United Security Bancshares Proxy Statement Filing

TL;DR

<b>United Security Bancshares filed a definitive proxy statement (DEF 14A) on April 1, 2024, for the fiscal year ending December 31, 2023.</b>

AI Summary

UNITED SECURITY BANCSHARES (UBFO) filed a Proxy Statement (DEF 14A) with the SEC on April 1, 2024. Filing type is DEF 14A, indicating a definitive proxy statement. Company name is UNITED SECURITY BANCSHARES, with Central Index Key 0001137547. The filing period is for the fiscal year ending December 31, 2023. Business and mailing address is 2126 Inyo Street, Fresno, CA 93721. The filing was submitted on April 1, 2024.

Why It Matters

For investors and stakeholders tracking UNITED SECURITY BANCSHARES, this filing contains several important signals. This DEF 14A filing provides detailed information to shareholders regarding matters to be voted on at the company's annual meeting, including executive compensation and director elections. The filing includes data related to equity awards granted and vested/unvested awards for both PEO (Principal Executive Officer) and Non-PEO members for the fiscal years 2022 and 2023.

Risk Assessment

Risk Level: low — UNITED SECURITY BANCSHARES shows low risk based on this filing. The filing is a standard DEF 14A, which is routine for public companies and does not contain immediate financial performance data or significant strategic shifts.

Analyst Insight

Review the proxy statement for details on executive compensation, director nominations, and any shareholder proposals to understand management's strategy and governance.

Key Numbers

• 2024-04-01 — Filing Date (Filed as of date)
• 2024-04-03 — Period of Report (Conformed period of report)
• 2023-12-31 — Fiscal Year End (Fiscal year end)
• 2022-12-31 — Prior Fiscal Year End (Prior fiscal year end)

Key Players & Entities

• UNITED SECURITY BANCSHARES (company) — FILER
• 0001137547 (company) — CENTRAL INDEX KEY
• 6021 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• 912112732 (company) — IRS NUMBER
• CA (company) — STATE OF INCORPORATION
• 2126 INYO STREET (company) — BUSINESS ADDRESS STREET 1
• FRESNO (company) — BUSINESS ADDRESS CITY
• 93721 (company) — BUSINESS ADDRESS ZIP

FAQ

Industry Context

United Security Bancshares operates within the national commercial banking sector.

Regulatory Implications

The filing is made under Rule 14a-101 of the Securities Exchange Act of 1934, which governs the content of proxy statements.

What Investors Should Do

1. Analyze executive compensation details provided in the proxy statement.
2. Review director nominations and any shareholder proposals.
3. Note the filing date and reporting period for compliance tracking.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard proxy statement and does not directly compare financial performance to a previous filing.

Filing Documents

• ubfo-20240401.htm (DEF 14A) — 584KB
• ubfo-20240401_g1.jpg (GRAPHIC) — 13KB
• ubfo-20240401_g2.jpg (GRAPHIC) — 272KB
• ubfo-20240401_g3.jpg (GRAPHIC) — 236KB
• 0001137547-24-000067.txt (&nbsp;) — 2454KB
• ubfo-20240401.xsd (EX-101.SCH) — 4KB
• ubfo-20240401_def.xml (EX-101.DEF) — 5KB
• ubfo-20240401_lab.xml (EX-101.LAB) — 7KB
• ubfo-20240401_pre.xml (EX-101.PRE) — 4KB
• ubfo-20240401_htm.xml (XML) — 139KB

From the Filing

ubfo-20240401 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (RULE 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant x Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 United Security Bancshares (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. UNITED SECURITY BANCSHARES NOTICE OF 2024 ANNUAL MEETING OF SHAREHOLDERS TO BE HELD WEDNESDAY, MAY 15, 2024 - 6:00 p.m. TO THE SHAREHOLDERS OF UNITED SECURITY BANCSHARES: The 2024 Annual Meeting of Shareholders (the "Meeting") of United Security Bancshares (the "Company") will be held at the Company's corporate office at 2126 Inyo Street, Fresno, California 93721, at 6:00 p.m., Pacific Daylight Time (PDT), on Wednesday, May 15, 2024. At the Meeting, you will be asked to consider and vote on the following matters: (1) Electing the following ten (10) persons to the Board of Directors to serve until the 2025 Annual Meeting of Shareholders and until their successors are elected and have qualified: Stanley J. Cavalla Nabeel Mahmood Dora Westerlund Tom Ellithorpe Kenneth D. Newby Dennis R. Woods Jagroop "Jay" Gill Susan Quigley Heather Hammack Brian C. Tkacz (2) Ratifying the selection of Moss Adams LLP to serve as the independent registered public accounting firm for the Company for 2024. (3) Transacting such other business as may properly come before the Meeting and any adjournments or postponements thereof. If you were a shareholder of record on March 27, 2024, you may participate in and vote at the Meeting. Article III, Section 3.3 of our Bylaws provides for the nomination of directors in the following manner: Section 3.3. Nominations of Directors . Nominations for election of members of the board may be made by the board or by any holder of any outstanding class of capital stock of the corporation entitled to vote for the election of directors. Notice of intention to make any nominations (other than for persons named in the notice of the meeting called for the election of directors) shall be made in writing and shall be delivered or mailed to the president of the corporation by the later of: (i) the close of business twenty-one (21) days prior to any meeting of shareholders called for the election of directors; or (ii) ten (10) days after the date of mailing of notice of the meeting to shareholders. Such notification shall contain the following information to the extent known to the notifying shareholder: (a) the name and address of each proposed nominee; (b) the principal occupation of each proposed nominee; (c) the number of shares of capital stock of the corporation owned by each proposed nominee; (d) the name and residence address of the notifying shareholder; (e) the number of shares of capital stock of the corporation owned by the notifying shareholder; (f) the number of shares of capital stock of any bank, bank holding company, savings and loan association, or other depository institution owned beneficially by the nominee or by the notifying shareholder and the identities and locations of any such institutions; and (g) whether the proposed nominee has ever been convicted of or pleaded nolo contendere to any criminal offense involving dishonesty or breach of trust, filed a petition in bankruptcy, or been adjudged bankrupt. The notification shall be signed by the nominating shareholder and by

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View this DEF 14A filing on SEC EDGAR