United Bankshares director buys phantom stock units

Q: What is the price and size of the phantom stock purchase reported for UBSI?

The filing shows a purchase of 609 Phantom Stock units at $47.18 per unit. Each unit is described as 1 for 1 with UBSI common stock, but is payable in cash following the reporting person’s termination of employment with UNITED BANKSHARES INC/WV.

Q: What direct UBSI common stock holdings does WINTER P CLINTON report?

The Form 4 lists 458,658 UBSI common shares held directly by WINTER P CLINTON as of 2026-08-31. This figure is presented as the total shares of common stock owned directly following the reported phantom stock transaction.

Q: What indirect UBSI common stock holdings are associated with WINTER P CLINTON?

Indirect UBSI common stock holdings reported include 36,800 shares held through Bray & Oakley Insurance and 1,000 shares held by spouse. Both positions are identified as indirect ownership in the Form 4 holding entries.

Q: Are the UBSI phantom stock units settled in stock or cash for WINTER P CLINTON?

According to the footnotes, the Phantom Stock units are payable in cash after the reporting person’s termination of employment with UBSI. They track UBSI common stock value 1 for 1 but do not represent actual shares being issued.

For UNITED BANKSHARES INC/WV (UBSI), director WINTER P CLINTON reported purchasing 609 units of Phantom Stock on 2026-08-31 at $47.18 per unit, each representing 1-for-1 with UBSI common stock.

Filing Impact

(Moderate)

Filing Sentiment

(Positive)How Sentiment works

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Form Type

Rhea-AI Filing Summary

For UNITED BANKSHARES INC/WV (UBSI), director WINTER P CLINTON reported purchasing 609 units of Phantom Stock on 2026-08-31 at $47.18 per unit, each representing 1-for-1 with UBSI common stock. These phantom shares are payable in cash after the reporting person’s termination of employment. Following this transaction, the filing reports 59,287 phantom stock units held directly, plus direct common stock holdings of 458,658 shares and indirect common stock holdings of 36,800 shares through Bray & Oakley Insurance and 1,000 shares held by spouse.

Insider Trade Summary

Net Buyer: 609 shares

Net Buy 4 txns

Insider WINTER P CLINTON

Role Director

Bought 609 shs ($29K)

Type	Security	Shares	Price	Value
Purchase	Phantom Stock ^{F1, F2}	609	$47.18	$29K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 59,287 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)

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: 609 units Phantom Stock price per unit: $47.18 Phantom Stock holdings after transaction: 59,287 units +4 more

7 metrics

Phantom Stock units purchased 609 units Derivative transaction on 2026-08-31 at $47.18 per unit

Phantom Stock price per unit $47.18 Purchase price for 609 Phantom Stock units on 2026-08-31

Phantom Stock holdings after transaction 59,287 units Total Phantom Stock units held directly after the reported purchase

Direct common stock holdings 458,658 shares UBSI common stock held directly as of 2026-08-31

Indirect common stock via Bray & Oakley Insurance 36,800 shares UBSI common stock held indirectly through Bray & Oakley Insurance

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

Net buy-sell shares in this filing 609 shares Net-buy direction from derivative Phantom Stock purchase

Key Terms

Phantom Stock, underlying security, indirect ownership

3 terms

Phantom Stock financial

"security_title: "Phantom Stock" with 1 for 1 link to common stock"

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: "Common Stock" for the Phantom Stock units"

indirect ownership financial

"ownership_type: "indirect" for holdings via Bray & Oakley Insurance and spouse"

FAQ

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

What insider transaction did WINTER P CLINTON report for UBSI on 2026-08-31?

WINTER P CLINTON reported purchasing 609 units of Phantom Stock tied to UBSI common stock on 2026-08-31 at $47.18 per unit, increasing the reported phantom stock holdings to 59,287 units payable in cash after termination of employment.

What is the price and size of the phantom stock purchase reported for UBSI?

The filing shows a purchase of 609 Phantom Stock units at $47.18 per unit. Each unit is described as 1 for 1 with UBSI common stock, but is payable in cash following the reporting person’s termination of employment with UNITED BANKSHARES INC/WV.

How many UBSI phantom stock units does WINTER P CLINTON hold after this Form 4?

After the reported transaction, WINTER P CLINTON is shown holding 59,287 units of Phantom Stock. These units are linked 1-for-1 to UBSI common stock and are payable in cash after termination of employment, rather than delivering actual UBSI shares.

What direct UBSI common stock holdings does WINTER P CLINTON report?

The Form 4 lists 458,658 UBSI common shares held directly by WINTER P CLINTON as of 2026-08-31. This figure is presented as the total shares of common stock owned directly following the reported phantom stock transaction.

What indirect UBSI common stock holdings are associated with WINTER P CLINTON?

Indirect UBSI common stock holdings reported include 36,800 shares held through Bray & Oakley Insurance and 1,000 shares held by spouse. Both positions are identified as indirect ownership in the Form 4 holding entries.

Are the UBSI phantom stock units settled in stock or cash for WINTER P CLINTON?

According to the footnotes, the Phantom Stock units are payable in cash after the reporting person’s termination of employment with UBSI. They track UBSI common stock value 1 for 1 but do not represent actual shares being issued.

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

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Available on EDGAR 08/31/2026 - 12:54 PM EDT Accepted by SEC EDGAR 08/31/2026 - 12:53 PM EDT

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)
08/31/2026

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⁾	08/31/2026	08/31/2026	P		609		⁽²⁾	⁽²⁾	Common Stock	609	$47.18	59,287	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	08/31/2026
	** 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