Form 4: United Bankshares Executive Chairman Richard M. Adams Sr. Reports Acquisition of Shares and Stock Options
SEC Form 4 Filing
Richard M. Adams Sr., Executive Chairman of United Bankshares Inc/WV, reports acquisition of common stock and stock options, increasing his beneficial ownership.
Summary
- Richard M. Adams Sr., Executive Chairman of United Bankshares Inc/WV (UBSI), filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- On February 20, 2025, Adams acquired 25,077 shares of common stock through a restricted stock unit grant that vests in three equal annual installments.
- He also acquired additional shares through the Dividend Reinvestment Plan.
- Adams's direct holdings of common stock after the transaction amount to 853,117.3973 shares.
- Indirect holdings include 7,718.596 shares in a Direct IRA, 76,887.3776 shares through a 401k plan, 1,400 shares by Corporation, 23,981.479 shares held by immediate family, and 4,087.829 shares in his wife's IRA.
- The report also details Adams's ownership of various stock options with exercise prices ranging from $32.51 to $45.30 and expiration dates in 2026, 2027, 2028, 2029 and 2030.
- These options relate to a total of 232,282 shares of common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports transactions and holdings. The acquisition of shares by an executive is generally viewed as a positive sign, but it's a routine disclosure.
Positives
- The acquisition of shares by the Executive Chairman could be interpreted as a positive signal, indicating confidence in the company's future performance.
- The vesting schedule of the restricted stock units incentivizes long-term commitment from the executive.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's value and prospects.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The vesting schedules and exercise prices of the options are typical for executive compensation plans in the banking industry.
- Comparing the size of Adams's holdings to those of executives at peer banks like PNC Financial Services or Truist Financial could provide further context.
Stakeholder Impact
- The reported transactions may influence investor sentiment regarding United Bankshares Inc/WV.
- The vesting schedule of the restricted stock units could incentivize the Executive Chairman to focus on long-term value creation.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Date of stock option grant with an exercise price of $35.04 and expiration date of 02/28/2026. |
| 02/27/2017 | Date of stock option grant with an exercise price of $45.3 and expiration date of 02/27/2027. |
| 02/26/2018 | Date of stock option grant with an exercise price of $37.6 and expiration date of 02/26/2028. |
| 02/25/2019 | Date of stock option grant with an exercise price of $38.49 and expiration date of 02/25/2029. |
| 02/24/2020 | Date of stock option grant with an exercise price of $32.51 and expiration date of 02/24/2030. |
| 02/24/2021 | Date of stock option grant with an exercise price of $32.51 and expiration date of 02/24/2030. |
| 02/20/2025 | Date of transaction: Acquisition of common stock through restricted stock units and Dividend Reinvestment Plan. |
| 02/24/2025 | Date of report filing. |
Keywords
Form 4, Beneficial Ownership, Stock Options, Common Stock, UBSI, United Bankshares, Adams, Executive Chairman, Dividend Reinvestment Plan, Restricted Stock Units
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.