Form 4: United Bankshares Inc. CEO Richard M. Adams Jr. Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Richard M. Adams Jr., CEO of United Bankshares Inc., reports acquiring restricted stock units and shares through the company's 401K plan.
Summary
- On February 20, 2025, Richard M. Adams Jr., CEO of United Bankshares Inc. (UBSI), reported transactions related to UBSI stock.
- Adams acquired 29,916 shares of common stock through a grant of restricted stock units, vesting in three equal annual installments.
- He also reported owning 163,063.392 shares of common stock directly and 15,453.2726 shares indirectly through a 401k.
- Additionally, he owns 10,986.084 shares indirectly through a trust for children.
- Adams also holds various stock options with exercise prices ranging from $32.51 to $45.30 and expiration dates between 2026 and 2030.
- He also owns 254.151 shares of phantom stock through a deferred compensation plan, payable in cash upon termination of employment.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The CEO increasing their stake in the company is generally a positive sign, indicating confidence in the company's future. The vesting schedule of the restricted stock units also suggests a long-term commitment.
Positives
- The acquisition of restricted stock units aligns the CEO's interests with those of the shareholders.
- The vesting schedule of the restricted stock units encourages long-term commitment from the CEO.
- The CEO's significant direct ownership of UBSI stock demonstrates confidence in the company's future.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- Shareholders may view the CEO's increased ownership as a positive signal.
- Employees may see the CEO's commitment as a sign of stability and growth potential.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Stock Option exercisable date |
| 02/27/2017 | Stock Option exercisable date |
| 02/26/2018 | Stock Option exercisable date |
| 02/25/2019 | Stock Option exercisable date |
| 02/24/2020 | Stock Option exercisable date |
| 02/24/2021 | Stock Option exercisable date |
| 02/28/2026 | Stock Option expiration date |
| 02/27/2027 | Stock Option expiration date |
| 02/26/2028 | Stock Option expiration date |
| 02/25/2029 | Stock Option expiration date |
| 02/24/2030 | Stock Option expiration date |
| 02/20/2025 | Date of transaction: Acquisition of restricted stock units and shares through 401k |
| 02/24/2025 | Date of filing |
Keywords
Form 4, UBSI, United Bankshares Inc, Richard M. Adams Jr., restricted stock units, stock options, phantom stock, 401k, beneficial ownership, CEO
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