[Form 4] United Bankshares Inc Insider Trading Activity

Rhea-AI Filing Summary

LCI Industries (LCII) – Form 4 insider transaction

Director James F. Gero filed a Form 4 covering equity awards dated 30 June 2025. The filing shows no open-market trades of common shares; instead it documents routine director compensation in the form of deferred and restricted stock units.

• Non-derivative holdings: Gero continues to hold 319,486 shares of LCII common stock directly; no shares were bought or sold in the period.
• Derivative awards granted:
  • 316 Deferred Stock Units (DSUs) awarded at a reference price of $91.19 per share. DSUs settle in one share each when board service concludes. Total DSUs now stand at 10,753 (includes 135 dividend-equivalent units).
  • 1,709 Restricted Stock Units (RSUs) granted; these vest in full on the earlier of 15 May 2026 or the 2026 annual meeting. Current RSU balance: 1,709 (includes 22 dividend-equivalent units).

No 10b5-1 trading plan was indicated, and the director remains classified as an independent board member (no officer role).

The transaction modestly increases the director’s aligned, at-risk equity exposure but is routine compensation rather than an active market purchase. As a result, the filing is generally viewed as neutral from a valuation or near-term trading perspective.

Positive

• Director’s equity stake increases through additional DSUs and RSUs, modestly enhancing management-shareholder alignment.

Negative

• No open-market purchase; the awards are part of routine compensation and therefore provide limited bullish signal.
• Small size relative to existing holdings; the incremental 2,025 units represent less than 1% of the director’s current common share position.

Insights

Securities Analyst

TL;DR: Routine equity grants; no open-market buying; neutral impact.

The Form 4 discloses standard quarterly director compensation—316 DSUs and 1,709 RSUs—with no common shares bought or sold. Beneficial ownership rises marginally, but the stake was already sizeable at 319k shares. Because the awards are non-cash and subject to vesting or service conditions, they do not reflect an active investment decision and provide little incremental signal on future fundamentals or market sentiment. I therefore view the filing as informational but not valuation-changing.

Corporate Governance Expert

TL;DR: Compensation aligned with long-term value; governance norms intact.

The mix of DSUs (settle on departure) and RSUs (one-year vest) follows best-practice governance by tying director pay to long-term share performance. The additional dividend-equivalent units preserve economic parity with cash dividends, a standard plan feature. No red flags—such as accelerated vesting, unusual pricing, or complex derivatives—are present. Overall, the disclosure reinforces alignment but is not materially impactful to shareholders.

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^*

WINTER P CLINTON

(Last) (First) (Middle)

514 MARKET ST

(Street)

PARKERSBURG WV 26101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED BANKSHARES INC/WV [ UBSI ]

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)
07/01/2025

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
Common Stock								457,070	D
Common Stock								36,800	I	Bray & Oakley Insurance
Common Stock								1,000	I	By Spouse

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)	07/01/2025	07/01/2025	P		511		(2)	(2)	Common Stock	511	$37.9671	52,920	D

Explanation of Responses:

1. 1 for 1

2. Shares of phantom stock are payable in cash following the reporting persons termination of employment with UBSI.

	Shelli L. Adams	07/01/2025
	** 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

How many LCII common shares does James F. Gero now own?

He holds 319,486 common shares directly, plus derivative rights to 10,753 DSUs and 1,709 RSUs.

What was the transaction date reported on the LCII Form 4?

The insider transaction was dated June 30, 2025.

What are the vesting terms of the 1,709 RSUs granted to the director?

They vest in full on the earlier of May 15, 2026 or the next annual shareholder meeting.

Did the filing indicate a Rule 10b5-1 trading plan for LCII shares?

No, the director did not check the box indicating a 10b5-1 plan.

What price was referenced for the 316 deferred stock units?

The Form lists a reference price of $91.19 per unit.