentel
Stock symbol
CWBC
Transactions as of
Apr 1, 2024
Transactions value $
-$9,426
Form type
4
Date filed
4/5/2024, 06:10 PM
Previous filing
Nov 21, 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CWBC Common Stock Disposed to Issuer -$9.43K -600 -100% $15.71 0 Apr 1, 2024 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CWBC Stock Option Disposed to Issuer +20K 0 Apr 1, 2024 Common Stock 20K $14.14 Direct F1, F2
transaction CWBC Restricted Stock Award Disposed to Issuer +2.4K 0 Apr 1, 2024 Common Stock 2.4K $0.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Richard Pimentel is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Disposed of pursuant to the Agreement and Plan of Merger, dated as of October 10, 2023 (the "Merger Agreement"), by and between Central Valley Community Bancorp ("Central Valley") and Community West Bancshares (the "Company"), providing for the Company to merge (the "Merger") with and into Central Valley with Central Valley being the surviving entity. The Merger became effective at 12:01 a.m. on April 1, 2024 (the "Effective Time"), at which time (i) each share of Company common stock, other than excluded shares and dissenting shares, was converted into the right to receive 0.79 of a share of common stock of Central Valley, with cash to be paid in lieu of any fractional shares of common stock of Central Valley (the "Merger Consideration"); (to be continued)
F2 and (iii) each outstanding unvested Company stock option automatically vested in full, and each outstanding stock option was substituted for a stock option issued by Central Valley for the right to receive a number of shares of Central Valley's 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, or $19.89 per share of Central Valley common stock), the value of the Merger Consideration was $15.71 ($19.89 * $ 0.79). Also as of April 1, 2024, Central Valley changed its corporate name to Community West Bancshares
F3 Not applicable.