[Form 4] UNITED COMMUNITY BANKS INC Insider Trading Activity

Rhea-AI Filing Summary

Thomas A. Richlovsky, a director of United Community Banks, Inc. (UCB), reported a change in beneficial ownership on 09/15/2025. The filing shows the disposition of 4,000 depositary shares (each representing a 1/1,000th interest in a share of the company's 6.875% Non-Cumulative Perpetual Preferred Stock, Series I) at a price implied by a $25 liquidation preference per depositary share, leaving 0 shares beneficially owned after the transaction. The explanation states these depositary shares were redeemed by the issuer as part of a redemption of all outstanding Series I Preferred Stock, with a cash payment equivalent to $25,000 per full preferred share. The Form 4 was signed by an attorney-in-fact on 09/17/2025.

Positive

• Redemption provided liquidity to holders of the Series I Preferred Stock through a cash payment equivalent to the stated liquidation preference.
• Clear disclosure on Form 4: transaction date, amounts, and that the reporting person holds 0 shares following the redemption.

Negative

• Removal of Series I Preferred Stock reduces diversity of the issuer's capital structure by eliminating that preferred series.
• Director no longer holds the depositary shares, which removes a form of alignment between that director and holders of Series I preferred instruments.

Insights

Securities Analyst

TL;DR: Director sold/all holdings redeemed: 4,000 depositary shares redeemed, resulting in cash-out and zero remaining holdings.

The Form 4 documents a corporate redemption rather than a voluntary open-market sale by the director. The reporting code J and the filing explanation confirm the issuer redeemed all Series I Preferred Stock, which converted each depositary share to its cash liquidation preference. For investors, this is a liquidity event for holders of that series and reduces outstanding perpetual preferred obligations. The filing indicates no remaining direct beneficial ownership by the reporting person in these depositary shares.

Corporate Governance Expert

TL;DR: Redemption of Series I Preferred Stock executed; director's position closed via issuer action.

The filing shows a clean administrative redemption of the Series I instrument. From a governance perspective, redemption of a preferred series affects capital structure by removing that class from the registry. The Form 4 confirms the action was completed and that the reporting director no longer holds the depositary shares. The document is routine in form and provides clear disclosure of the corporate redemption and resulting cash payment framework.

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
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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^*

RICHLOVSKY THOMAS A

(Last) (First) (Middle)

C/O UNITED COMMUNITY BANKS, INC.

200 EAST CAMPERDOWN WAY

(Street)

GREENVILLE SC 29601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED COMMUNITY BANKS INC [ UCB ]

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)
09/15/2025

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
Depositary Shares(1)	09/15/2025		J(2)		4,000	D	$25	0	D

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

Explanation of Responses:

1. Each depositary share represents a 1/1,000th interest in a share of the Issuer's perpetual 6.875% Non-Cumulative Preferred Stock, Series I, $1.00 par value per share with a liquidation preference of $25,000 per share (equivalent to $25.00 liquidation preference per depositary share) (the "Series I Preferred Stock"). Each depositary share entitles the holder to a proportional fractional interest in all rights and preferences of the Series I Preferred Stock (including dividend, voting, redemption and liquidation rights). The depositary shares were purchased in an underwritten public offering.

2. These shares were redeemed by the issuer on September 15, 2025, in connection with the issuer's redemption of all outstanding shares of 6.875% Series I Non-Cumulative Perpetual Preferred Stock ("Preferred Stock"). The redemption resulted in a cash payment of $25,000 per share of Preferred Stock. The depository for the Preferred Stock was simultaneously redeemed, each representing a 1/1000th interest in a share of the Preferred Stock.

Remarks:

	/s/ Melinda Davis Lux, Attorney in Fact	09/17/2025
	** 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 did Thomas A. Richlovsky report on Form 4 for UCB?

The filing reports the disposition (redemption) of 4,000 depositary shares tied to the Series I Preferred Stock, leaving 0 shares beneficially owned after the transaction.

When was the transaction executed and reported?

The transaction date is 09/15/2025 and the Form 4 was signed and filed on 09/17/2025.

What price or payment was associated with the redemption?

The depositary shares were redeemed at an implied $25 liquidation preference per depositary share (equivalent to a $25,000 cash payment per full preferred share).

Why were the depositary shares disposed of according to the filing?

The filing explains the shares were redeemed by the issuer in connection with the redemption of all outstanding 6.875% Series I Non-Cumulative Perpetual Preferred Stock.

Did the reporting person sell shares on the open market?

No. The Form 4 indicates the disposition was due to an issuer redemption, not an open-market sale by the reporting person.