What additional explanation is provided for certain United Bankshares (UBSI) share amounts in the filing?

The filing explains that one share amount reflects additional stock acquired in the Dividend Reinvestment Plan, and another reflects additional shares acquired under the UBSI 401(k) plan since the reporting person’s last 401(k) ownership report.

United Bankshares EVP reports option exercise and share disposal

Q: What insider transaction did United Bankshares (UBSI) report for Shelli L. Adams?

The report shows that Executive Vice President Shelli L. Adams exercised stock options for 1,375 shares of United Bankshares common stock at $35.04 per share and, in a separate transaction coded “F”, disposed of 1,287 shares at $39.53 per share on 12/11/2025.

Q: What is Shelli L. Adams’s role at United Bankshares (UBSI)?

Shelli L. Adams is listed as an officer of United Bankshares Inc., serving as Executive Vice President, and is the reporting person on this insider transaction report.

Q: What stock options for United Bankshares (UBSI) are listed as still held by Shelli L. Adams?

The filing lists remaining stock options held directly by Shelli L. Adams, including options with exercise prices of $32.51 (for 793 shares, expiring 02/24/2030), $37.6 (for 1,750 shares, expiring 02/26/2028), $38.49 (for 1,750 shares, expiring 02/25/2029), and $45.3 (for 1,750 shares, expiring 02/27/2027).

Q: What does the Form 4 say about United Bankshares (UBSI) shares in the 401(k) plan for Shelli L. Adams?

The report states that Shelli L. Adams has 12,902.0743 shares of United Bankshares common stock held indirectly through a 401(k) plan, and notes that this includes additional shares acquired under the UBSI 401(k) plan since the date of the last 401(k) ownership report.

United Bankshares Inc. Executive Vice President Shelli L. Adams reported insider transactions in company common stock dated 12/11/2025.

Accepted by SEC EDGAR 12/12/2025 - 01:10 PM EST

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Filing Sentiment

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Rhea-AI Filing Summary

United Bankshares Inc. Executive Vice President Shelli L. Adams reported insider transactions in company common stock dated 12/11/2025. Adams exercised stock options covering 1,375 shares at $35.04 per share, acquiring the same number of common shares, and in a separate transaction coded “F” disposed of 1,287 shares at $39.53 per share.

After these transactions, Adams directly owned 10,615.5687 shares of United Bankshares common stock. Additional indirect holdings included 12,902.0743 shares through a 401(k) plan and 1,201.951 shares held indirectly through a spouse. The filing also lists remaining stock options with exercise prices between $32.51 and $45.3 expiring between 02/27/2027 and 02/24/2030.

Insider Trade Summary

1,375 shares exercised/converted

Exercise 3 txns

Insider Schultheis Anna J

Role Executive Vice President

Type	Security	Shares	Price	Value
Exercise	Stock Option	1,375	$39.53	$54K
Exercise	Common Stock	1,375	$35.04	$48K
Exercise Price or Tax Liability	Common Stock	1,287	$39.53	$51K
Holding	Stock Option	--	--	--
Holding	Stock Option	--	--	--
Holding	Stock Option	--	--	--
Holding	Stock Option	--	--	--
Holding	Common Stock	--	--	--
Holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 6,043 contracts (Direct); Common Stock — 10,615.5687 shares (Direct); Common Stock — 12,902.0743 shares (Indirect, By 401k); Common Stock — 1,201.951 shares (Indirect, Indirect by Spouse)

Holdings Before and After: Stock Option, 7,418 to 6,043 contracts (Direct); Common Stock, 10,527.5687 to 10,615.5687 shares (Direct)

Footnotes (2)

F1. Additional stock acquired in the Dividend Reinvestment Plan.
F2. Includes additional shares acquired under the UBSI 401K plan since the date of the reporting person's last 401K ownership report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did United Bankshares (UBSI) report for Shelli L. Adams?

The report shows that Executive Vice President Shelli L. Adams exercised stock options for 1,375 shares of United Bankshares common stock at $35.04 per share and, in a separate transaction coded “F”, disposed of 1,287 shares at $39.53 per share on 12/11/2025.

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

After the reported transactions, Shelli L. Adams directly owned 10,615.5687 shares of United Bankshares common stock, plus 12,902.0743 shares held through a 401(k) plan and 1,201.951 shares held indirectly through a spouse.

What is Shelli L. Adams’s role at United Bankshares (UBSI)?

Shelli L. Adams is listed as an officer of United Bankshares Inc., serving as Executive Vice President, and is the reporting person on this insider transaction report.

What stock options for United Bankshares (UBSI) are listed as still held by Shelli L. Adams?

The filing lists remaining stock options held directly by Shelli L. Adams, including options with exercise prices of $32.51 (for 793 shares, expiring 02/24/2030), $37.6 (for 1,750 shares, expiring 02/26/2028), $38.49 (for 1,750 shares, expiring 02/25/2029), and $45.3 (for 1,750 shares, expiring 02/27/2027).

What does the Form 4 say about United Bankshares (UBSI) shares in the 401(k) plan for Shelli L. Adams?

The report states that Shelli L. Adams has 12,902.0743 shares of United Bankshares common stock held indirectly through a 401(k) plan, and notes that this includes additional shares acquired under the UBSI 401(k) plan since the date of the last 401(k) ownership report.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Schultheis Anna J

(Last)

(First)

(Middle)

514 MARKET ST

(Street)

PARKERSBURG

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)
	Executive Vice President

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/11/2025	12/11/2025	M		1,375	A	$35.04	11,902.5687	D
Common Stock	12/11/2025	12/11/2025	F		1,287	D	$39.53	10,615.5687⁽¹⁾	D
Common Stock								12,902.0743⁽²⁾	I	By 401k
Common Stock								1,201.951	I	Indirect 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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$35.04	12/11/2025	12/11/2025	M			1,375	02/29/2016	03/01/2026	Common Stock	1,375	$39.53	0.0000	D
Stock Option	$32.51							02/24/2020	02/24/2030	Common Stock	793		793	D
Stock Option	$37.6							02/26/2018	02/26/2028	Common Stock	1,750		1,750	D
Stock Option	$38.49							02/25/2019	02/25/2029	Common Stock	1,750		1,750	D
Stock Option	$45.3							02/27/2017	02/27/2027	Common Stock	1,750		1,750	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	12/11/2025
	** 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.

Source: View Original Filing on SEC EDGAR