Form 4: United Bankshares Executive Vice President Exercises Stock Options and Reports Changes in Beneficial Ownership
SEC Form 4
Executive Vice President Douglas Bryan Ernest reports exercising stock options and subsequent changes in beneficial ownership of United Bankshares Inc/WV (UBSI) common stock.
Summary
- On November 7, 2024, Douglas Bryan Ernest, an Executive Vice President of United Bankshares Inc/WV (UBSI), exercised stock options for 5,000 shares of common stock at a price of $36.92 per share.
- Following the exercise of these options, Mr. Ernest disposed of 4,637 shares to cover taxes at a price of $42.59.
- After these transactions, Mr. Ernest directly owns 39,722.3898 shares of UBSI common stock.
- He also indirectly owns 7,233.3405 shares through a 401k plan and 79 shares through his spouse.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, reflecting standard insider trading activity. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
- Similar filings are made by executives at comparable regional banks like PNC Financial Services or Truist Financial Corporation when they exercise options or trade company stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- It assures stakeholders that insider transactions are being monitored and disclosed in accordance with regulations.
Key Dates
| Date | Description |
|---|---|
| 02/23/2015 | Date exercisable for 5,000 stock options with an expiration date of 02/23/2025 and an exercise price of $36.92. |
| 02/29/2016 | Date exercisable for 5,000 stock options with an expiration date of 02/28/2026 and an exercise price of $35.04. |
| 02/27/2017 | Date exercisable for 7,676 stock options with an expiration date of 02/27/2027 and an exercise price of $45.3. |
| 02/26/2018 | Date exercisable for 7,676 stock options with an expiration date of 02/26/2028 and an exercise price of $37.6. |
| 02/25/2019 | Date exercisable for 5,455 stock options with an expiration date of 02/25/2029 and an exercise price of $38.49. |
| 02/24/2020 | Date exercisable for 7,295 stock options with an expiration date of 02/24/2030 and an exercise price of $32.51. |
| 02/24/2021 | Date exercisable for 3,647 stock options with an expiration date of 02/24/2030 and an exercise price of $32.51. |
| 11/07/2024 | Date of transaction: Exercise of stock options and disposal of shares for tax purposes. |
| 11/08/2024 | Date of signature for the Form 4 filing. |
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