Form 4: United Bankshares EVP Exercises Stock Options

Anna J. Schultheis, Executive Vice President of United Bankshares, exercised stock options and subsequently sold shares for tax obligations.

Summary

• Executive Vice President Anna J. Schultheis of United Bankshares Inc./WV (UBSI) reported transactions on December 11, 2025.
• Schultheis acquired 1,375 shares of Common Stock by exercising stock options at a price of $35.04 per share.
• Concurrently, she disposed of 1,287 shares of Common Stock at a price of $39.53 per share to cover tax withholding obligations related to the option exercise.
• Following these transactions, her direct beneficial ownership of Common Stock is 10,615.5687 shares.
• She also holds indirect beneficial ownership of 12,902.0743 shares through a 401k plan and 1,201.951 shares indirectly through her spouse.
• The transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as an executive exercised options, indicating confidence, despite a portion being sold for tax purposes, which is a routine and expected event.

Positives

• The exercise of stock options by an executive can signal confidence in the company's future performance.
• The executive increased her direct beneficial ownership by 88 shares (1,375 acquired 1,287 disposed).
• Additional shares were acquired through the Dividend Reinvestment Plan and the UBSI 401K plan, increasing overall indirect ownership.

Negatives

• A portion of the acquired shares (1,287 shares) was sold to cover tax liabilities, which is a common practice but reduces the net increase in direct ownership.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This is a routine insider transaction report (Form 4) specific to United Bankshares Inc. and its executive. It does not provide broader industry context or trends.

Stakeholder Impact

• The transaction is a routine insider filing and is unlikely to have a significant direct impact on shareholders, employees, customers, suppliers, or creditors. It primarily reflects executive compensation activity.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction involving the exercise of stock options and a subsequent sale for tax withholding, executed under a Rule 10b5-1 plan. It does not provide new fundamental information about United Bankshares Inc. that would warrant a change in investment recommendation. Investors should continue to hold based on broader company fundamentals and market conditions.

Keywords

United Bankshares, UBSI, Form 4, Insider Transaction, Stock Options, Executive Compensation, Anna J. Schultheis, Rule 10b5-1