United Bankshares director buys phantom stock units

UNITED BANKSHARES INC/WV director WINTER P CLINTON reported a purchase of phantom stock tied to UBSI shares.

Rhea-AI Filing Summary

UNITED BANKSHARES INC/WV director WINTER P CLINTON reported a purchase of phantom stock tied to UBSI shares. On February 25, 2026, the director bought 710 units of Phantom Stock at $42.5372 per unit in an open-market or private transaction. These phantom stock units are described as 1 for 1 with UBSI shares and are payable in cash after the director’s termination of employment.

Following this transaction, the director held 56,674 phantom stock units. As of the same date, reported common stock holdings were 458,658 shares directly, 36,800 shares indirectly through Bray & Oakley Insurance, and 1,000 shares indirectly held by spouse.

Insider Trade Summary

Net Buyer: 710 shares

Net Buy 4 txns

Insider WINTER P CLINTON

Role Director

Bought 710 shs ($30K)

Type	Security	Shares	Price	Value
Purchase	Phantom Stock	710	$42.5372	$30K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 56,674 contracts (Direct); Common Stock — 458,658 shares (Direct); Common Stock — 36,800 shares (Indirect, Bray & Oakley Insurance); Common Stock — 1,000 shares (Indirect, By Spouse)

Footnotes (2)

1. F1. 1 for 1
2. F2. Shares of phantom stock are payable in cash following the reporting persons termination of employment with UBSI.

FAQ

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What insider transaction did UBSI director WINTER P CLINTON report?

WINTER P CLINTON reported buying 710 units of Phantom Stock linked to UNITED BANKSHARES INC/WV at $42.5372 per unit. The transaction occurred on February 25, 2026 and was classified as an open-market or private purchase.

How many UBSI phantom stock units does the director hold after this transaction?

After the reported transaction, the director holds 56,674 units of Phantom Stock. These units are described as 1 for 1 with UBSI shares and are payable in cash following the reporting person’s termination of employment with UNITED BANKSHARES INC/WV.

What common stock holdings of UBSI does WINTER P CLINTON report?

The filing lists 458,658 UBSI common shares held directly, plus 36,800 shares held indirectly through Bray & Oakley Insurance and 1,000 shares held indirectly by the director’s spouse, all as of the February 25, 2026 reporting date.

How is the UBSI phantom stock described in the Form 4 filing?

The phantom stock is noted as 1 for 1 with UBSI shares, meaning each unit tracks one share. According to the footnote, shares of phantom stock are payable in cash after the reporting person’s termination of employment with UNITED BANKSHARES INC/WV.

Was the UBSI insider transaction a purchase or a sale?

The transaction was a purchase. The Form 4 classifies it with code P, described as a purchase in open market or private transaction, and shows the director buying 710 phantom stock units at $42.5372 per unit.

Does the Form 4 show any UBSI shares held indirectly by related entities?

Yes. In addition to direct holdings, the filing reports 36,800 UBSI common shares held indirectly through Bray & Oakley Insurance and 1,000 common shares held indirectly by the director’s spouse, all categorized as indirect ownership entries.

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Accepted by SEC EDGAR 02/25/2026 - 11:43 AM 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^*

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)
02/25/2026

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								458,658	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)	02/25/2026	02/25/2026	P		710		(2)	(2)	Common Stock	710	$42.5372	56,674	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	02/25/2026
	** 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.