UBSI insider holds 54,534 phantom and 457,070 common shares

Q: What insider transaction did UBSI's Shelli L. Adams report?

On 11/07/2025 , Adams acquired 138 shares of phantom stock at $36.1724 per unit (Code P).

Q: How many phantom stock units does UBSI's insider hold after the transaction?

Adams held 54,534 phantom stock units directly after the reported transaction.

Q: What are Shelli L. Adams’s UBSI common stock holdings after the filing?

Adams held 457,070 shares directly, 36,800 shares indirectly via Bray & Oakley Insurance, and 1,000 shares indirectly by spouse.

Q: What does UBSI’s Form 4 indicate about the nature of the phantom stock?

Phantom stock is on a 1-for-1 basis with common stock and is payable in cash following termination of employment .

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

Adams is a Director of United Bankshares, Inc.

Q: Was the UBSI Form 4 filed by multiple reporting persons?

No. It was filed by one reporting person .

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

United Bankshares (UBSI) director Shelli L. Adams reported insider activity on a Form 4. On 11/07/2025, Adams acquired 138 shares of phantom stock (Transaction Code P) at $36.1724 per unit. These phantom shares are convertible on a 1-for-1 basis for common stock reference and are payable in cash following termination of employment.

Following the reported transaction, Adams beneficially owned 54,534 phantom stock units directly. Common stock holdings after the filing were 457,070 shares held directly, plus 36,800 shares held indirectly through Bray & Oakley Insurance and 1,000 shares held indirectly by spouse. The filing was made by one reporting person in the capacity of Director.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider WINTER P CLINTON

Role Director

Bought 138 shs ($5K)

Type	Security	Shares	Price	Value
Purchase	Phantom Stock	138	$36.1724	$5K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 54,534 shares (Direct); Common Stock — 457,070 shares (Direct); Common Stock — 36,800 shares (Indirect, Bray & Oakley Insurance); Common Stock — 1,000 shares (Indirect, By Spouse)

Footnotes (2)

F1. 1 for 1
F2. Shares of phantom stock are payable in cash following the reporting persons termination of employment with UBSI.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 11/07/2025 - 10:44 AM

FAQ

What insider transaction did UBSI's Shelli L. Adams report?

On 11/07/2025, Adams acquired 138 shares of phantom stock at $36.1724 per unit (Code P).

How many phantom stock units does UBSI's insider hold after the transaction?

Adams held 54,534 phantom stock units directly after the reported transaction.

What are Shelli L. Adams’s UBSI common stock holdings after the filing?

Adams held 457,070 shares directly, 36,800 shares indirectly via Bray & Oakley Insurance, and 1,000 shares indirectly by spouse.

What does UBSI’s Form 4 indicate about the nature of the phantom stock?

Phantom stock is on a 1-for-1 basis with common stock and is payable in cash following termination of employment.

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

Adams is a Director of United Bankshares, Inc.

Was the UBSI Form 4 filed by multiple reporting persons?

No. It was filed by one reporting person.

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

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)
11/07/2025

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								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)
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)
Phantom Stock	⁽¹⁾	11/07/2025	11/07/2025	P		138		⁽²⁾	⁽²⁾	Common Stock	138	$36.1724	54,534	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	11/07/2025
	** 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