Form 4: United Bankshares Inc/WV Executive Vice-President Reports Stock Disposals
SEC Form 4
Darren K. Williams, an Executive Vice-President at United Bankshares Inc/WV, reported the disposal of common stock to cover tax obligations, while still holding a significant amount of shares and stock options.
Summary
- Darren K. Williams, an Executive Vice-President of United Bankshares Inc/WV, filed a Form 4 detailing changes in beneficial ownership.
- On February 23, 2024, Williams disposed of 610 shares of common stock at a price of $34.36.
- On February 24, 2024, Williams disposed of 1,093 shares of common stock at a price of $34.42.
- These transactions were likely to cover tax obligations related to stock options or restricted stock vesting.
- Following these transactions, Williams directly owns 33,790 shares of common stock.
- Williams also has indirect ownership through a Direct IRA (2,208 shares) and a 401k (3,740.5424 shares).
- Williams also holds multiple stock options with varying exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing indicates routine transactions related to executive compensation. There is no indication of significant concern or exceptional optimism.
Positives
- The reporting person continues to hold a significant number of shares and stock options in the company, indicating continued alignment with shareholder interests.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects.
Comparison to Industry Standards
- Executive compensation practices, including stock options and restricted stock units, are common across the financial services industry.
- Companies like Bank of America, JP Morgan Chase, and Wells Fargo also utilize stock-based compensation to align executive interests with shareholder value.
- The specific terms of stock option grants, such as exercise price and expiration date, are generally determined by the company's compensation committee and are benchmarked against industry peers.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- Shareholders may view the transactions as routine and related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/23/2015 | Date of stock option grant with an exercise price of $36.92 and an expiration date of 02/23/2025. |
| 02/29/2016 | Date of stock option grant with an exercise price of $35.04 and an expiration date of 02/28/2026. |
| 02/27/2017 | Date of stock option grant with an exercise price of $45.30 and an expiration date of 02/27/2027. |
| 02/26/2018 | Date of stock option grant with an exercise price of $37.60 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. |
| 02/24/2020 | Date of stock option grant with an exercise price of $32.51 and an expiration date of 02/24/2030. |
| 02/24/2021 | Date of stock option grant with an exercise price of $32.51 and an expiration date of 02/24/2030. |
| 02/23/2024 | Date of common stock disposal of 610 shares at $34.36. |
| 02/24/2024 | Date of common stock disposal of 1,093 shares at $34.42. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
| 02/23/2025 | Expiration date of stock option grant with an exercise price of $36.92. |
| 02/28/2026 | Expiration date of stock option grant with an exercise price of $35.04. |
| 02/27/2027 | Expiration date of stock option grant with an exercise price of $45.30. |
| 02/26/2028 | Expiration date of stock option grant with an exercise price of $37.60. |
| 02/25/2029 | Expiration date of stock option grant with an exercise price of $38.49. |
| 02/24/2030 | Expiration date of stock option grant with an exercise price of $32.51. |
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