Form 4: UBSI Executive Exercises Options, Adjusts Holdings

Ami L. Shaver, Executive Vice President of United Bankshares Inc., reported exercising stock options and adjusting common stock holdings.

Summary

• Ami L. Shaver, Executive Vice President of United Bankshares Inc. (UBSI), reported transactions involving the company's common stock on December 11, 2025.
• Shaver exercised stock options to acquire 2,000 shares of common stock at an exercise price of $35.04 per share.
• Concurrently, 1,876 shares of common stock were disposed of at a price of $39.53 per share, likely to cover the exercise price or tax liabilities.
• Following these transactions, Shaver directly holds 14,290.4639 shares of common stock.
• Shaver also indirectly holds 9,381.6945 shares through the UBSI 401K plan, which includes shares acquired via the Dividend Reinvestment Plan and the 401K plan since the last report.
• Shaver retains several unexercised stock options, including 906 shares at an exercise price of $32.51 (expiring 02/24/2030), 2,000 shares at $37.60 (expiring 02/26/2028), 2,000 shares at $38.49 (expiring 02/25/2029), and 2,000 shares at $45.30 (expiring 02/27/2027).

Sentiment

Score: 7

Explanation: The filing indicates a routine, profitable exercise of stock options by an executive, which is generally a positive sign of executive engagement and value realization. The disposition of shares is likely for tax purposes, a common occurrence, and does not suggest a negative outlook on the company.

Positives

• Executive Ami L. Shaver exercised 2,000 stock options, indicating confidence or a strategic move to realize value from previously granted equity.
• The exercise price of $35.04 was below the disposition price of $39.53, suggesting a profitable transaction for the exercised shares.
• Shaver continues to hold a significant number of shares directly (14,290.4639) and indirectly (9,381.6945 via 401k), aligning executive interests with shareholder value.
• Additional shares were acquired through the Dividend Reinvestment Plan and the 401K plan, demonstrating ongoing investment in the company.

Negatives

• The disposition of 1,876 shares, likely for tax purposes or to cover exercise costs, reduces the direct beneficial ownership of common stock.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Exercise of 2,000 stock options at $35.04 per share by Executive Vice President Ami L. Shaver.
• Disposition of 1,876 shares of common stock at $39.53 per share by Executive Vice President Ami L. Shaver, likely for tax or exercise cost coverage.
• Acquisition of additional shares through the Dividend Reinvestment Plan and the UBSI 401K plan, contributing to indirect beneficial ownership.

Stakeholder Impact

• Shareholders: The executive's exercise of options and continued significant holdings (direct and indirect) align their interests with those of shareholders, potentially signaling confidence in the company's long-term value. The disposition of shares is a routine event and unlikely to have a material impact on the broader market.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction where an executive exercised stock options and subsequently sold a portion of the acquired shares, likely to cover taxes and exercise costs. The transaction itself is not indicative of a significant change in the company's fundamentals or future prospects. The executive retains substantial direct and indirect holdings, suggesting continued alignment with shareholder interests. Therefore, based solely on this filing, a 'hold' recommendation is appropriate as there's no new information to warrant a change in investment thesis.

Keywords

United Bankshares, UBSI, Form 4, Insider Trading, Stock Options, Executive Compensation, Share Holdings, Ami L. Shaver, Common Stock, Dividend Reinvestment Plan, 401K