OBERG ROBERT C JR 4

What Happened

Robert C. Oberg Jr., SVP & Chief Risk Officer of United Security Bancshares (UBFO), exercised or converted derivatives on March 24, 2026, resulting in acquisition of 7,391 shares at a reported exercise/conversion price of $0.00. To satisfy a tax liability related to the transaction (code F), 3,036 of those shares were surrendered/disposed (reported at $0.00). Net shares retained from this transaction equal 4,355 (7,391 acquired minus 3,036 withheld). The filing lists no cash amount associated with these items on the Form 4.

Key Details

• Transaction date: 2026-03-24 (Form 4 filed 2026-03-26; appears timely)
• Primary action: Code M — Exercise/conversion of derivative: 7,391 shares @ $0.00 (acquired)
• Tax/payment action: Code F — Payment of exercise price or tax liability: 3,036 shares @ $0.00 (disposed)
• Net shares retained from the transaction: 4,355
• Shares owned after transaction: Not disclosed in this filing
• Footnote: F1 — "For disclosure purposes only."
• Filing timeliness: No late filing indicated (filed two days after the transaction date)

Context

• Code M indicates an option exercise or conversion of a derivative into shares; code F typically reflects shares withheld/surrendered to cover tax obligations. This pattern is common for option exercises or vesting events and is often routine rather than a market sentiment signal.
• Because the Form 4 reports $0.00 amounts for the exercise and withholding lines, no cash values are shown here; check company filings or previous holdings reports for fuller ownership context if relevant.