Form 4: United Bankshares COO James J. Consagra Jr. Reports Stock Transactions
SEC Form 4 Filing
James J. Consagra Jr., Chief Operating Officer of United Bankshares Inc/WV, reports acquisition and disposal of common stock and holdings in derivative securities.
Summary
- On February 22, 2025, James J. Consagra Jr., the Chief Operating Officer of United Bankshares Inc/WV (UBSI), reported transactions involving UBSI's common stock.
- Consagra acquired 11,923 shares of common stock at $0.00 due to the vesting of performance-based restricted stock units.
- He also disposed of shares to cover tax obligations at a price of $35.53 per share, with disposals of 1,240, 2,849, 5,430 and 2,004 shares on February 22 and 23, 2025.
- Following these transactions, Consagra directly owns 130,548 shares of common stock.
- Consagra also indirectly owns 10,684.0729 shares through a 401k plan.
- He also holds various stock options with exercise prices ranging from $32.51 to $45.30 and expiration dates between 2026 and 2030.
- These options relate to a total of 76,974 shares of common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document primarily reports stock transactions, with no explicit positive or negative indicators about the company's performance.
Positives
- The acquisition of 11,923 shares due to vesting of performance-based restricted stock units suggests the achievement of certain performance goals, which could be viewed positively.
Negatives
- The disposal of shares to cover tax obligations, while common, reduces Consagra's direct holdings in the company.
Risks
- Significant stock disposals by executives could be perceived negatively by investors, potentially impacting the stock price.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Insider transactions are common across the banking industry.
- Comparing the size and frequency of Consagra's transactions to those of executives at peer banks like WesBanco or Huntington Bancshares could provide a benchmark for assessing the significance of these activities.
- The vesting of performance-based restricted stock units is a typical form of executive compensation in the financial services sector, aligning management's interests with those of shareholders.
Stakeholder Impact
- The transactions could have a minor impact on shareholders' perception of the company, depending on how they interpret the insider's actions.
- Employees participating in the 401k plan are indirectly affected by the value of UBSI shares.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Stock Option grant date with expiration date 02/28/2026, exercise price $35.04 |
| 02/27/2017 | Stock Option grant date with expiration date 02/27/2027, exercise price $45.3 |
| 02/26/2018 | Stock Option grant date with expiration date 02/26/2028, exercise price $37.6 |
| 02/25/2019 | Stock Option grant date with expiration date 02/25/2029, exercise price $38.49 |
| 02/24/2020 | Stock Option grant date with expiration date 02/24/2030, exercise price $32.51 |
| 02/24/2021 | Stock Option grant date with expiration date 02/24/2030, exercise price $32.51 |
| 02/22/2025 | Date of common stock transactions: acquisition of 11,923 shares and disposal of 1,240, 2,849, and 5,430 shares. |
| 02/23/2025 | Date of common stock transaction: disposal of 2,004 shares. |
| 02/25/2025 | Date of Form 4 filing. |
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