Kevin Williams
About Kevin Williams
Kevin Williams, age 50, was appointed Senior Vice President and Chief Banking Officer of United Security Bank (subsidiary of United Security Bancshares) on May 30, 2025, with responsibilities spanning Bank Operations, Administration, Human Resources, Security, Facilities, and service on the Bank & Board ALCO Committee . Prior to UBFO, he served as Market President at Bank of the Sierra (2022–2025) and SVP, Central Valley Group Manager at Comerica Bank (2018–2022) . As context for company performance, UBFO’s “pay versus performance” disclosure shows total shareholder return (TSR) of $125.80 for 2024 and $121.33 for 2023, net income of $14,783,000 (2024) and $19,796,000 (2023), and core pre-tax net income growth of -18.70% (2024) and +12.70% (2023) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bank of the Sierra | Market President | 2022–2025 | — |
| Comerica Bank | SVP, Central Valley Group Manager | 2018–2022 | — |
Fixed Compensation
| Component | Amount/Term | Notes |
|---|---|---|
| Base Salary | $295,000 per year | Initial annual base salary at appointment |
| Auto Allowance | $1,000 per month | Monthly automobile expenses allowance |
| 401(k) Match | Up to 4% of eligible compensation | 100% match up to 4% per plan rules |
| Benefits/Perquisites | Eligible to participate | Executive management incentive plans, benefits, perquisites |
Performance Compensation
| Incentive Type | Metric(s) | Target/Payout | Vesting |
|---|---|---|---|
| Annual Incentive | Executive management incentive plans | Eligible; specific targets not disclosed | N/A |
| Restricted Stock Award | Long-term equity (restricted stock) | 81,000 shares granted | “Vesting anniversary effective as of May 30, 2025” (per Equity Plan and RSA agreement) |
| Future Equity (Option or RS) | Stock options (or economically equivalent RS) | 25,000 shares (or equivalent RS) to be granted upon expiration of Initial Term | Vest over 5 years at 20% per year |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership (initial filing) | 0 shares of common stock (Form 3) |
| Vested vs. Unvested | RS award of 81,000 shares subject to Equity Plan/RSA agreement; beneficial ownership initially 0 |
| Options (Exercisable/Unexercisable) | Future grant of 25,000 options (or equivalent RS) to vest 20% annually post-Initial Term; not yet outstanding at appointment |
| Pledging/Hedging | No pledging or hedging policy specifics disclosed for Williams; Company maintains insider trading policy with blackout periods |
Employment Terms
| Term | Provision |
|---|---|
| Start Date & Role | Appointed SVP & Chief Banking Officer on May 30, 2025 |
| Agreement Term | Initial Term through May 29, 2026; auto-renews annually without further notice |
| Termination for Cause | Defined grounds including willful misconduct, violation of law/policy, reputational harm, loss of bond coverage, disability/death |
| Severance (no CIC) | 6 months’ base salary paid over 6 months plus 6 months medical/COBRA continuation |
| Severance (with CIC, double trigger) | 12 months’ base salary (lump sum) + prior year bonus (lump sum) + 12 months medical/COBRA; payable upon termination within 12 months of CIC or resignation for Good Cause within 12 months of CIC |
| Good Cause (examples) | Material diminution of duties, pay/benefit cut ≥5% post-CIC, relocation beyond 10 miles, failure to assume agreement by successor |
| Change-in-Control Definition | Multi-pronged definition covering business combinations, >50% voting power acquisition, majority board replacement (with specified exceptions) |
| 280G Excise Tax Cutback | Payments reduced to avoid 4999 excise tax; verification/dispute process specified |
| 409A Six-Month Delay | If applicable and “specified employee,” distributions delayed 6 months, then catch-up payment |
| Clawback | Reimbursement of bonus if fraud/negligence/misconduct contributed to restatement; net of taxes; plus company-wide clawback policy for erroneously received incentive comp |
| Confidentiality/Trade Secrets | Prohibitions on disclosure/use; CA Labor Code §2870 assignment; extended post-employment protection |
| Expense Controls | CEO approval for reimbursements; disallowed reimbursements treated as taxable compensation |
Investment Implications
- Alignment and retention: The 81,000-share restricted stock grant with vesting anniversaries, coupled with a future 25,000-share option (or equivalent RS) vesting 20% annually, creates multi-year retention and alignment, but initial beneficial ownership was zero at Form 3, implying near-term insider selling pressure is low until vesting/accruals occur .
- Change-in-control economics: Double-trigger CIC severance (12 months’ salary + prior-year bonus + 12 months benefits) with 280G cutback reduces excessive parachute risk while still providing meaningful protection; this structure moderates management’s incentives around strategic transactions and reduces shareholder dilution concerns from golden parachutes .
- Governance and risk controls: Explicit clawback language in Williams’s agreement and a company-wide clawback policy, plus blackout periods, lower pay-risk misalignment and trading risk; absence of disclosed pledging and initial zero ownership further reduce collateralization red flags .
- Execution scope: Role breadth (operations, HR, security, IT oversight, ALCO committee) centralizes operational risk management; prior regional banking leadership indicates relevant domain experience, though specific performance records or ESG/TSR-linked incentive metrics for Williams are not disclosed, limiting pay-for-performance visibility at this stage .