Director at United Bankshares (UBSI) buys phantom stock units

Rhea-AI Filing Summary

UNITED BANKSHARES INC/WV director Clinton P. Winter increased his exposure using phantom stock. On October 8, 2025, he bought 536 units of phantom stock at $37.0949 per unit in an open‑market purchase, taking his phantom stock balance to 54,396 units.

The phantom stock is described as 1‑for‑1 with common stock and is payable in cash after his termination of employment. On the same date he also reported direct ownership of 457,070 shares of common stock and indirect holdings of 36,800 shares through Bray & Oakley Insurance and 1,000 shares held by his spouse.

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

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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)
10/08/2025

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)	10/08/2025	10/08/2025	P		536		(2)	(2)	Common Stock	536	$37.0949	54,396	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	10/08/2025
	** 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 Clinton P. Winter report?

Clinton P. Winter reported buying 536 units of phantom stock in United Bankshares on October 8, 2025, at $37.0949 per unit. This open‑market purchase increased his reported phantom stock balance to 54,396 units, according to the Form 4 filing.

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

The Form 4 shows a purchase of 536 phantom stock units at $37.0949 each. This transaction reflects an open‑market acquisition by director Clinton P. Winter and updates his total phantom stock holdings to 54,396 units after the transaction.

How does phantom stock work in the UBSI Form 4 filing?

The phantom stock in the UBSI filing is described as 1‑for‑1 with common stock and payable in cash. Payment occurs after the reporting person’s termination of employment with United Bankshares, linking its value economically to the company’s common shares.

What common stock holdings does the UBSI director report after this transaction?

After the reported transaction date, Clinton P. Winter lists 457,070 shares of United Bankshares common stock held directly. He also reports 36,800 shares held indirectly through Bray & Oakley Insurance and 1,000 shares held indirectly by his spouse.

Does the UBSI Form 4 show any insider sales by Clinton P. Winter?

The summarized Form 4 data shows one open‑market purchase of phantom stock by director Clinton P. Winter and no reported sales. Additional lines in the filing update his direct and indirect common stock holdings without indicating buy or sell activity.

Who is the insider involved in the latest UBSI Form 4 transaction?

The insider is Clinton P. Winter, a director of United Bankshares Inc. The Form 4 attributes to him a purchase of 536 phantom stock units and reports substantial direct and indirect holdings of United Bankshares common stock as of October 8, 2025.