Form 4: United Bankshares Inc. Executive Henry M. Kayes Jr. Reports Stock Disposals
SEC Form 4 Filing
Henry M. Kayes Jr., an Executive Vice President at United Bankshares Inc., reported disposing of common stock to cover tax obligations.
Summary
- On February 23 and 24, 2024, Henry M. Kayes Jr., an EVP at United Bankshares Inc., disposed of 412 and 164 shares of common stock, respectively, to satisfy tax obligations.
- The shares were disposed of at prices of $34.36 and $34.42.
- Following these transactions, Kayes directly owns 30,201 shares of common stock.
- Kayes also indirectly owns 1,943.8566 shares through a 401k, 788 shares through immediate family, and 195.101 shares through his wife's IRA.
- Kayes also holds stock options for 1,089 shares exercisable at $32.51 (expiring 02/24/2030), 3,200 shares exercisable at $37.60 (expiring 02/26/2028), 3,200 shares exercisable at $38.49 (expiring 02/25/2029), and 3,200 shares exercisable at $45.30 (expiring 02/27/2027).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock disposals for tax purposes, a common practice.
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 seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The stock disposal by an executive could be perceived negatively by some shareholders, although it is a common practice for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/27/2017 | Date of stock option grant with exercise price of $45.30, expiring 02/27/2027 |
| 02/26/2018 | Date of stock option grant with exercise price of $37.60, expiring 02/26/2028 |
| 02/25/2019 | Date of stock option grant with exercise price of $38.49, expiring 02/25/2029 |
| 02/24/2020 | Date of stock option grant with exercise price of $32.51, expiring 02/24/2030 |
| 02/23/2024 | Date of common stock disposal of 412 shares at $34.36 |
| 02/24/2024 | Date of common stock disposal of 164 shares at $34.42 |
| 02/27/2024 | Date of signature on the Form 4 filing |
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