United Bankshares COO exercises options, withholds shares for taxes

United Bankshares Inc. executive Shelli L. Adams reported an option exercise and related share withholding.

Rhea-AI Filing Summary

United Bankshares Inc. executive Shelli L. Adams reported an option exercise and related share withholding. On 12/11/2025, the Chief Operating Officer exercised 11,100 stock options at an exercise price of $35.04 per share, converting them into common stock. To cover tax obligations, 10,411 shares of common stock were disposed of at $39.53 under transaction code F.

After these transactions, Adams directly beneficially owned 131,237 shares of United Bankshares common stock and indirectly owned 11,306.1971 shares through a 401(k) plan. The exercised options came from a grant dated 02/29/2016 with an expiration date of 02/28/2026, and that grant now has 0 options remaining. She continues to hold other stock option awards with various exercise prices and expiration dates.

Insider Trade Summary

11,100 shares exercised/converted

Exercise 9 txns

Insider CONSAGRA JAMES J JR

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Exercise	Stock Option	11,100	$39.53	$439K
Exercise	Common Stock	11,100	$35.04	$389K
Exercise Price or Tax Liability	Common Stock	10,411	$39.53	$412K
holding	Stock Option	--	--	--
holding	Stock Option	--	--	--
holding	Stock Option	--	--	--
holding	Stock Option	--	--	--
holding	Stock Option	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 65,875 contracts (Direct); Common Stock — 131,237 shares (Direct); Common Stock — 11,306.1971 shares (Indirect, By 401k)

Footnotes (1)

1. F1. Includes additional shares acquired under the UBSI 401K plan since the date of the reporting person's last 401K ownership report.

FAQ

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

Shelli L. Adams, Chief Operating Officer of United Bankshares Inc. (UBSI), reported exercising 11,100 stock options on 12/11/2025, converting them into common stock and disposing of some shares to cover taxes.

How many United Bankshares (UBSI) options did Shelli L. Adams exercise and at what price?

On 12/11/2025, Adams exercised 11,100 stock options at an exercise price of $35.04 per share, receiving an equal number of United Bankshares common shares.

How many UBSI shares were disposed of for taxes and at what price?

To satisfy tax obligations related to the option exercise, 10,411 shares of United Bankshares common stock were disposed of at a price of $39.53 per share, reported under transaction code F.

How many United Bankshares shares does Shelli L. Adams own after the reported transactions?

Following the reported transactions, Adams directly beneficially owned 131,237 shares of United Bankshares common stock and indirectly owned 11,306.1971 shares through a 401(k) plan.

What happened to Shelli L. Adams’s 2016 United Bankshares stock option grant?

The stock option grant dated 02/29/2016 for 11,100 shares with an expiration date of 02/28/2026 was fully exercised in this transaction, leaving 0 options remaining from that grant.

Does Shelli L. Adams still hold other United Bankshares stock options after this filing?

Yes. The filing shows she continues to hold several stock option awards with exercise prices including $32.51, $37.6, $38.49, and $45.3, each with specified future expiration dates.

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

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Accepted by SEC EDGAR 12/12/2025 - 02:28 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^*

CONSAGRA JAMES J JR

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2025

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	12/11/2025	12/11/2025	M		11,100	A	$35.04	141,648	D
Common Stock	12/11/2025	12/11/2025	F		10,411	D	$39.53	131,237	D
Common Stock								11,306.1971(1)	I	By 401k

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
Stock Option	$35.04	12/11/2025	12/11/2025	M			11,100	02/29/2016	02/28/2026	Common Stock	11,100	$39.53	0.0000	D
Stock Option	$32.51							02/24/2020	02/24/2030	Common Stock	14,761		14,761	D
Stock Option	$32.51							02/24/2021	02/24/2030	Common Stock	7,381		7,381	D
Stock Option	$37.6							02/26/2018	02/26/2028	Common Stock	16,060		16,060	D
Stock Option	$38.49							02/25/2019	02/25/2029	Common Stock	11,613		11,613	D
Stock Option	$45.3							02/27/2017	02/27/2027	Common Stock	16,060		16,060	D

Explanation of Responses:

1. Includes additional shares acquired under the UBSI 401K plan since the date of the reporting person's last 401K ownership report.

	Shelli L. Adams	12/11/2025
	** 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.