Form 4: United Bankshares Director Peter A. Converse Sells 5,000 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Director Peter A. Converse of United Bankshares Inc/WV (UBSI) sold 5,000 shares of common stock at $40 per share on November 6, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On November 6, 2024, Peter A. Converse, a director of United Bankshares Inc/WV (UBSI), sold 5,000 shares of the company's common stock.
- The sale was executed at a price of $40 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on June 24, 2024.
- Following the transaction, Converse directly owns 434,769 shares of UBSI common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale under a pre-arranged trading plan. It doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Sales by insiders are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific inside information at the time of the sale.
Stakeholder Impact
- The sale of shares by a director could have a minor impact on shareholder confidence, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| June 24, 2024 | Date the Rule 10b5-1 trading plan was adopted by Peter A. Converse. |
| November 06, 2024 | Date of the stock sale transaction. |
| November 07, 2024 | Date of the Form 4 filing. |
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