[Form 4] UNITED BANKSHARES INC/WV Insider Trading Activity

Rhea-AI Filing Summary

UNITED BANKSHARES INC/WV (UBSI) director Shelli L. Adams reported an equity-based compensation transaction involving phantom stock tied to UBSI common stock. On 11/24/2025, she acquired 882 phantom stock units at $37.1835 per unit, each representing one share of common stock. These phantom shares are payable in cash after her termination of employment with UBSI.

Following this transaction, Adams beneficially owned 55,416 phantom stock units directly. Separately from the phantom stock, she reported direct ownership of 457,070 UBSI common shares, and indirect ownership of 36,800 shares through Bray & Oakley Insurance and 1,000 shares held by her spouse. This filing records ongoing alignment of a company director with UBSI equity performance through both stock and cash-settled phantom units.

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 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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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								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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	11/24/2025	11/24/2025	P		882		(2)	(2)	Common Stock	882	$37.1835	55,416	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	11/24/2025
	** 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.

FAQ

What insider transaction did UBSI director Shelli L. Adams report?

Shelli L. Adams reported acquiring 882 phantom stock units on 11/24/2025, each tied on a 1-for-1 basis to UNITED BANKSHARES INC/WV (UBSI) common stock and priced at $37.1835 per unit.

How many UBSI phantom stock units does Shelli L. Adams now beneficially own?

After the reported transaction, Shelli L. Adams beneficially owned 55,416 phantom stock units directly, each linked to one share of UBSI common stock.

When are the UBSI phantom stock units payable to Shelli L. Adams?

The filing states that the phantom stock units are payable in cash following Shelli L. Adams’ termination of employment with UBSI.

How many UBSI common shares does Shelli L. Adams own directly?

The filing reports that Shelli L. Adams directly owns 457,070 shares of UNITED BANKSHARES INC/WV (UBSI) common stock.

What indirect UBSI shareholdings does Shelli L. Adams report?

In addition to her direct holdings, Shelli L. Adams reports indirect ownership of 36,800 UBSI shares through Bray & Oakley Insurance and 1,000 shares held by her spouse.

What is phantom stock in the context of the UBSI Form 4 filing?

The filing describes phantom stock as units that track the value of UBSI common stock on a 1-for-1 basis, but are payable in cash rather than shares after the reporting person’s termination of employment.