Gill Amends United Security Bancshares Filing
Ticker: UBFO · Form: SC 13D/A · Filed: Jul 30, 2024 · CIK: 1137547
| Field | Detail |
|---|---|
| Company | United Security Bancshares (UBFO) |
| Form Type | SC 13D/A |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $7.96, $7.20, $7.25 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 13D-filing, amendment, beneficial-ownership
TL;DR
Gill updated their United Security Bancshares stake filing. Watch for details.
AI Summary
Jagroop Gill has amended their Schedule 13D filing for United Security Bancshares as of July 24, 2024. The filing indicates a change in beneficial ownership of the company's common stock. The specific details of the change in ownership, including the number of shares and percentage, are not fully detailed in the provided text but are the subject of this amendment.
Why It Matters
Amendments to Schedule 13D filings signal potential shifts in control or significant investment activity by major shareholders, which can impact stock price and corporate strategy.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant stake changes by large investors, which can lead to volatility or strategic shifts.
Key Players & Entities
- Jagroop Gill (person) — Filing person
- United Security Bancshares (company) — Subject company
- Kenneth E. Moore, Esq. (person) — Authorized to receive notices
- Stuart | Moore | Staub (company) — Law firm
FAQ
What is the specific nature of the amendment filed by Jagroop Gill for United Security Bancshares?
The amendment (Amendment No. 1) to the Schedule 13D filing indicates a change in beneficial ownership of United Security Bancshares' common stock by Jagroop Gill, as of July 24, 2024.
Who is authorized to receive notices and communications regarding this filing?
Kenneth E. Moore, Esq. from Stuart | Moore | Staub, located at 641 Higuera Street, Suite 302, San Luis Obispo, CA 93401, is authorized to receive notices and communications.
What is the CUSIP number for United Security Bancshares' common stock?
The CUSIP number for United Security Bancshares' common stock is 911460103.
When was the event that required this Schedule 13D filing amendment?
The date of the event which requires filing of this statement is July 24, 2024.
What is the business address of United Security Bancshares?
The business address of United Security Bancshares is 2126 Inyo Street, Fresno, CA 93721.
Filing Stats: 1,121 words · 4 min read · ~4 pages · Grade level 8 · Accepted 2024-07-30 19:27:31
Key Financial Figures
- $7.96 — Agreement, purchased 140,384 shares for $7.96share, which increased the aggregate own
- $7.20 — ited trade for the preferential rate of $7.20share. 3 On June 6, 2024, Mr. Gill, a
- $7.25 — ited trade for the preferential rate of $7.25share. On June 5, 2024, Mr. Gill, as Tr
Filing Documents
- sched13damendno1jaygill.htm (SC 13D/A) — 34KB
- 0001981173-24-000002.txt ( ) — 35KB
Purpose of Transaction
Item 4. Purpose of Transaction
of the Schedule 13 is hereby amended to include the following
Item 4 of the Schedule 13 is hereby amended to include the following The Reporting Person files this Amendment No. 1 to Schedule 13D following a material increase in the percentage of the class beneficially owned. On July 24, 2024, Jagroop S. Gill, as Trustee of the Jagroop S. Gill and Rupinder K. Gill Revocable Living Trust Agreement, purchased 140,384 shares for $7.96share, which increased the aggregate ownership to 7.07% of the common stock of the Issuer.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer
of the Schedule 13D is hereby amended and restated as follows
Item 5 of the Schedule 13D is hereby amended and restated as follows (a) The aggregate number and percentage of the outstanding shares of common stock beneficially owned by the Jagroop S. Gill and Rupinder K. Gill Revocable Living Trust Agreement is 1,220,051, which represents 7.04% of the common stock of the Issuer. Individually, Mr. Gill owns 3,268 shares of common stock, which were obtained through the issuance of immediately vested restricted stock award grants for his service as a director. Thus, the aggregate number and percentage of the outstanding shares of common stock beneficially owned by the Reporting Person is 1,223,319, which represents 7.07% of the common stock of the Issuer. The aggregate percentage of Shares reported owned is based upon 17,315,195 Shares outstanding as of March 31, 2024, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on May 9, 2024 (b) Jagroop S. Gill, individually, has the sole voting power and sole investment power with respect to the 3,268 shares of common stock. The Trust acts through its Trustee, Jagroop S. Gill, who has shared voting power and shared investment power with respect to the 1,220,051 shares of common stock owned by the Trust. (c) Transactions in the class of securities reported effected during the past sixty days for this Amendment No. 1 On July 24, 2024, Mr. Gill, as Trustee of the Trust, purchased 140,384 shares on the open market in an unsolicited trade for the preferential rate of $7.96share. On June 25, 2024, Mr. Gill received 534 shares for his service as a director through the issuance of immediately vested restricted stock award grants. On June 13, 2024, Mr. Gill, as Trustee of the Trust, purchased 8,255 shares on the open market in an unsolicited trade for the preferential rate of $7.20share. 3 On June 6, 2024, Mr. Gill, as Trustee of the Trust, purchased 4,543 shares on the open mark