Form 4: United Bankshares Director Reports Future Phantom Stock Acquisition

United Bankshares Inc. Director P. Clinton Winter reported the future acquisition of 511 shares of phantom stock, effective July 1, 2025, as part of her beneficial ownership disclosures.

Summary

• P. Clinton Winter, a Director of United Bankshares Inc. (UBSI), reported a future acquisition of 511 shares of phantom stock.
• The transaction date for this phantom stock acquisition is July 1, 2025, which is also its exercisable and expiration date.
• The phantom stock was acquired at a price of $37.9671 per share and is convertible on a 1-for-1 basis to common stock.
• These phantom stock shares are payable in cash following the reporting person's termination of employment with UBSI.
• Following this reported transaction, P. Clinton Winter will directly beneficially own 52,920 shares of phantom stock.
• Current non-derivative holdings include 457,070 shares of common stock held directly.
• Additionally, 36,800 shares of common stock are held indirectly through Bray & Oakley Insurance.
• An additional 1,000 shares of common stock are held indirectly by her spouse.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a director is generally viewed positively as it aligns management's interests with shareholder value, indicating confidence in the company's future. However, it is a routine compensation disclosure rather than a significant strategic or financial announcement.

Positives

• Director P. Clinton Winter is acquiring additional phantom stock, which aligns her interests with the long-term performance and shareholder value of United Bankshares Inc.
• The acquisition of phantom stock at a specified price of $37.9671 provides a clear valuation point for this form of executive compensation.

Future Outlook

The reported transaction for phantom stock acquisition is scheduled for July 1, 2025, indicating a pre-determined compensation or vesting event as part of the company's executive incentive structure.

Industry Context

Insider transactions, such as the acquisition of phantom stock by a director, are common mechanisms for executive compensation and aligning management interests with shareholder value in the banking industry. This Form 4 filing reflects a standard disclosure of such an event for United Bankshares Inc., consistent with corporate governance practices.

Related Party Transactions

• Indirect beneficial ownership of 36,800 shares of common stock through Bray & Oakley Insurance.
• Indirect beneficial ownership of 1,000 shares of common stock by spouse.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by a director can be perceived as a positive signal, indicating alignment of management's interests with long-term shareholder value.
• Employees: No direct impact on general 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.

Next Steps

• The phantom stock will become payable in cash following the reporting person's termination of employment with UBSI.

Key Dates

Keywords

United Bankshares, UBSI, P. Clinton Winter, Director, SEC Form 4, Insider Transaction, Beneficial Ownership, Phantom Stock, Equity Compensation