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Martin E. Plourd, President of Community West Bancshares (NASDAQ:CWBC), recently sold a total of 7,732 shares of the company’s common stock. These transactions, which took place on February 7, 2025, occurred at prices ranging from $19.24 to $19.29 per share, amounting to a total value of $148,891. The sales occurred with the stock trading near $19.40, between its 52-week range of $15.50 to $24.47. According to InvestingPro analysis, CWBC appears overvalued at current levels, with analyst price targets ranging from $22 to $26.
Following these sales, Plourd’s direct ownership of Community West Bancshares’ shares decreased to 82,737 shares. Additionally, on February 6, 2025, Plourd exercised options to acquire 17,104 shares at a price of $8.78 per share. This transaction, along with shares withheld for tax obligations, reflects ongoing adjustments in his holdings of the company’s stock.
In other recent news, Community West Bancshares has revamped its executive contracts, entering into new employment agreements with six of its executive officers. These agreements, effective January 30, 2025, include revised compensation packages with base salaries and potential incentive bonuses. CEO James J. Kim will receive the highest base salary of $625,000, while CFO Shannon R. Livingston and COO Blaine C. Lauhon will earn $350,000 and $310,000, respectively.
The contracts also include benefits such as company cars or allowances, paid vacation, and restricted stock shares. Provisions for severance payments have been outlined in case of termination without cause or following a change in company control. In a separate arrangement, CFO Livingston has entered into a Salary Continuation Agreement, providing her with an annual payment for 15 years post-separation from service after age 62.
In addition to these developments, the company announced the resignation of Patrick A. Luis, the Bank’s Chief Credit Officer, effective February 28, 2025. His departure is not due to any disagreements with the company’s operations, policies, or practices. As these are recent developments, investors are encouraged to review the details of these agreements and additional arrangements filed in the SEC Form 8-K.
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