Form 4: UBSI EVP Exercises Options, Sells Shares for Tax

United Bankshares Inc./WV Executive Vice President William Mark Tatterson executed a pre-planned transaction, exercising stock options and selling shares for tax obligations.

Summary

• William Mark Tatterson, Executive Vice President of United Bankshares Inc./WV (UBSI), executed a pre-planned transaction on December 11, 2025, under a Rule 10b5-1(c) plan.
• He acquired 9,130 shares of common stock by exercising stock options at an exercise price of $35.04 per share.
• Concurrently, he disposed of 8,564 shares of common stock at $39.53 per share to cover tax obligations related to the option exercise.
• Following these transactions, Tatterson directly holds 89,080.8338 shares.
• He also holds indirect beneficial ownership of 9,003.6549 shares through a 401k plan and 89.5771 shares through his wife.
• The filing notes additional shares acquired via a Dividend Reinvestment Plan and the UBSI 401K plan since the last report.

Sentiment

Score: 6

Explanation: The filing reports a routine, pre-planned insider transaction involving the exercise of stock options and a subsequent sale of shares to cover tax obligations. While the executive realized value, the transaction does not signal new strategic direction or significant change in company fundamentals. The net increase in direct ownership from the exercise is small, but the overall beneficial ownership remains substantial.

Positives

• Executive Vice President William Mark Tatterson exercised 9,130 stock options, indicating a realization of value from his compensation package.
• The transaction was executed under a Rule 10b5-1(c) plan, suggesting a pre-planned and systematic approach to insider trading, which can reduce concerns about opportunistic trading.
• The exercise price of the options ($35.04) was below the sale price ($39.53), indicating a profitable transaction for the executive.

Negatives

• A significant portion of the acquired shares (8,564 out of 9,130) were immediately disposed of to cover tax liabilities, resulting in a net increase of only 566 shares in direct beneficial ownership from the option exercise.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This routine insider transaction by an executive of a bank holding company is typical for compensation-related activities and does not inherently reflect broader industry trends or competitive positioning. It is a standard disclosure for executive stock ownership changes.

Stakeholder Impact

• Shareholders: The transaction is a routine insider filing and does not provide new material information that would significantly impact shareholder value. It reflects an executive realizing value from their compensation.
• Employees: No direct impact on employees is indicated by this filing.
• Customers: No direct impact on customers is indicated by this filing.
• Suppliers: No direct impact on suppliers is indicated by this filing.
• Creditors: No direct impact on creditors is indicated by this filing.

Key Dates

Recommendation

This Form 4 details a routine, pre-planned insider transaction where an executive exercised stock options and sold a portion of the resulting shares to cover tax liabilities. Such transactions, especially when executed under a 10b5-1 plan, are generally not indicative of new fundamental information about the company's prospects. While the executive profited from the option exercise, it does not provide a strong signal for either buying or selling the stock. Investors should continue to hold based on broader company fundamentals rather than this specific insider filing.

Keywords

United Bankshares, UBSI, Insider Trading, Form 4, Stock Options, Executive Compensation, Rule 10b5-1, Financial Services, Banking