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In a recent transaction filed with the Securities and Exchange Commission, James J. Kim, CEO and Director of Community West Bancshares (NASDAQ:CWBC), purchased 1,600 shares of the company’s common stock. The shares were acquired at a price of $17.36 each, amounting to a total purchase value of $27,776. This transaction was part of the company’s Employee Stock Purchase Plan (ESPP). The stock currently trades at $19.09, with InvestingPro analysis suggesting the shares are trading above their Fair Value.
Following this acquisition, Kim now directly owns 60,178 shares of Community West Bancshares, a $361.47 million market cap company that has maintained dividend payments for 14 consecutive years, currently yielding 2.51%. The purchase reflects Kim’s ongoing involvement and investment in the company, headquartered in Fresno, California. InvestingPro subscribers can access additional insights, including 6 more ProTips and comprehensive insider trading analysis.
In other recent news, Community West Bancshares has announced new employment agreements with six of its executive officers, as detailed in a recent SEC filing. These agreements, effective January 30, 2025, include revised compensation packages, with CEO James J. Kim set to receive a base salary of $625,000 and an incentive bonus target of 60%. CFO Shannon R. Livingston and COO Blaine C. Lauhon will earn base salaries of $350,000 and $310,000, respectively, with bonus targets of 50% and 45%. The agreements also cover benefits such as company cars, paid vacation, and eligibility for deferred compensation plans. Provisions for severance payments are included in case of termination without cause or following a change in control. Additionally, CFO Shannon R. Livingston has entered into a Salary Continuation Agreement, providing her with annual payments for 15 years post-separation after age 62. An amendment has been made to CEO James J. Kim’s Executive Salary Continuation Agreement, altering early termination benefits. Lastly, the company announced the resignation of Chief Credit Officer Patrick A. Luis, effective February 28, 2025, with no disagreements cited regarding company operations.
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