SCHEDULE: FMR LLC & Abigail Johnson Disclose 4.2% Stake in Union Bankshares
Ownership Disclosure
FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, reporting a 4.2% beneficial ownership in Union Bankshares Inc. as of September 30, 2025.
Summary
- FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 192,253.08 shares of UNION BANKSHARES INC common stock.
- This ownership represents 4.2% of the total outstanding common stock of UNION BANKSHARES INC.
- FMR LLC holds sole voting power over 192,180.00 shares and sole dispositive power over 192,253.08 shares.
- Abigail P. Johnson holds sole dispositive power over 192,253.08 shares.
- The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to a previously filed ownership statement.
- The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: Neutral. This is a routine ownership disclosure filing, not indicative of positive or negative company performance or strategic shifts. It simply reports a passive stake.
Positives
- A significant institutional investor, FMR LLC, maintains a substantial stake in Union Bankshares Inc., indicating continued investment interest.
- The filing confirms the stake is held in the ordinary course of business, not for control-influencing purposes, suggesting a passive investment approach.
Negatives
- The reported ownership percentage of 4.2% is below the 5% threshold, which typically triggers more detailed reporting (Schedule 13D) if the intent were to influence control, thus providing less insight into potential activist intentions.
Future Outlook
No forward-looking statements or guidance for UNION BANKSHARES INC are provided in this ownership disclosure.
Management Comments
- "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities."
Industry Context
This filing is a routine disclosure of a passive investment stake by a major asset manager (FMR LLC) in a regional bank (UNION BANKSHARES INC). Such disclosures are common and reflect ongoing portfolio management activities rather than specific industry trends, unless the stake size or intent changes significantly.
Comparison to Industry Standards
- FMR LLC, as a large investment management firm, routinely holds stakes in numerous publicly traded companies, including regional banks like UNION BANKSHARES INC, as part of its diversified investment strategies.
- A 4.2% stake is a significant but non-controlling passive investment, typical for institutional investors seeking exposure to a sector or specific company without engaging in activist roles.
- This level of ownership is below the 5% threshold that would typically trigger a Schedule 13D filing, which implies an intent to influence or control the issuer.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure | The Johnson family, including Abigail P. Johnson, are the predominant owners of Series B voting common shares of FMR LLC, representing 49% of its voting power. They, along with other Series B shareholders, have a voting agreement to vote all Series B shares in accordance with the majority vote, effectively forming a controlling group for FMR LLC. | NA | This structure consolidates control over FMR LLC within the Johnson family group, influencing the strategic direction and management of the reporting entity. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional shareholder's stake, confirming a passive investment intent and no immediate plans to influence control.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of FMR LLC. |
| 2023-01-10 | Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number -23-000003) was incorporated by reference. |
| 2023-01-26 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of Abigail P. Johnson. |
| 2023-01-31 | Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number -23-000038) for Abigail P. Johnson was incorporated by reference. |
| 2025-09-30 | Date of event which requires filing of this statement. |
| 2025-11-04 | Signature date of the Schedule 13G/A filing. |
Keywords
UNION BANKSHARES INC, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investment, SEC Filing
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.