Martin E. Plourd - 01 Apr 2024 Form 4 Insider Report for COMMUNITY WEST BANCSHARES /

Role
President and CEO, Director
Signature
/s/ Nadia Young on behalf of Martin E. Plourd
Issuer symbol
N/A
Transactions as of
01 Apr 2024
Net transactions value
-$1,640,313
Form type
4
Filing time
05 Apr 2024, 18:03:50 UTC
Previous filing
27 Mar 2024
Next filing
02 May 2024
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 $1,640,313 -104,412 -100% $15.71 0 01 Apr 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 +1,650 0 01 Apr 2024 Common Stock 1,650 $6.70 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +20,000 0 01 Apr 2024 Common Stock 20,000 $6.70 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +25,000 0 01 Apr 2024 Common Stock 25,000 $6.86 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +20,000 0 01 Apr 2024 Common Stock 20,000 $10.30 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +10,000 0 01 Apr 2024 Common Stock 10,000 $10.99 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +20,000 0 01 Apr 2024 Common Stock 20,000 $10.56 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +20,000 0 01 Apr 2024 Common Stock 20,000 $10.70 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +3,000 0 01 Apr 2024 Common Stock 3,000 $6.71 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +25,000 0 01 Apr 2024 Common Stock 25,000 $9.89 Direct F1, F2
transaction CWBC Stock Option Disposed to Issuer +20,000 0 01 Apr 2024 Common Stock 20,000 $12.94 Direct F1, F2
transaction CWBC Restricted Stock Award Disposed to Issuer +6,000 0 01 Apr 2024 Common Stock 6,000 $0.000000 Direct F1, F2, F3
transaction CWBC Stock Option Disposed to Issuer +10,000 0 01 Apr 2024 Common Stock 10,000 $14.72 Direct F1, F2
transaction CWBC Restricted Stock Award Disposed to Issuer +4,800 0 01 Apr 2024 Common Stock 4,800 $0.000000 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Martin E. Plourd 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 (Continued from Footnote (1)) (ii) each outstanding unvested Company restricted stock award automatically vested in full and became entitled to the Merger Consideration; 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.