Atlantic Union (AUB) CFO uses company shares to cover tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Atlantic Union Bankshares Corp Executive Vice President and CFO Robert Michael Gorman reported share dispositions tied to tax withholding, not open-market selling. On February 23, 2026, 847 common shares were withheld at $38.87 per share, and on February 22, 2026, 940 shares were withheld at $40.65 per share to cover taxes on vested restricted stock awards. After these transactions, he directly held 92,330 common shares and had an additional 2,484.8214 shares held indirectly through an employee stock ownership plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Gorman Robert Michael
Role
EVP AND CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 847 | $38.87 | $33K |
| Tax Withholding | Common Stock | 940 | $40.65 | $38K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 92,330 shares (Direct);
Common Stock — 2,484.821 shares (Indirect, By Trustee of ESOP)
Footnotes (1)
- Shares withheld on vesting of restricted stock award to cover tax withholding. Based on market closing price on the trading day before the transaction date. Includes shares allocated to the reporting person in connection with an employee stock ownership plan.
FAQ
What did AUB EVP and CFO Robert Michael Gorman report in this Form 4?
Robert Michael Gorman reported share dispositions used to cover tax withholding on vested restricted stock awards. The transactions involved common stock of Atlantic Union Bankshares Corp and did not represent open-market purchases or discretionary sales of shares.
Were Robert Michael Gorman’s AUB transactions open-market sales?
No, the Form 4 identifies both transactions as tax-withholding dispositions. Shares were withheld on vesting of restricted stock awards to satisfy tax liabilities, rather than sold in open-market transactions, as clarified in the footnotes to the filing.
What role does the employee stock ownership plan play in Gorman’s AUB holdings?
The Form 4 states that 2,484.8214 AUB shares are allocated to Gorman through an employee stock ownership plan. These shares are reported as indirectly owned, with the plan’s trustee holding them on his behalf, in addition to his directly held shares.