Form 4: United Bankshares Inc. Executive Vice President Acquires Shares Through Stock Grant and Dividend Reinvestment
SEC Form 4 Filing
Executive Vice President Douglas Bryan Ernest reports acquisition of United Bankshares Inc. shares through restricted stock units and dividend reinvestment, along with holdings in 401k and spousal accounts.
Summary
- On February 20, 2025, Douglas Bryan Ernest, an Executive Vice President at United Bankshares Inc. (UBSI), acquired 4,808 shares of common stock through a grant of restricted stock units.
- These restricted stock units vest in three equal annual installments.
- Mr. Ernest also acquired additional shares through the Dividend Reinvestment Plan, bringing his direct holdings to 44,835.9031 shares.
- Additionally, Mr. Ernest has indirect ownership of 7,365.7776 shares through a 401k plan and 79 shares through his spouse.
- Mr. Ernest also holds multiple stock options with varying exercise prices and expiration dates.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The executive's acquisition of shares through grants and reinvestment suggests confidence in the company's future, but it's a routine transaction.
Positives
- The acquisition of shares through restricted stock units and dividend reinvestment demonstrates the executive's alignment with the company's long-term success.
- The vesting schedule of the restricted stock units encourages continued service and commitment from the executive.
- Participation in the Dividend Reinvestment Plan indicates confidence in the company's future performance and dividend payouts.
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 confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, bonus, stock options, and restricted stock units.
- The vesting schedule of the restricted stock units is a common practice to incentivize long-term performance.
- Dividend Reinvestment Plans are widely offered by companies to encourage shareholders to reinvest dividends and increase their holdings.
- Comparing the executive's holdings and transactions to those of peers at similar-sized banks (e.g., Huntington Bancshares, KeyCorp) can provide a benchmark for assessing the magnitude of insider ownership.
Stakeholder Impact
- The reported transactions may have a minor positive impact on shareholder sentiment, as they indicate insider confidence.
- The transactions do not have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Stock Option grant date |
| 02/27/2017 | Stock Option grant date |
| 02/26/2018 | Stock Option grant date |
| 02/25/2019 | Stock Option grant date |
| 02/24/2020 | Stock Option grant date |
| 02/24/2021 | Stock Option grant date |
| 02/20/2025 | Date of transaction: Acquisition of shares through restricted stock units and dividend reinvestment |
| 02/24/2025 | Date of Form 4 filing |
| 02/28/2026 | Expiration date of stock options |
| 02/27/2027 | Expiration date of stock options |
| 02/26/2028 | Expiration date of stock options |
| 02/25/2029 | Expiration date of stock options |
| 02/24/2030 | Expiration date of stock options |
Keywords
Form 4, UBSI, United Bankshares Inc., Douglas Bryan Ernest, Executive Vice President, Stock Options, Dividend Reinvestment Plan, Restricted Stock Units, Beneficial Ownership, Insider Trading
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