SEC Form 4 · accession 0001140361-18-011386
UNITED SECURITY BANCSHARES · UFBO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Benjamin Mackovak
Director
Period of report
Feb 27, 2018
Accepted (ET)
Mar 1, 2018 · 6:51 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001137547
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 27, 2018 | A | 1,000 | $0.00 | A | 1,000 | D | |
| Common StockF4 | Feb 27, 2018 | J | 0 | $0.00 | A | 916,289 | I | By: Strategic Value Investors LP |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2 | $0.00 | Feb 27, 2018 | A | 1,000 | A | Feb 27, 2018 | Feb 27, 2028 | Common Stock | 1,000 | 16,000 | D |
| Restricted Stock UnitsF3,F2 | $10.40 | Feb 27, 2018 | M | 1,000 | D | Feb 27, 2018 | Feb 27, 2028 | Common Stock | 1,000 | 15,000 | D |
Explanation of responses
- F1Represents common stock issued pursuant to the vesting and settlement of 100% of the restricted stock units that were granted on February 27, 2018.
- F2Represents a grant of 1,000 restricted stock units on February 27, 2018, 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.
- F3Represents the complete vesting of all restricted stock units granted on February 27, 2018.
- F4916,289 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.
- F5No transactions in the issuer's equity securities occurred. Information is included to show indirect beneficial ownership of the issuer's equity securities.