United Bankshares (UBSI) director updates insider stock and phantom units

Rhea-AI Filing Summary

United Bankshares Inc. director Shelli L. Adams reported updated holdings of company stock and phantom stock units. On 01/02/2026, Adams acquired 548 shares of phantom stock at $38.34 per unit, which are payable in cash after her termination of employment with UBSI. Following this transaction, she holds 55,964 phantom stock units.

Adams also reports beneficial ownership of United Bankshares common stock, including 457,070 shares held directly, 36,800 shares held indirectly through Bray & Oakley Insurance, and 1,000 shares held indirectly by her spouse. This filing reflects equity-based compensation and current insider ownership, rather than open-market buying or selling of the company’s stock.

Insider Trade Summary

Net Buyer: 548 shares ($21,010)

Net Buy 4 txns

Insider WINTER P CLINTON

Role Director

Bought 548 shs ($21K)

Type	Security	Shares	Price	Value
Purchase	Phantom Stock	548	$38.34	$21K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 55,964 shares (Direct); Common Stock — 457,070 shares (Direct); Common Stock — 36,800 shares (Indirect, Bray & Oakley Insurance)

Footnotes (1)

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

Form 4 Insider Transactions: What Each Field Means →

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)
01/02/2026

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								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)	01/02/2026	01/02/2026	P		548		(2)	(2)	Common Stock	548	$38.34	55,964	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	01/02/2026
	** 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.

FAQ

What insider transaction did Shelli L. Adams report for UBSI?

Shelli L. Adams, a director of United Bankshares Inc. (UBSI), reported acquiring 548 shares of phantom stock on 01/02/2026, as shown in Table II.

What are Shelli L. Adams' total phantom stock holdings in United Bankshares after this filing?

After the reported transaction, Shelli L. Adams beneficially owns 55,964 phantom stock units tied to United Bankshares common stock.

At what price were the new UBSI phantom stock units recorded for Shelli L. Adams?

The 548 phantom stock units were recorded at a price of $38.34 per unit, according to Table II of the filing.

How many United Bankshares common shares does Shelli L. Adams hold directly and indirectly?

Shelli L. Adams reports 457,070 UBSI common shares held directly, 36,800 shares held indirectly through Bray & Oakley Insurance, and 1,000 shares held indirectly by her spouse.

When will the UBSI phantom stock held by Shelli L. Adams be paid out?

The filing states that shares of phantom stock are payable in cash following Shelli L. Adams’ termination of employment with UBSI.

What is the conversion ratio for Shelli L. Adams' UBSI phantom stock units?

The explanation notes a 1 for 1 ratio, indicating each phantom stock unit corresponds to one share of United Bankshares common stock for value reference.