Form 4: United Bankshares Inc. CEO Richard M. Adams Jr. Reports Stock Transactions
SEC Form 4
Richard M. Adams Jr., CEO of United Bankshares Inc., reports acquisition and disposal of common stock and derivative securities.
Summary
- Richard M. Adams Jr., the Chief Executive Officer of United Bankshares Inc. (UBSI), filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- On November 6, 2024, Adams acquired 11,100 shares of common stock at a price of $36.92 per share and disposed of 10,293 shares at $42.59.
- Following these transactions, Adams directly owns 133,147.392 shares of common stock.
- He also indirectly owns 15,136.5966 shares through a 401k and 10,986.084 shares in a trust for children.
- The report also details transactions involving derivative securities, including the exercise of stock options.
- Adams holds various stock options with exercise prices ranging from $32.51 to $45.30 and expiration dates extending to 2030.
- He also owns 254.151 shares of phantom stock acquired through deferred compensation under the United Bankshares, Inc., Non-qualified Retirement and Savings Plan.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions without indicating positive or negative implications.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, 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 stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in financial analysis.
- Comparing the frequency and size of insider trades at UBSI to those of its peers (e.g., Truist Financial, PNC Financial Services) can provide context.
- For example, if other bank CEOs are also exercising options and selling shares, it might reflect broader industry trends or personal financial planning rather than company-specific concerns.
Stakeholder Impact
- The transactions could influence investor sentiment, potentially affecting the stock price.
- The CEO's actions are closely watched by shareholders as an indicator of confidence in the company's future.
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 $45.3 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. |
| 11/06/2024 | Date of the reported transactions: acquisition and disposal of common stock and exercise of stock options. |
| 11/08/2024 | Date of the report 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.