Form 4: Atlantic Union Bankshares Director Wimbush Reports Phantom Stock Acquisition

Director Frederick Blair Wimbush reports acquisition of phantom stock in Atlantic Union Bankshares Corp through a non-qualified deferred compensation plan.

Summary

• On October 1, 2024, Frederick Blair Wimbush, a director of Atlantic Union Bankshares Corp, acquired 431 shares of phantom stock.
• The phantom stock is held indirectly through a trustee of a non-qualified plan.
• Each share of phantom stock is equivalent to one share of common stock and becomes payable in cash or common stock upon termination of service as a director.
• The price of the phantom stock is $37.67 per share, based on the market closing price on the last trading day before the transaction date.
• Following the reported transaction, Wimbush beneficially owns 9,235.04 derivative securities.
• This amount includes 70.644 additional shares acquired through dividend reinvestment since the last Form 4 filing.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.

Future Outlook

The phantom stock becomes payable, in cash or common stock, at the election of the reporting person, upon the reporting person's termination of service as a director; 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 is a routine disclosure related to executive compensation and holdings, common in the financial services industry.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects a change in the director's holdings.

Key Dates