Form 4: Atlantic Union Bankshares Corp Director Corbin Acquires Phantom Stock

Director Patrick E. Corbin acquired phantom stock in Atlantic Union Bankshares Corp through a non-qualified deferred compensation plan.

Summary

• On April 10, 2024, Patrick E. Corbin, a director of Atlantic Union Bankshares Corp, acquired 319.624 shares of phantom stock.
• The acquisition was made through a non-qualified deferred compensation plan.
• The price of the phantom stock was $32.46 per share.
• Following the transaction, Corbin beneficially owns 26,487.011 shares of phantom stock indirectly through a trustee.
• The phantom stock is the economic equivalent of common stock and will be payable in cash or common stock at a future date elected by Corbin.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of phantom stock by a director suggests confidence in the company's future, but it's a routine transaction.

Positives

• The acquisition of phantom stock by a director signals confidence in the company's future performance.

Future Outlook

The phantom stock will be payable in cash or common stock at the time elected by the reporting person in the reporting person's deferred compensation election form.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a director's participation in a deferred compensation plan, which is a common practice in corporate governance.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it signals insider confidence.

Key Dates