Form 4: United Bankshares Inc. Executive Vice President Reports Stock Transactions
SEC Form 4 Filing
Matthew L. Humphrey, an Executive Vice President at United Bankshares Inc., reports the withholding of shares for tax purposes and additional stock acquired through a dividend reinvestment plan and the company's 401K plan.
Summary
- On September 17, 2024, Matthew L. Humphrey, an Executive Vice President of United Bankshares Inc. (UBSI), reported transactions involving UBSI's common stock.
- 79 shares were withheld to satisfy tax obligations related to vested restricted stock at a price of $37.42.
- Humphrey also acquired additional shares through the Dividend Reinvestment Plan, increasing his direct holdings to 30,370.4854 shares.
- His indirect holdings through the UBSI 401K plan increased to 3,336.0637 shares.
- Humphrey also holds multiple stock options with varying exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and standard investment practices. There is no indication of unusual or concerning activity.
Positives
- The reporting person increased their holdings in the company through the dividend reinvestment plan and 401k plan.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide 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 compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- Dividend reinvestment plans are a common way for shareholders to increase their ownership in a company over time.
- 401k plans are a standard benefit offered by many companies, allowing employees to invest in company stock and other assets.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The withholding of shares for taxes is a standard procedure.
- The dividend reinvestment and 401K plan participation reflect the executive's continued investment in the company.
Key Dates
| Date | Description |
|---|---|
| 11/02/2017 | Date of stock option grant with an exercise price of $36.1 and an expiration date of 11/02/2027. |
| 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. |
| 02/27/2017 | Date of stock option grant with an exercise price of $45.3 and an expiration date of 02/27/2027. |
| 02/24/2020 | Date of stock option grant with an exercise price of $32.51 and an expiration date of 02/24/2030. |
| 09/17/2024 | Date of the reported transactions: withholding of shares for taxes and acquisition through the Dividend Reinvestment Plan. |
| 09/18/2024 | Date of signature on the Form 4 filing. |
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