Form 4: United Bankshares Executive Vice President Ross M. Draber Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President Ross M. Draber of United Bankshares Inc. reports the disposition of common stock to cover tax obligations and holdings of derivative securities.
Summary
- On February 23, 2024, Ross M. Draber, an Executive Vice President at United Bankshares Inc., disposed of 594 shares of common stock at a price of $34.36 per share to cover tax obligations.
- On February 24, 2024, Draber disposed of 164 shares of common stock at a price of $34.42 per share to cover tax obligations.
- Following these transactions, Draber directly owns 18,991.7288 shares of common stock and indirectly owns 4,160.8236 shares through a 401k.
- Draber also holds multiple stock options with varying exercise prices and expiration dates, exercisable for a total of 16,153 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Form 4 filings are a standard requirement for officers, directors, and principal stockholders of publicly traded companies in the United States, as mandated by the Securities and Exchange Commission (SEC).
- The reporting requirements are similar across all industries and companies subject to Section 16 of the Securities Exchange Act of 1934.
- Comparable companies like Truist Financial (TFC) or PNC Financial Services (PNC) would have similar filings when their executives trade company stock.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Date of stock option grant with an exercise price of $35.04 and an expiration date of 03/01/2026 for 2,000 shares. |
| 02/27/2017 | Date of stock option grant with an exercise price of $45.3 and an expiration date of 02/27/2027 for 2,500 shares. |
| 02/26/2018 | Date of stock option grant with an exercise price of $37.6 and an expiration date of 02/26/2028 for 3,000 shares. |
| 02/25/2019 | Date of stock option grant with an exercise price of $38.49 and an expiration date of 02/25/2029 for 3,200 shares. |
| 02/24/2020 | Date of stock option grant with an exercise price of $32.51 and an expiration date of 02/24/2030 for 1,453 shares. |
| 02/23/2024 | Date of transaction where 594 shares of common stock were disposed of at $34.36. |
| 02/24/2024 | Date of transaction where 164 shares of common stock were disposed of at $34.42. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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.