[Form 4] Atlantic Union Bankshares Corp Insider Trading Activity

Rhea-AI Filing Summary

Joel R. Shephard, a Director of Atlantic Union Bankshares Corp (AUB), reported acquiring 567 units of Phantom Stock on 10/01/2025. The filing shows each phantom share is economically equivalent to one share of common stock and is valued using the market close prior to the transaction at $35.29 per share. Following the reported transaction, the reporting person beneficially owns 2,412.572 shares indirectly through a trustee of the companys non-qualified deferred compensation plan; that total includes 18.483 shares from dividend reinvestment since the last Form 4. The Form 4 was signed by an attorney-in-fact on 10/03/2025.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SHEPHARD JOEL R

(Last) (First) (Middle)

4300 COX ROAD

(Street)

GLEN ALLEN VA 23060

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Atlantic Union Bankshares Corp [ AUB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	10/01/2025		A		567		(2)	(2)	Common Stock	567	$35.29	2,412.572(3)	I	By Trustee of Non-Qualified Plan (deferred comp)

Explanation of Responses:

1. Based on the market closing price on the last trading day before the transaction date.

2. Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable, in cash or common stock, at the time elected by the reporting person in the reporting person's deferred compensation election form; provided, that if the reporting person elected to receive distributions under the Company's non-qualified deferred compensation plan in installments, such amounts are payable only in cash.

3. Includes 18.483 additional shares acquired through dividend reinvestment since the reporting person's last Form 4.

	/s/ Rachael R. Lape, Attorney-in-Fact	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Joel R. Shephard report for AUB?

The Form 4 reports acquisition of 567 units of Phantom Stock on 10/01/2025 at a valuation based on the prior close of $35.29 per share.

How many AUB shares does the reporting person beneficially own after the transaction?

The filing shows 2,412.572 shares beneficially owned indirectly through a trustee of the non-qualified deferred compensation plan.

What is the economic meaning of the phantom stock reported?

Each phantom stock unit is stated to be the economic equivalent of one common share and becomes payable in cash or common stock according to the reporting person's deferred compensation elections.

Does the Form 4 disclose any additional share changes since the last filing?

Yes, the beneficial ownership total includes 18.483 additional shares acquired through dividend reinvestment since the reporting person's last Form 4.

Who signed the Form 4 and when?

The Form 4 was signed by /s/ Rachael R. Lape, Attorney-in-Fact on 10/03/2025.