Atlantic Union Bankshares (AUB) director receives 473 phantom stock units as deferred compensation
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Atlantic Union Bankshares director Frederick Blair Wimbush reported a compensation-related award of phantom stock. On this date, an account associated with him acquired 473 phantom stock units at a reference value of $42.31 per unit under a non-qualified deferred compensation plan.
Each phantom stock unit is economically equivalent to one share of common stock and will be settled in cash or stock based on the director’s prior election, with installment elections payable only in cash. Following this grant, his indirect holdings under the plan total 13,741.892 phantom stock units, reflecting deferred compensation rather than an open-market trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Wimbush Frederick Blair
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 473 | $42.31 | $20K |
Holdings After Transaction:
Phantom Stock — 13,741.892 shares (Indirect, By Trustee of Non-Qualified Plan (deferred comp))
Footnotes (1)
- Based on the market closing price on the last trading day before the transaction date. 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.
Key Figures
Phantom stock units granted: 473 units
Reference price per unit: $42.31 per unit
Total phantom units after grant: 13,741.892 units
+2 more
5 metrics
Phantom stock units granted
473 units
Grant to director under non-qualified deferred compensation plan
Reference price per unit
$42.31 per unit
Market closing price on last trading day before transaction date
Total phantom units after grant
13,741.892 units
Indirect holdings following the award
Underlying common stock equivalence
1 share per unit
Each phantom unit equals one share of common stock economically
Transaction code
A (Grant, award, or other acquisition)
Characterizes the Form 4 transaction
Key Terms
Phantom Stock, non-qualified deferred compensation plan, deferred compensation election form, Phantom stock units, +1 more
5 terms
Phantom Stock financial
"Each share of phantom stock is the economic equivalent of one share of common stock."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
non-qualified deferred compensation plan financial
"distributions under the Company's non-qualified deferred compensation plan in installments, such amounts are payable only in cash."
An arrangement where an employer agrees to pay part of an employee’s salary or bonus at a later date, often to attract or keep key staff. Think of it as a company IOU or a delayed paycheck held on the company’s books rather than in a protected retirement account; investors care because these promises create future cash obligations that are typically unsecured and depend on the company’s financial health, affecting risk, liabilities, and cash-flow planning.
deferred compensation election form financial
"payable, in cash or common stock, at the time elected by the reporting person in the reporting person's deferred compensation election form"
Phantom stock units financial
"Each share of phantom stock is the economic equivalent of one share of common stock."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Grant, award, or other acquisition financial
"transaction_code_description: Grant, award, or other acquisition"
FAQ
How many phantom stock units did Frederick Blair Wimbush receive in this AUB Form 4?
He received 473 phantom stock units tied to Atlantic Union Bankshares common stock. The grant increases his indirect phantom stock holdings under the company’s non-qualified deferred compensation plan, reflecting additional deferred compensation rather than a market transaction.
What is the value reference for the phantom stock granted to the AUB director?
The 473 phantom stock units were valued using a reference price of $42.31 per unit. This price reflects the market closing price on the last trading day before the transaction date, as noted in the footnotes to the Form 4 filing.
How many phantom stock units does Frederick Blair Wimbush hold after this AUB grant?
After this grant, Frederick Blair Wimbush indirectly holds 13,741.892 phantom stock units. These units are maintained in a non-qualified deferred compensation plan and mirror the economic value of Atlantic Union Bankshares common stock rather than representing actual share ownership.
How and when are the AUB phantom stock units payable to the director?
The phantom stock units become payable in cash or common stock at the time elected by the director in his deferred compensation election form. If he elected installment distributions under the non-qualified plan, those installments are payable only in cash, not in common stock.
Is the AUB phantom stock award to Frederick Blair Wimbush an open-market stock purchase?
No, the award is not an open-market purchase. It is a grant of 473 phantom stock units as part of a non-qualified deferred compensation plan, providing economic exposure to Atlantic Union Bankshares stock without an immediate market trade in common shares.