Form 4: Atlantic Union Bankshares Corp Executive Reports Share Transactions

Robert Michael Gorman, EVP and CFO of Atlantic Union Bankshares Corp, reports the vesting of performance share units and subsequent tax withholding.

Summary

• Robert Michael Gorman, the EVP and CFO of Atlantic Union Bankshares Corp, reported transactions involving the company's common stock.
• On January 29, 2025, 6,946 performance share units (PSUs) vested, resulting in the acquisition of these shares.
• Also on January 29, 2025, 2,278 shares were withheld to cover tax obligations related to the vesting of the PSUs.
• Following these transactions, Mr. Gorman directly owns 79,970 shares of common stock and indirectly owns 2,210.4065 shares through the company's ESOP.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and does not indicate any significant positive or negative sentiment. The vesting of PSUs suggests that performance goals were met, which is a slightly positive signal.

Positives

• The vesting of performance share units indicates that performance goals were met, which is a positive sign for the company.

Industry Context

This is a routine filing related to executive compensation and is common in the financial services industry.

Comparison to Industry Standards

• Vesting of performance share units is a common practice in executive compensation across the financial industry.
• Tax withholding upon vesting is also a standard procedure.
• Similar filings are regularly made by executives at comparable financial institutions such as Truist Financial Corporation (TFC) and Capital One Financial Corporation (COF).

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates

Keywords

Atlantic Union Bankshares Corp, AUB, Robert Michael Gorman, Performance Share Units, PSUs, Share Vesting, Tax Withholding, Executive Compensation, Form 4, Insider Trading