Benjamin Mackovak - Feb 28, 2023 Form 4 Insider Report for UNITED SECURITY BANCSHARES (UBFO)

Role: Director
Signature: /s/ Benjamin Mackovak
Stock symbol: UBFO
Transactions as of: Feb 28, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/2/2023, 06:34 PM
Previous filing: Dec 2, 2022
Next filing: Jun 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UBFO	Common Stock	Options Exercise		+1.5K	+35.31%		5.75K	Feb 28, 2023	Direct	F1
transaction	UBFO	Common Stock	Options Exercise		+497	+8.65%		6.25K	Mar 1, 2023	Direct	F5
transaction	UBFO	COMMON STOCK	Other		0	0%		932K	Mar 1, 2023	By: Strategic Value Investors LP	F9

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	UBFO	Restricted Stock Units	Award		+1.5K	+10%		16.5K	Feb 28, 2023	Common Stock	1.5K	$0.00	Direct	F2
transaction	UBFO	Restricted Stock Units	Options Exercise		-1.5K	-9.09%		15K	Feb 28, 2023	Common Stock	1.5K	$7.70	Direct	F2, F3, F4
transaction	UBFO	Restricted Stock Units	Award		+497	+3.31%		15.5K	Mar 1, 2023	Common Stock	497	$0.00	Direct	F6
transaction	UBFO	Restricted Stock Units	Options Exercise		-467	-3.02%		15K	Mar 1, 2023	Common Stock	497	$7.67	Direct	F6, F7, F8

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

Explanation of Responses:

Id	Content
F1	Represents common stock issued pursuant to the vesting and settlement of 100% of the restricted stock units that were granted on February 28, 2023 as a discretionary incentive award.
F2	Represents a grant of discretionary restricted stock units awarded on February 28, 2023, in consideration for service as a member of the Company's Board of Directors. 100% of the restricted stock units were vested on the grant date.
F3	Represents the complete vesting of all restricted stock units granted on February 28, 2023.
F4	Represents common stock closing price on February 28, 2023..
F5	Represents common stock issued pursuant to the vesting and settlement of 100% of the restricted stock units that were granted on March 1, 2023.
F6	Represents a grant of restricted stock units on March 1, 2023, in consideration for service as a member of the Company's Board of Directors. 100% of the restricted stock units were vested on the grant date.
F7	Represents the complete vesting of all restricted stock units granted on March 1, 2023.
F8	Represents common stock closing price on March 1, 2023.
F9	Shares owned directly by Strategic Value Investors LP. Mr. Mackovak, solely by virtue of his position as a managing member of Strategic Value Bank Partners LLC, which serves as the general partner of Strategic Value Investors LP, may be deemed to beneficially own the shares owned directly by Strategic Value Investors LP for purposes of Section 16. Mr. Mackovak expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. For disclosure purposes only.