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 April 1, 2024, Patrick E. Corbin, a director of Atlantic Union Bankshares Corp, acquired 814 shares of phantom stock.
• The phantom stock is the economic equivalent of common stock and will be payable in cash or common stock based on the reporting person's election.
• The price of the phantom stock is $35.31 per share, based on the market closing price on the last trading day before the transaction date.
• Following the transaction, Corbin beneficially owns 26,167.387 shares of phantom stock indirectly through a non-qualified plan.
• This total includes 240.601 additional shares acquired through dividend reinvestment since the last Form 4 filing.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation, with no indication of positive or negative sentiment.

Future Outlook

The phantom stock becomes 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 executive compensation and deferred compensation plans, which are common in the banking industry.

Key Dates