United Bankshares (NASDAQ: UBSI) officer reports December 2025 share changes

Rhea-AI Filing Summary

United Bankshares Inc. executive Shelli L. Adams reported insider share and option activity dated 12/11/2025. The filing shows 3,200 common shares acquired at $35.04 per share and 2,995 shares disposed of at $39.53 per share on that date. After these transactions, she directly owns 19,842.941 common shares and indirectly holds 7,023.4462 shares in a UBSI 401K plan and 646.007 shares through immediate family. A related stock option for 3,200 underlying shares with a $35.04 conversion or exercise price, expiring 03/01/2026, is reported with 0.0000 derivative securities beneficially owned following the transaction, while several other stock option grants with exercise prices between $32.51 and $45.3 remain outstanding. Explanatory notes state that some balances include additional shares acquired through a Dividend Reinvestment Plan and the UBSI 401K plan since her prior ownership reports.

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^*

Mildren Charles J.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2025

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	12/11/2025	12/11/2025	M		3,200	A	$35.04	22,837.941	D
Common Stock	12/11/2025	12/11/2025	F		2,995	D	$39.53	19,842.941(1)	D
Common Stock								7,023.4462(2)	I	By 401k
Common Stock								646.007(1)	I	By Immediate Family

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
Stock Option	$35.04	12/11/2025	12/11/2025	M			3,200	02/29/2016	03/01/2026	Common Stock	3,200	$39.53	0.0000	D
Stock Option	$32.51							02/24/2020	02/24/2030	Common Stock	1,453		1,453	D
Stock Option	$37.6							02/26/2018	02/26/2028	Common Stock	3,200		3,200	D
Stock Option	$38.49							02/25/2019	02/25/2029	Common Stock	3,200		3,200	D
Stock Option	$45.3							02/27/2017	02/27/2027	Common Stock	3,200		3,200	D

Explanation of Responses:

1. Additional stock acquired in the Dividend Reinvestment Plan.

2. Includes additional shares acquired under the UBSI 401K plan since the date of the reporting person's last 401K ownership report.

	Shelli L. Adams	12/12/2025
	** 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.
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FAQ

What insider transaction did Shelli L. Adams report for United Bankshares (UBSI) on 12/11/2025?

The report shows two common stock transactions on 12/11/2025: 3,200 shares acquired at $35.04 per share and 2,995 shares disposed of at $39.53 per share, both identified with transaction codes M and F.

How many United Bankshares (UBSI) shares does Shelli L. Adams now own directly?

Following the reported transactions, Shelli L. Adams is shown as directly beneficially owning 19,842.941 shares of United Bankshares common stock.

What indirect United Bankshares (UBSI) holdings are reported for Shelli L. Adams?

The filing reports indirect ownership of 7,023.4462 United Bankshares common shares through a UBSI 401K plan and 646.007 shares held by immediate family.

What changes are shown in Shelli L. Adams’s United Bankshares stock options?

One stock option on United Bankshares common stock for 3,200 shares with a $35.04 conversion or exercise price and a 03/01/2026 expiration is reported with 0.0000 derivative securities beneficially owned following the transaction.

Which United Bankshares stock options does Shelli L. Adams still hold after this Form 4?

After the reported activity, Shelli L. Adams continues to beneficially own stock options on United Bankshares common stock, including 1,453 shares at a $32.51 conversion or exercise price (expiring 02/24/2030) and several grants of 3,200 shares each at $37.6, $38.49, and $45.3 with expirations between 02/26/2028 and 02/27/2027.

What do the explanatory notes say about Shelli L. Adams’s UBSI share balances?

One note states that certain shares reflect additional stock acquired in the Dividend Reinvestment Plan, and another explains that 401K holdings include additional shares acquired under the UBSI 401K plan since the date of the reporting person's last 401K ownership report.