Form 4: Atlantic Union Bankshares Director Increases Stake with Phantom Stock Acquisition

Frederick Blair Wimbush, a Director at Atlantic Union Bankshares Corp, acquired 639 shares of phantom stock, increasing his indirect beneficial ownership to 11,328.928 shares.

Summary

• Frederick Blair Wimbush, a Director of Atlantic Union Bankshares Corp (AUB), acquired 639 shares of phantom stock on July 1, 2025.
• The phantom stock was acquired at a price of $31.28 per share, based on the market closing price on the trading day before the transaction date.
• Following this acquisition, Mr. Wimbush's indirect beneficial ownership of phantom stock, held by a Trustee of a Non-Qualified Plan (deferred compensation), increased to 11,328.928 shares.
• This total includes 117.472 additional shares acquired through dividend reinvestment since his last Form 4 filing.
• Each share of phantom stock is the economic equivalent of one share of common stock and is payable in cash or common stock at a time elected by the reporting person in their deferred compensation election form; however, if installments are elected, amounts are payable only in cash.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a director, including shares from dividend reinvestment, generally indicates confidence in the company's future and aligns management interests with shareholders. This is a positive signal, though a Form 4 is primarily a factual disclosure of a transaction rather than a performance report.

Positives

• Director Frederick Blair Wimbush increased his beneficial ownership of phantom stock, indicating continued alignment with shareholder interests and confidence in the company's future.
• The increase in beneficial ownership includes 117.472 shares acquired through dividend reinvestment, demonstrating ongoing value accumulation for the director and effective use of company dividends.

Future Outlook

The phantom stock acquired by the director is payable in cash or common stock at a future date elected by the reporting person in their deferred compensation election form, with installment payments being cash-only.

Industry Context

Insider transactions, such as director stock acquisitions, are often viewed by investors as a signal of management's confidence in the company's future prospects. In the banking sector, such acquisitions by directors can reinforce market confidence in the institution's stability and growth trajectory, aligning executive incentives with shareholder returns.

Comparison to Industry Standards

• While specific comparable companies or projects are not detailed in this Form 4, director acquisitions of phantom stock are a common form of executive compensation and alignment strategy across the financial services industry.
• The structure where phantom stock is economically equivalent to common stock and payable in cash or shares is a standard practice designed to align the director's financial interests directly with the performance of the company's common stock, similar to equity compensation plans at other publicly traded banks.

Stakeholder Impact

• Shareholders: The director's increased beneficial ownership, including through dividend reinvestment, aligns their interests with shareholders, potentially signaling confidence in the company's future performance and commitment to long-term value creation.
• Employees: The deferred compensation plan involving phantom stock is a component of executive compensation, which can influence overall compensation strategies within the company, particularly for senior leadership.

Next Steps

• The phantom stock will become payable in cash or common stock at a time elected by the reporting person in their deferred compensation election form.

Key Dates

Keywords

Atlantic Union Bankshares, AUB, Frederick Blair Wimbush, Form 4, Insider Transaction, Phantom Stock, Director Compensation, Deferred Compensation, Stock Acquisition, Beneficial Ownership