Form 4: United Bankshares Inc/WV Executive Vice President Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive Vice President Ross M Draber reports changes in beneficial ownership of United Bankshares Inc/WV stock, including tax withholding, dividend reinvestment, and 401k acquisitions.
Summary
- Ross M Draber, an Executive Vice President at United Bankshares Inc/WV, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On September 17, 2024, 142 shares of common stock were withheld to satisfy tax obligations related to vested restricted stock.
- Draber also acquired additional shares through the Dividend Reinvestment Plan, increasing direct holdings to 19,065.0167 shares.
- Additionally, Draber's indirect holdings increased by 4,600.5637 shares through the UBSI 401K plan.
- Draber also holds multiple stock options with varying exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing primarily reflects routine transactions related to tax obligations, dividend reinvestment, and 401k contributions. The increased holdings suggest a degree of confidence, but the tax withholding is a neutral event.
Positives
- The acquisition of additional shares through the Dividend Reinvestment Plan indicates confidence in the company's future performance.
- Increased holdings in the 401K plan suggest a positive outlook on the company's long-term prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a common practice in financial analysis, with firms like Morgan Stanley and Goldman Sachs tracking Form 4 filings to gauge sentiment.
- Comparing the volume and nature of insider transactions (purchases vs. sales) against peers like Truist Financial or PNC Financial Services can provide a relative view of management's confidence.
- Dividend Reinvestment Plans are standard practice for many financial institutions, and the level of participation by executives can be compared to industry averages.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The tax withholding impacts the executive's net shareholding, while dividend reinvestment increases it.
Key Dates
| Date | Description |
|---|---|
| 02/23/2015 | Date of exercisable for stock option with a price of $36.92. |
| 02/29/2016 | Date of exercisable for stock option with a price of $35.04. |
| 02/27/2017 | Date of exercisable for stock option with a price of $45.3. |
| 02/26/2018 | Date of exercisable for stock option with a price of $37.6. |
| 02/25/2019 | Date of exercisable for stock option with a price of $38.49. |
| 02/24/2020 | Date of exercisable for stock option with a price of $32.51. |
| 02/23/2025 | Expiration date for stock option with a price of $36.92. |
| 02/26/2028 | Expiration date for stock option with a price of $37.6. |
| 02/25/2029 | Expiration date for stock option with a price of $38.49. |
| 02/24/2030 | Expiration date for stock option with a price of $32.51. |
| 03/01/2026 | Expiration date for stock option with a price of $35.04. |
| 02/27/2027 | Expiration date for stock option with a price of $45.3. |
| 09/17/2024 | Date of transaction for tax withholding and dividend reinvestment. |
| 09/18/2024 | Date of signature for the Form 4 filing. |
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