Form 4: United Bankshares Inc. Executive Vice President Reports Stock Disposals
SEC Form 4
Henry M. Kayes Jr., an Executive Vice President at United Bankshares Inc., reported the disposal of common stock to cover tax obligations, while still holding a significant amount of shares and stock options.
Summary
- On February 22nd and 23rd, 2025, Henry M. Kayes Jr., an Executive Vice President at United Bankshares Inc. (UBSI), disposed of shares of common stock to cover tax obligations.
- The transactions involved the disposal of 350, 736, and 411 shares at a price of $35.53 per share.
- Following these transactions, Kayes directly owns 34,143 shares of UBSI common stock.
- Kayes also indirectly owns 2,529.5356 shares through a 401k plan, 788 shares through immediate family, and 206.022 shares through his wife's IRA.
- Additionally, Kayes 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: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. There's no indication of unusual activity or cause for alarm.
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 to gauge management's sentiment and confidence in the company's prospects.
Comparison to Industry Standards
- Executive stock ownership is common across the banking industry.
- Comparing Kayes' holdings and transactions to those of executives at peer banks like PNC Financial Services or Truist Financial could provide a benchmark for assessing the significance of these transactions.
- Typical executive compensation packages include a mix of salary, stock options, and restricted stock units, all designed to align management's interests with those of shareholders.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, as they represent a small fraction of the total outstanding shares.
- Employees participating in the 401k plan may see slight changes in their holdings due to the executive's transactions, but the overall impact is negligible.
Key Dates
| Date | Description |
|---|---|
| 02/27/2017 | Stock options for 3,200 shares exercisable at $45.30. |
| 02/26/2018 | Stock options for 3,200 shares exercisable at $37.60. |
| 02/25/2019 | Stock options for 3,200 shares exercisable at $38.49. |
| 02/24/2020 | Stock options for 1,089 shares exercisable at $32.51. |
| 02/27/2027 | Expiration date for stock options for 3,200 shares exercisable at $45.30. |
| 02/26/2028 | Expiration date for stock options for 3,200 shares exercisable at $37.60. |
| 02/25/2029 | Expiration date for stock options for 3,200 shares exercisable at $38.49. |
| 02/24/2030 | Expiration date for stock options for 1,089 shares exercisable at $32.51. |
| 02/22/2025 | Disposal of 350 and 736 shares of common stock at $35.53 per share. |
| 02/23/2025 | Disposal of 411 shares of common stock at $35.53 per share. |
| 02/25/2025 | Date of the report filing. |
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