United Bankshares (UBSI) Executive Chair reports Form 4 option and stock trades

Rhea-AI Filing Summary

United Bankshares, Inc. Executive Chairman and director Shelli L. Adams reported insider transactions in the company’s common stock dated 12/11/2025.

She exercised 33,300 stock options at an exercise price of $35.04 per share, receiving the same number of common shares, and on the same date disposed of 31,233 common shares at a price of $39.53 per share. After these transactions, she directly owned 862,926.4143 common shares, with additional indirect holdings through an IRA, a 401(k) plan, a corporation, immediate family, and her spouse’s IRA.

Footnotes explain that some reported positions include additional shares acquired through a dividend reinvestment plan and the UBSI 401(k) plan since her prior ownership report.

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

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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^*

ADAMS RICHARD M SR

(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
X	Officer (give title below)		Other (specify below)
	Executive Chairman

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		33,300	A	$35.04	894,159.4143	D
Common Stock	12/11/2025	12/11/2025	F		31,233	D	$39.53	862,926.4143(1)	D
Common Stock - Direct IRA								7,959.145(1)	D
Common Stock								80,122.9889(2)	I	By 401k
Common Stock								1,400	I	By Corporation
Common Stock								24,729.1507(1)	I	By Immediate Family
Common Stock								4,215.235(1)	I	By Wife- IRA

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			33,300	02/29/2016	02/28/2026	Common Stock	33,300	$39.53	0.0000	D
Stock Option	$32.51							02/24/2020	02/24/2030	Common Stock	44,083		44,083	D
Stock Option	$32.51							02/24/2021	02/24/2030	Common Stock	22,041		22,041	D
Stock Option	$37.6							02/26/2018	02/26/2028	Common Stock	49,519		49,519	D
Stock Option	$38.49							02/25/2019	02/25/2029	Common Stock	33,910		33,910	D
Stock Option	$45.3							02/27/2017	02/27/2027	Common Stock	49,519		49,519	D

Explanation of Responses:

1. Additional stock acquired in the Dividend Reinvestment Plan.

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

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

What insider transactions did United Bankshares (UBSI) Executive Chairman Shelli L. Adams report?

Shelli L. Adams reported transactions in United Bankshares, Inc. common stock dated 12/11/2025. She exercised 33,300 stock options at $35.04 per share, acquiring 33,300 common shares, and disposed of 31,233 common shares at $39.53 per share.

How many United Bankshares (UBSI) shares does Shelli L. Adams own after these transactions?

After the reported 12/11/2025 transactions, Shelli L. Adams directly owned 862,926.4143 United Bankshares common shares. Indirectly, she held 7,959.145 shares through a direct IRA, 80,122.9889 shares through a 401(k), 1,400 shares through a corporation, 24,729.1507 shares through immediate family, and 4,215.235 shares through her wife’s IRA.

What stock options in United Bankshares (UBSI) common stock does Shelli L. Adams hold after the reported exercise?

Following the 33,300-share option exercise at $35.04 (leaving 0 of that grant), Shelli L. Adams held stock options with exercise prices of $32.51 for 44,083 shares (expiring 02/24/2030) and 22,041 shares (expiring 02/24/2030), $37.60 for 49,519 shares (expiring 02/26/2028), $38.49 for 33,910 shares (expiring 02/25/2029), and $45.30 for 49,519 shares (expiring 02/27/2027.

What is Shelli L. Adams’s role and relationship to United Bankshares (UBSI)?

Shelli L. Adams is identified as both a Director and an Officer of United Bankshares, Inc., with the officer title of Executive Chairman.

When is the earliest transaction date reported for United Bankshares (UBSI) in this Form 4?

The earliest transaction date reported for the insider transactions in United Bankshares, Inc. common stock is 12/11/2025.

What plans contributed additional United Bankshares (UBSI) shares to Shelli L. Adams’s reported holdings?

According to the footnotes, some of Shelli L. Adams’s reported holdings include additional stock acquired in a Dividend Reinvestment Plan and additional shares acquired under the UBSI 401(k) plan since her last 401(k) ownership report.