Form 4: Atlantic Union Bankshares Corp Director Frederick Blair Wimbush Reports Changes in Beneficial Ownership

Director Frederick Blair Wimbush reports changes in beneficial ownership of Atlantic Union Bankshares Corp stock due to phantom stock acquisition and dividend reinvestment.

Summary

• On July 1, 2024, Frederick Blair Wimbush, a director of Atlantic Union Bankshares Corp, acquired 495 shares of phantom stock.
• These phantom stock shares are economically equivalent to common stock and will be payable in cash or common stock based on the reporting person's deferred compensation election.
• The price of the phantom stock is based on the market closing price of $32.85 on the last trading day before the transaction date.
• Additionally, Wimbush acquired 82.591 shares through dividend reinvestment since the last Form 4 filing.
• Following these transactions, Wimbush beneficially owns 8,733.396 shares of Atlantic Union Bankshares Corp indirectly through a non-qualified plan.

Sentiment

Score: 6

Explanation: The document is neutral in tone, simply reporting transactions. It doesn't contain overtly positive or negative information.

Positives

• The acquisition of phantom stock and shares through dividend reinvestment increases the director's stake in the company, potentially aligning interests with shareholders.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, which is common in the financial services industry.

Comparison to Industry Standards

• Tracking insider transactions is a standard practice in financial analysis.
• Comparing Wimbush's holdings and transactions to those of directors at peer banks like Truist Financial (TFC) or PNC Financial Services (PNC) could provide context.
• Similar filings are expected from executives and directors at comparable financial institutions.

Stakeholder Impact

• The increased stake of a director may be viewed positively by shareholders as it aligns interests.

Key Dates