Form 4: United Bankshares Inc. CEO Richard M. Adams Jr. Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Richard M. Adams Jr., CEO of United Bankshares Inc., reports changes in his beneficial ownership of company stock due to tax withholding related to deferred compensation.
Summary
- Richard M. Adams Jr., CEO of United Bankshares Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- The reported transactions include the disposal of common stock to cover tax obligations related to deferred compensation.
- On February 23, 2024, 2,453 shares were disposed of at a price of $34.36.
- On February 24, 2024, 2,225 shares were disposed of at a price of $34.42.
- Following these transactions, Adams directly owns 132,340.392 shares of common stock.
- He also indirectly owns 14,405.259 shares through a 401k and 10,986.084 shares in a trust for children.
- The report also details Adams' ownership of various stock options with exercise prices ranging from $32.51 to $45.30 and expiration dates between 2025 and 2030.
- Additionally, Adams holds 254.151 shares of phantom stock through a non-qualified retirement and savings plan, which are payable in cash upon termination of employment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in the CEO's holdings, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 02/23/2015 | Date of stock option grant with an exercise price of $36.92 and an expiration date of 02/23/2025. |
| 02/29/2016 | Date of stock option grant with an exercise price of $35.04 and an expiration date of 02/28/2026. |
| 02/27/2017 | Date of stock option grant with an exercise price of $45.30 and an expiration date of 02/27/2027. |
| 02/26/2018 | Date of stock option grant with an exercise price of $37.6 and an expiration date of 02/26/2028. |
| 02/25/2019 | Date of stock option grant with an exercise price of $38.49 and an expiration date of 02/25/2029. |
| 02/24/2020 | Date of stock option grant with an exercise price of $32.51 and an expiration date of 02/24/2030. |
| 02/24/2021 | Date of stock option grant with an exercise price of $32.51 and an expiration date of 02/24/2030. |
| 02/23/2024 | Date of transaction where 2,453 shares of common stock were disposed of at $34.36. |
| 02/24/2024 | Date of transaction where 2,225 shares of common stock were disposed of at $34.42. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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