Form 4: Executive Vice President Michael Proctor Reports Changes in Beneficial Ownership of United Bankshares Inc/WV (UBSI) Stock
SEC Form 4 Filing
Executive Vice President Michael Proctor reports acquisition of United Bankshares Inc/WV (UBSI) stock through restricted stock awards and dividend reinvestment, along with holdings in a 401k plan.
Summary
- Michael Proctor, an Executive Vice President at United Bankshares Inc/WV (UBSI), filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On February 20, 2025, Proctor acquired 2,176 shares of common stock through a restricted stock award.
- These shares vest in three equal annual installments.
- He also acquired additional stock through the Dividend Reinvestment Plan, bringing his direct holdings to 10,677.3609 shares.
- Proctor's indirect holdings include 3,966.604 shares through the UBSI 401k plan.
- The report also details Proctor's holdings of stock options with various exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing indicating stock transactions by an executive. The acquisitions suggest confidence, but it's standard practice.
Positives
- The acquisition of shares through restricted stock awards and dividend reinvestment indicates confidence in the company's future performance.
- The vesting schedule of the restricted stock awards aligns Proctor's interests with the long-term success of the company.
Future Outlook
The vesting schedule of the restricted stock awards suggests a commitment to the company's long-term performance.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.
Comparison to Industry Standards
- Comparing the stock option grants to those of executives at peer regional banks would provide context on the competitiveness of UBSI's compensation packages.
- Analyzing the vesting schedules of restricted stock awards at comparable companies would offer insights into UBSI's approach to executive compensation and retention.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The executive's stock ownership aligns his interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Date of Stock Option grant with an exercise price of $35.04 and expiration date of 03/01/2026 |
| 02/27/2017 | Date of Stock Option grant with an exercise price of $45.3 and expiration date of 02/27/2027 |
| 02/26/2018 | Date of Stock Option grant with an exercise price of $37.6 and expiration date of 02/26/2028 |
| 02/25/2019 | Date of Stock Option grant with an exercise price of $38.49 and expiration date of 02/25/2029 |
| 02/24/2020 | Date of Stock Option grant with an exercise price of $32.51 and expiration date of 02/24/2030 |
| 02/20/2025 | Date of transaction: Acquisition of common stock through restricted stock awards and dividend reinvestment. |
| 02/24/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, beneficial ownership, stock options, restricted stock, UBSI, United Bankshares Inc/WV, Michael Proctor, Dividend Reinvestment Plan, 401k
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