United Bankshares director buys phantom stock units

Q: What insider transaction did Winter P. Clinton report at UBSI?

Winter P. Clinton reported purchasing 51 units of Phantom Stock tied to United Bankshares (UBSI) common stock at $48.77 per unit on August 4, 2026. These phantom units are cash-settled and linked 1-for-1 to UBSI common shares.

Q: How many phantom stock units does the UBSI director hold after this transaction?

After the reported purchase, Winter P. Clinton holds 58,678 phantom stock units. Each unit tracks one UBSI common share and will be payable in cash following his termination of employment with United Bankshares.

Q: What common stock holdings does Winter P. Clinton report in UBSI?

Winter P. Clinton reports 458,658 UBSI common shares held directly. He also reports 36,800 shares held indirectly through Bray & Oakley Insurance and 1,000 shares held indirectly by his spouse, as of the same reporting date.

Q: How is UBSI phantom stock structured for Winter P. Clinton?

The reported UBSI Phantom Stock units are linked 1-for-1 to common stock but are payable in cash after Clinton’s termination of employment. They provide value based on UBSI’s share price without issuing additional common shares.

Q: Was Winter P. Clinton’s UBSI phantom stock purchase under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirmative, indicating the reported UBSI phantom stock purchase was not designated as made pursuant to a Rule 10b5-1 trading plan based on the form’s disclosure.

United Bankshares director Winter P. Clinton reported buying 51 units of Phantom Stock on August 4, 2026 at $48.77 per unit.

Accepted by SEC EDGAR 08/04/2026 - 10:04 AM EDT

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

United Bankshares director Winter P. Clinton reported buying 51 units of Phantom Stock on August 4, 2026 at $48.77 per unit. Each unit tracks one share of UBSI common stock on a 1-for-1 basis and is payable in cash after his termination of employment. Following this transaction he holds 58,678 phantom stock units, 458,658 shares of common stock directly, and additional indirect holdings of 36,800 shares through Bray & Oakley Insurance and 1,000 shares held by his spouse.

Insider Trade Summary

Net Buyer: 51 shares

Net Buy 1 txn

Insider WINTER P CLINTON

Role Director

Bought 51 shs ($2K)

Type	Security	Shares	Price	Value
Purchase	Phantom Stock ^{F1, F2}	51	$48.77	$2K
Holding	Common Stock	--	--	--
Holding	Common Stock	--	--	--
Holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 58,678 contracts (Direct); Common Stock — 458,658 shares (Direct); Common Stock — 36,800 shares (Indirect, Bray & Oakley Insurance); Common Stock — 1,000 shares (Indirect, By Spouse)

Holdings Before and After: Phantom Stock, 58,627 to 58,678 contracts (Direct)

Footnotes (2)

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

Key Figures

Phantom stock units purchased: 51 units Purchase price per phantom unit: $48.77 Phantom stock holdings after transaction: 58,678 units +3 more

6 metrics

Phantom stock units purchased 51 units Phantom Stock units bought on August 4, 2026

Purchase price per phantom unit $48.77 Price per unit for Phantom Stock purchase

Phantom stock holdings after transaction 58,678 units Total Phantom Stock units reported following the purchase

Direct common stock holdings 458,658 shares UBSI common shares held directly after the reported transaction

Indirect holdings via Bray & Oakley Insurance 36,800 shares UBSI common shares reported as held indirectly through Bray & Oakley Insurance

Indirect holdings by spouse 1,000 shares UBSI common shares reported as held indirectly by spouse

Key Terms

Phantom Stock, underlying security, indirect ownership, termination of employment

4 terms

Phantom Stock financial

"Security title reported as Phantom Stock with cash-settled value"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

underlying security financial

"Underlying security title is listed as Common Stock for the derivative"

indirect ownership financial

"Common Stock holdings reported as indirect with nature of ownership details"

termination of employment financial

"Phantom stock is payable in cash following termination of employment"

FAQ

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

What insider transaction did Winter P. Clinton report at UBSI?

Winter P. Clinton reported purchasing 51 units of Phantom Stock tied to United Bankshares (UBSI) common stock at $48.77 per unit on August 4, 2026. These phantom units are cash-settled and linked 1-for-1 to UBSI common shares.

How many phantom stock units does the UBSI director hold after this transaction?

After the reported purchase, Winter P. Clinton holds 58,678 phantom stock units. Each unit tracks one UBSI common share and will be payable in cash following his termination of employment with United Bankshares.

What common stock holdings does Winter P. Clinton report in UBSI?

Winter P. Clinton reports 458,658 UBSI common shares held directly. He also reports 36,800 shares held indirectly through Bray & Oakley Insurance and 1,000 shares held indirectly by his spouse, as of the same reporting date.

How is UBSI phantom stock structured for Winter P. Clinton?

The reported UBSI Phantom Stock units are linked 1-for-1 to common stock but are payable in cash after Clinton’s termination of employment. They provide value based on UBSI’s share price without issuing additional common shares.

Was Winter P. Clinton’s UBSI phantom stock purchase under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirmative, indicating the reported UBSI phantom stock purchase was not designated as made pursuant to a Rule 10b5-1 trading plan based on the form’s disclosure.

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

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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^*

WINTER P CLINTON

(Last)

(First)

(Middle)

514 MARKET ST

(Street)

PARKERSBURG

WEST VIRGINIA

26101

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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								458,658	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⁾	08/04/2026	08/04/2026	P		51		⁽²⁾	⁽²⁾	Common Stock	51	$48.77	58,678	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	08/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR