Form 4: United Bankshares Inc/WV: Executive Vice President Michael Proctor Reports Changes in Beneficial Ownership
SEC Form 4
Executive Vice President Michael Proctor of United Bankshares Inc/WV reports changes in beneficial ownership of common stock and stock options.
Summary
- Michael Proctor, an Executive Vice President at United Bankshares Inc/WV (UBSI), filed a Form 4 to report changes in his beneficial ownership of the company's securities.
- The reported transactions involve the disposal of common stock to cover tax obligations, with prices at $35.53 per share.
- He disposed of 181, 317 and 266 shares of common stock on February 22 and 23, 2025.
- Proctor also indirectly owns 3,966.604 shares of common stock through a 401k plan.
- He holds multiple stock options with varying exercise prices and expiration dates, including options exercisable between 2026 and 2030.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions for tax purposes. It doesn't indicate a strong positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. These filings are closely watched by investors seeking insights into management's perspective on the company's valuation and future prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in insider ownership.
Key Dates
| Date | Description |
|---|---|
| 02/29/2016 | Date exercisable for stock options at $35.04, expiring on 03/01/2026 |
| 02/27/2017 | Date exercisable for stock options at $45.3, expiring on 02/27/2027 |
| 02/26/2018 | Date exercisable for stock options at $37.6, expiring on 02/26/2028 |
| 02/25/2019 | Date exercisable for stock options at $38.49, expiring on 02/25/2029 |
| 02/24/2020 | Date exercisable for stock options at $32.51, expiring on 02/24/2030 |
| 02/22/2025 | Transaction date for disposal of common stock. |
| 02/23/2025 | Transaction date for disposal of common stock. |
| 02/25/2025 | Date of signature for the report. |
| 03/01/2026 | Expiration date for stock options at $35.04 |
| 02/27/2027 | Expiration date for stock options at $45.3 |
| 02/26/2028 | Expiration date for stock options at $37.6 |
| 02/25/2029 | Expiration date for stock options at $38.49 |
| 02/24/2030 | Expiration date for stock options at $32.51 |
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