Form 4: AUB Director Acquires Phantom Stock Under 10b5-1 Plan

Atlantic Union Bankshares Director Patrick E. Corbin acquired 567 shares of phantom stock on October 1, 2025, under a Rule 10b5-1 plan.

Summary

• Director Patrick E. Corbin of Atlantic Union Bankshares Corp (AUB) acquired 567 shares of phantom stock.
• The transaction occurred on October 1, 2025, and was made pursuant to a Rule 10b5-1 plan.
• Each share of phantom stock is the economic equivalent of one share of common stock.
• The phantom stock is payable in cash or common stock, at the reporting person's election, or solely in cash if installment distributions were chosen.
• The acquisition price was $35.29 per phantom stock, based on the market closing price on the last trading day before the transaction.
• Following this transaction, Mr. Corbin beneficially owns a total of 32,153.891 derivative securities.
• This total includes 316.334 additional shares acquired through dividend reinvestment since the reporting person's last Form 4 filing.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a director, under a Rule 10b5-1 plan and including dividend reinvestment, indicates continued confidence in the company's future performance and aligns insider interests with shareholders.

Positives

• Director Patrick E. Corbin increased his beneficial ownership in the company by acquiring 567 shares of phantom stock, signaling continued confidence.
• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-planned acquisition strategy and adherence to insider trading compliance.
• An additional 316.334 shares were acquired through dividend reinvestment, further demonstrating ongoing investment and alignment of interests.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholders due to increased beneficial ownership.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific transaction.

Key Dates

Recommendation

The acquisition of phantom stock by a director, particularly under a pre-arranged Rule 10b5-1 plan and including dividend reinvestment, signals continued confidence in the company's long-term prospects. While not a direct open market purchase, it increases insider alignment with shareholder interests. This transaction alone is not significant enough to change a fundamental investment thesis but reinforces a 'hold' position for existing investors.

Keywords

Atlantic Union Bankshares, AUB, Patrick E. Corbin, Form 4, Insider Transaction, Phantom Stock, Director, Beneficial Ownership, Rule 10b5-1, Deferred Compensation