Form 4 for CWBC Community West Bancshares
Accepted 2024-04-08 00:00:00 ET · period of report 2024-04-01 · accession 0001628280-24-015202 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-04-08 | 2024-04-01 | CWBC | STOVESAND KIRK | Dir | A - Grant | — | +68.0K | 69.0K | +6,798% | — |
| DM | 2024-04-08 | 2024-04-01 | CWBC | STOVESAND KIRK | Dir | A - Grant | — | +6,320 | 6,320 | New | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | CWBC - Common Stock | 2024-04-01 | A | A | 67,983 | — | 68,983 | D | — | — | (F1) Received 67,983 shares in exchange for 86,054 shares of Community West Bancshares common stock in connection with the merger of Community West Bancshares with and into Central Valley Community Bancorp, (the "Merger") based on the exchange ratio of 0.79 shares of CVCY common stock for each share of Community West Bancshares common stock. On the effective date of the Merger, the closing price of Central Valley Community Bancorp common stock was $19.89 per share. In connection with the merger, the name of Central Valley Community Bancorp was changed to Community West Bancshares and the NASDAQ trading symbol was changed to CWBC. |
| 2 | Derivative | CWBC - Stock Option | 2024-04-01 | A | A | 3,950 | — | 3,950 | D | $13.08 · 2024-04-01 to 2027-08-24 | 3,950 CWBC - Common Stock | (F2) Each stock option was issued in substitution for a stock option issued by the Community West Bancshares for a number of shares of Central Valley 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 ($19.89 per share of Central Valley common stock), the value of the merger consideration was $15.71 ($19.89 * $ 0.79). The exercise price was further adjusted as required by sections 409A and 424 of the Internal Revenue Code. |
| 3 | Derivative | CWBC - Stock Option | 2024-04-01 | A | A | 2,370 | — | 6,320 | D | $14.85 · 2024-04-01 to 2028-10-25 | 2,370 CWBC - Common Stock | (F2) Each stock option was issued in substitution for a stock option issued by the Community West Bancshares for a number of shares of Central Valley 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 ($19.89 per share of Central Valley common stock), the value of the merger consideration was $15.71 ($19.89 * $ 0.79). The exercise price was further adjusted as required by sections 409A and 424 of the Internal Revenue Code. |