Form 4: United Community Banks Director Tim Wallis Reports Changes in Beneficial Ownership

Director Tim Wallis reports acquisition of restricted stock units and indirect ownership through Wallis Investment Co., LLC.

Summary

• Tim Wallis, a director of United Community Banks, Inc. (UCBI), filed a Form 4 detailing changes in his beneficial ownership.
• On May 15, 2024, Wallis acquired 2,413 shares of common stock through a grant of time-based restricted stock units.
• These restricted stock units vest the day before the Issuer's next annual meeting of shareholders.
• Wallis also indirectly owns 91,418 shares through Wallis Investment Co., LLC.
• The filing was signed by Melinda Davis Lux, Attorney in Fact, on May 16, 2024.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders, ensuring fair market practices.

Stakeholder Impact

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders, potentially fostering better corporate governance.

Key Dates