Form 4: Atlantic Union Bankshares Corp Executive Gorman Reports Stock Disposals for Tax Obligations
SEC Form 4
Robert Michael Gorman, EVP and CFO of Atlantic Union Bankshares Corp, reports disposing of shares to cover tax withholding obligations related to vesting restricted stock.
Summary
- Robert Michael Gorman, the EVP and CFO of Atlantic Union Bankshares Corp, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the disposal of common stock shares on February 22, 2025, February 23, 2025 and February 24, 2025 to cover tax withholding requirements upon the vesting of restricted stock awards.
- A total of 941 shares were disposed of on February 22, 2025, 847 shares on February 23, 2025 and 475 shares on February 24, 2025, all at a price of $35.26, $35.26 and $35.16 respectively.
- Following these transactions, Gorman directly owns 77,707 shares of common stock and indirectly owns 2,340.7184 shares through a trustee of an employee stock ownership plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions for tax purposes and doesn't indicate a change in the executive's overall confidence in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common and don't necessarily reflect a negative outlook on the company.
Comparison to Industry Standards
- Executive stock transactions are a normal part of compensation and wealth management.
- Companies like Truist, Bank of America, and PNC Financial Services also see regular Form 4 filings from their executives.
- The scale of these transactions is typical for executives at similarly sized financial institutions.
Key Dates
| Date | Description |
|---|---|
| 02/22/2025 | Disposal of 941 shares of common stock to cover tax withholding. |
| 02/23/2025 | Disposal of 847 shares of common stock to cover tax withholding. |
| 02/24/2025 | Disposal of 475 shares of common stock to cover tax withholding. |
| 02/25/2025 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.