Item 4 — Purpose of Transaction
The Zucker Entities have acquired the Shares for investment purposes and continually reviews the performance of this investment and their investment alternatives. As part of the ongoing review of their investment in the Shares, the Zucker Entities may explore from time to time a variety of alternatives, including the acquisition of additional securities of Union Bank, or the disposition of securities of Union Bank in the open market or in privately negotiated transactions. The Zucker Entities may explore, support, sponsor or promote other alternatives with respect to its investment in the Shares, including but not limited to an extraordinary corporate transaction involving Union Bank, other changes in the present board of directors or management of Union Bank, changes in management's compensation, or changes in Union Bank's business or corporate structure. As substantial shareholders, the Zucker Entities Mrs. Zucker expect to communicate from time to time in the future to management and the board of directors their views as to matters that they believe will benefit Union Bank and its shareholders. Although the prior paragraph reflects activities presently contemplated by the Zucker Entities with respect to Union Bank, the Zucker Entities' plans may change at any time, and they may not take any of the actions referred to above. Except as set forth above, as of the date of this Schedule 13D, the Zucker Entities do not have any plan or proposal that relates to or would result in: (a) The acquisition by any person of additional securities of Union Bank, or the disposition of securities of Union Bank; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving Union Bank or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of Union Bank or any of its subsidiaries; (d) Any change in the present board of directors or management of Union Bank, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of Union Bank; (f) Any other material change in Union Bank's business or corporate structure; (g) Changes in Union Bank's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of Union Bank by any person; (h) Causing a class of securities of Union Bank to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of Union Bank becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act; or (j) Any action similar to any of those enumerated above. Notwithstanding the foregoing, The Zucker Entities reserve the right to effect any such actions as they may deem necessary or appropriate in the future.