Form 4: United Bankshares Inc/WV Executive Vice President Julie R Gurtis Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive Vice President Julie R Gurtis reports acquisition of shares through restricted stock awards and changes in indirect ownership via 401k and IRA accounts.
Summary
- Julie R Gurtis, an Executive Vice President at United Bankshares Inc/WV, filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
- On February 20, 2025, she acquired 7,513 shares of common stock through a restricted stock award.
- These shares vest in three equal annual installments.
- She also reported owning 31,867 shares directly, which includes 587 shares previously held in a Family Trust and distributed to her on December 31, 2024.
- Gurtis also has indirect ownership of 12,368.357 shares through a 401k plan and 900 shares through her spouse as POA for a family member.
- Additionally, she owns 1,364 shares indirectly through her spouse's IRA, which includes a rollover of 1,268 shares from her spouse's 401k.
- The report also details her ownership of various stock options with different exercise prices and expiration dates, totaling 13,053 shares.
- Additional stock was acquired in the Dividend Reinvestment Plan.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The acquisition of shares through restricted stock awards and continued investment through 401k and dividend reinvestment plans suggest confidence in the company's future. However, it's a routine filing, so the impact is limited.
Positives
- The acquisition of 7,513 shares through a restricted stock award indicates confidence in the company's future performance.
- The vesting schedule of the restricted stock award incentivizes long-term commitment from the executive.
- The distribution of shares from the Family Trust simplifies ownership and potentially aligns interests further.
- Continued participation in the 401k and Dividend Reinvestment Plan demonstrates ongoing investment in the company.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to gauge management's sentiment and alignment with shareholder interests.
Stakeholder Impact
- The reported transactions provide shareholders with insights into the executive's investment behavior and alignment with company performance.
- The vesting schedule of the restricted stock award may incentivize the executive to focus on long-term value creation.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Stock Option grant date with an exercise price of $35.04 and expiration date of 03/01/2026. |
| 02/27/2017 | Stock Option grant date with an exercise price of $45.3 and expiration date of 02/27/2027. |
| 02/26/2018 | Stock Option grant date with an exercise price of $37.6 and expiration date of 02/26/2028. |
| 02/25/2019 | Stock Option grant date with an exercise price of $38.49 and expiration date of 02/25/2029. |
| 02/24/2020 | Stock Option grant date with an exercise price of $32.51 and expiration date of 02/24/2030. |
| 12/31/2024 | Distribution of 587 shares from Family Trust to Julie R Gurtis. |
| 02/20/2025 | Date of transaction: Acquisition of 7,513 shares through restricted stock award. |
| 02/24/2025 | Date of report signature. |
Keywords
beneficial ownership, Form 4, United Bankshares, UBSI, stock options, restricted stock, 401k, IRA, dividend reinvestment, executive compensation
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