Form 4: Union Bankshares Inc. Officer Patricia N. Hogan Reports Changes in Beneficial Ownership

Patricia N. Hogan, an officer of Union Bankshares Inc., reports acquisition of common stock through dividend reinvestment and a grant of restricted stock units.

Summary

• Patricia N. Hogan, an officer of Union Bankshares Inc. (UNB), filed a Form 4 with the SEC on February 27, 2025.
• The report details changes in her beneficial ownership of Union Bankshares Inc. common stock.
• On February 6, 2025, she acquired 69.802 shares through the company's Dividend Reinvestment Plan at $31.17 per share and 6.483 shares at $31.79 per share.
• On February 26, 2025, she acquired 1,694 shares through a grant of restricted stock units.
• Following these transactions, Hogan directly owns 9,655.4019 shares of Union Bankshares Inc. common stock.
• The restricted stock units are subject to vesting conditions in future periods and will be settled in shares of common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions reflect continued investment by an officer in the company, which is generally viewed favorably. The grant of restricted stock units also suggests confidence in the company's future performance.

Positives

• The acquisition of shares through the Dividend Reinvestment Plan indicates Hogan's continued investment in the company.
• The grant of restricted stock units aligns Hogan's interests with the long-term performance of the company.

Future Outlook

The restricted stock units are subject to vesting conditions in future periods, indicating a continued alignment of Hogan's interests with the company's performance.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency regarding their investment activities in the company's stock. This filing indicates an officer's continued investment in Union Bankshares Inc.

Comparison to Industry Standards

• Form 4 filings are standard practice across publicly traded companies, including peers of Union Bankshares Inc. such as Community Bank System Inc. and NBT Bancorp Inc.
• Dividend Reinvestment Plans are common mechanisms for shareholders to increase their holdings, and grants of restricted stock units are frequently used as part of executive compensation packages to incentivize performance.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The officer's continued investment may signal confidence in the company's prospects.

Key Dates