Form 4: United Community Banks CEO Transfers Shares to Family Trust

Lynn Harton, President & CEO of United Community Banks, transferred 8,329 shares of common stock to a family trust on March 13, 2024.

Summary

• Lynn Harton, the President & CEO of United Community Banks, Inc. (UCBI), filed a Form 4 on March 15, 2024, reporting a change in beneficial ownership.
• On March 13, 2024, Harton transferred 8,329 shares of UCBI common stock from his direct holdings to a family trust where he serves as trustee.
• Harton and his immediate family are the sole beneficiaries of this trust.
• Following the transaction, Harton directly owns 168,647 shares and indirectly owns 140,646 shares through the Herbert Lynn Harton Revocable Trust dated 3/16/15.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing regarding a stock transfer, with neutral sentiment.

Industry Context

This filing is a routine disclosure related to insider transactions and doesn't necessarily indicate a change in the company's financial health or strategic direction.

Related Party Transactions

• The transfer of shares to a family trust where the reporting person is a trustee and beneficiary constitutes a related party transaction.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on stakeholders as it is a transfer of ownership to a family trust and does not represent a sale of shares to the open market.

Key Dates