Form 4: Atlantic Union Bankshares Director Acquires Phantom Stock

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

Summary

• On July 1, 2024, Patrick E. Corbin, a director of Atlantic Union Bankshares Corp, acquired 875 shares of phantom stock.
• 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 and will be payable in cash or common stock at a future date elected by the reporting person.
• The price of the phantom stock was $32.85 per share, based on the market closing price on the last trading day before the transaction date.
• Following the transaction, Corbin beneficially owns 27,630.234 shares, including 268.223 shares acquired through dividend reinvestment since the last Form 4 filing.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally neutral. The acquisition of phantom stock is a positive sign of alignment between the director and the company's long-term performance.

Future Outlook

The shares of phantom stock become payable, in cash or common stock, at the time elected by the reporting person in the reporting person's deferred compensation election form; provided, that if the reporting person elected to receive distributions under the Company's non-qualified deferred compensation plan in installments, such amounts are payable only in cash.

Industry Context

This filing reflects routine transactions related to director compensation and deferred compensation plans, which are common practices in publicly traded companies.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it involves phantom stock and deferred compensation for a director.

Key Dates