UBSI (UBSI) EVP uses 1,150 shares to cover equity award taxes
Rhea-AI Filing Summary
UNITED BANKSHARES INC/WV executive Henry M. Kayes Jr. reported tax-related share dispositions tied to equity awards. On February 22 and 23, he disposed of 737 and 413 shares of common stock, respectively, at $44.28 per share, as payment of tax liability by delivering securities rather than through open-market sales.
After these transactions, he directly owned 37,579.636 common shares. Additional indirect holdings were reported through a 401(k), immediate family, and a spouse’s IRA, reflecting shares held in retirement and family-related accounts.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,150 shares
Net Sell
9 txns
Insider
KAYES HENRY M JR
Role
EVP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 413 | $44.28 | $18K |
| Exercise Price or Tax Liability | Common Stock | 737 | $44.28 | $33K |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 37,579.636 shares (Direct);
Stock Option — 10,689 shares (Direct);
Common Stock — 3,145.439 shares (Indirect, By 401k);
Common Stock — 788 shares (Indirect, By Immediate Family);
Common Stock — 206.022 shares (Indirect, By Wife- IRA)
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did UBSI executive Henry M. Kayes Jr. report?
Henry M. Kayes Jr. reported two tax-withholding dispositions of UNITED BANKSHARES INC/WV common stock. He delivered 737 and 413 shares at $44.28 per share to cover tax liabilities associated with equity awards, rather than selling shares in open-market transactions.
Were the UBSI insider transactions open-market sales of stock?
No, the UBSI transactions were not open-market sales. They were coded as Form 4 code F, meaning shares were withheld or delivered to satisfy tax liabilities or exercise costs on equity awards, a common administrative mechanism rather than a discretionary stock sale.
Does the UBSI Form 4 show any indirect holdings for Henry M. Kayes Jr.?
Yes, the Form 4 lists indirect UBSI common stock holdings. These include shares held through a 401(k) plan, by immediate family, and in his wife’s IRA, indicating additional ownership interests beyond his directly held 37,579.636 common shares reported after the tax-related transactions.
What does Form 4 transaction code F mean in the UBSI filing?
In the UBSI filing, transaction code F indicates payment of an exercise price or tax liability by delivering securities. For Henry M. Kayes Jr., it shows that common shares were used to cover tax obligations tied to equity awards, not initiated as regular market sales.