Form 4: Atlantic Union Bankshares Director Acquires Phantom Stock

Director Patrick E. Corbin acquired 528 shares of phantom stock in Atlantic Union Bankshares Corp on January 2, 2025, through a non-qualified deferred compensation plan.

Summary

• Patrick E. Corbin, a director at Atlantic Union Bankshares Corp, acquired 528 shares of phantom stock on January 2, 2025.
• The phantom stock was acquired through a non-qualified deferred compensation plan.
• Each share of phantom stock is equivalent to one share of common stock.
• The phantom stock will be paid out in cash or common stock at a time elected by the reporting person.
• The price of the phantom stock was $37.88 per share, based on the market closing price on the last trading day before the transaction date.
• The director also indirectly owns 29,372.97 shares of common stock, which includes 228.237 shares acquired through dividend reinvestment since the last Form 4 filing.

Sentiment

Score: 7

Explanation: The document reflects a routine insider transaction, which is generally neutral to slightly positive as it indicates director's alignment with company performance.

Positives

• The acquisition of phantom stock by a director could be seen as a positive sign of confidence in the company's future performance.

Future Outlook

The phantom stock will be paid out in cash or common stock at a time elected by the reporting person, or in cash installments if elected.

Industry Context

This is a routine filing related to insider transactions, which is common in the financial industry. Directors often receive stock-based compensation as part of their overall package.

Comparison to Industry Standards

• Stock-based compensation, including phantom stock, is a common practice for directors and executives in the financial industry.
• Many financial institutions use deferred compensation plans as a way to align the interests of management with those of shareholders.
• The amount of phantom stock acquired is relatively small compared to the overall outstanding shares of the company.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director's interests with the company's performance.

Key Dates

Keywords

phantom stock, director, insider trading, deferred compensation, Atlantic Union Bankshares, AUB, equity