Atlantic Union Bankshares director acquires 527 units

The units track common stock economically and may be distributed in cash or stock, while installment distributions under the plan are payable only in cash.

Rhea-AI Filing Summary

Atlantic Union Bankshares Corp director Joel R. Shephard reported an indirect acquisition of 527 Phantom Stock units through a trustee of a non-qualified deferred compensation plan on October 1, 2026. The reported price was $37.95 per unit, based on the market closing price on the last trading day before the transaction date; the reported resulting position was 4,565.958 Phantom Stock units. Each unit is economically equivalent to one common share and is payable in cash or common stock at the time elected.

Insider Trade Summary

Grant/Award: 527 shares

Grant/Award 1 txn

Insider SHEPHARD JOEL R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1, F2	527	$37.95	$20K

Holdings After Transaction: Phantom Stock — 4,565.958 contracts (Indirect, By Trustee of Non-Qualified Plan (deferred comp))

Footnotes (2)

1. F1. Based on the market closing price on the last trading day before the transaction date.
2. F2. 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 acquired: 527 Phantom Stock units Reported per-unit price: $37.95 per Phantom Stock unit Phantom Stock units after transaction: 4,565.958 Phantom Stock units +1 more

4 metrics

Phantom Stock units acquired 527 Phantom Stock units Indirect acquisition reported October 1, 2026

Reported per-unit price $37.95 per Phantom Stock unit Based on the market closing price on the last trading day before the transaction date

Phantom Stock units after transaction 4,565.958 Phantom Stock units Reported resulting position

Common-stock equivalence 1 common share per Phantom Stock unit Economic equivalent stated for each unit

Key Terms

Phantom Stock, non-qualified deferred compensation plan, deferred compensation election form

3 terms

Phantom Stock financial

"Each share of phantom stock is the economic equivalent"

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

"under the Company's non-qualified deferred compensation plan"

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

"in the reporting person's deferred compensation election form"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Phantom Stock units did AUB director Joel R. Shephard acquire?

Joel R. Shephard reported an indirect acquisition of 527 Phantom Stock units on October 1, 2026, at a reported price of $37.95 per unit. His reported resulting position was 4,565.958 Phantom Stock units.

How are AUB Phantom Stock units distributed?

Each Phantom Stock unit is the economic equivalent of one common share and is payable in cash or common stock at the time elected by the reporting person. If distributions under the plan are elected in installments, they are payable only in cash.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/05/2026 - 01:38 PM Accepted by SEC EDGAR 10/05/2026 - 01:37 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SHEPHARD JOEL R

(Last) (First) (Middle)

C/O ATLANTIC UNION BANKSHARES CORPORATIO

4300 COX ROAD

(Street)

GLEN ALLEN VIRGINIA 23060

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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

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

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

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)	10/01/2026		A		527		(2)	(2)	Common Stock	527	$37.95	4,565.958	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.

Remarks:

	/s/ Rachael R. Lape, Attorney-in-Fact	10/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)