Illgen John D - Apr 1, 2024 Form 4 Insider Report for COMMUNITY WEST BANCSHARES / (CWBC)

Role: Director
Signature: /s/ Nadia Young on behalf of John D. Illgen
Stock symbol: CWBC
Transactions as of: Apr 1, 2024
Transactions value $: -$471,300
Form type: 4
Date filed: 4/5/2024, 06:23 PM
Previous filing: Feb 6, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CWBC	Common Stock	Disposed to Issuer	-$471K	-30K	-100%	$15.71	0	Apr 1, 2024	Direct	F1, F2

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

Type	Sym	Class	Transaction	Shares	Change %	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CWBC	Stock Option	Disposed to Issuer	-5K	-100%	Apr 1, 2024	Common Stock	5K	$6.53	Direct	F1, F2
transaction	CWBC	Stock Option	Disposed to Issuer	-5K	-100%	Apr 1, 2024	Common Stock	5K	$10.10	Direct	F1, F2
transaction	CWBC	Stock Option	Disposed to Issuer	-3K	-100%	Apr 1, 2024	Common Stock	3K	$11.50	Direct	F1, F2
transaction	CWBC	Stock Option	Disposed to Issuer	-3K	-100%	Apr 1, 2024	Common Stock	3K	$6.71	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Illgen John D 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.

Content

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).

(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.