United Community Banks Form 4: Series I Preferred Depositary Shares Redeemed

Rhea-AI Filing Summary

United Community Banks, Inc. (UCB) Form 4 shows that Jefferson L. Harralson, EVP & CFO, disposed of 1,000 depositary shares on 09/15/2025. The filing reports the shares were redeemed by the issuer as part of a full redemption of the 6.875% Series I Non‑Cumulative Perpetual Preferred Stock, with the depository shares redeemed for cash at a $25.00 per depositary share price, resulting in $25,000 in cash for the 1,000 depositary shares. Following the redemption, the reporting person holds 0 depositary shares of this series.

The form clarifies each depositary share represents a 1/1,000th interest in a share of the Series I Preferred Stock and that the redemption returned the liquidation preference equivalent. The Form 4 was signed by an attorney‑in‑fact on behalf of the reporting person.

Positive

• Issuer completed full redemption of the Series I preferred shares, providing a clear cash settlement mechanism for holders
• $25,000 cash received by the reporting position for 1,000 depositary shares at $25.00 per share
• Form 4 properly discloses the transaction date (09/15/2025) and signature by attorney‑in‑fact (09/17/2025)

Negative

• Reporting person’s beneficial ownership in this security class reduced to zero following redemption
• Security class eliminated from holdings for this reporting person, removing any future dividend or preference exposure

Insights

Financial Analyst

TL;DR: Insider holdings in the Series I depositary shares were fully redeemed for cash, leaving zero post‑redemption exposure.

The transaction is a mandatory issuer redemption rather than an open‑market sale, so it reflects corporate capital structure action, not a voluntary insider disposition for liquidity reasons. The cash value reported equals $25.00 per depositary share, totaling $25,000 for 1,000 depositary shares. This is a routine corporate finance event tied to redemption of the underlying 6.875% Series I Preferred Stock and does not change common equity or operating performance metrics reported elsewhere.

Corporate Governance Expert

TL;DR: Redemption of the preferred series removed the reporting person's beneficial interest in that security class; disclosure is complete and routine.

The filing documents an issuer‑initiated redemption of the entire Series I preferred position, including the associated depositary shares, and shows proper Section 16 reporting through Form 4. The signature by an attorney‑in‑fact was provided. There is no indication in this filing of a change in officer status or other governance action beyond the securities redemption itself.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider HARRALSON JEFFERSON L

Role EVP, CFO

Type	Security	Shares	Price	Value
Other	Depositary Shares	1,000	$25.00	$25K

Holdings After Transaction: Depositary Shares — 0 shares (Direct)

Footnotes (1)

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. 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

HARRALSON JEFFERSON L

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CFO

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)		1,000	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 Jefferson L. Harralson (UCB) report on Form 4?

The report shows the disposition of 1,000 depositary shares of UCB's Series I Preferred on 09/15/2025, redeemed at $25.00 per depositary share.

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

The filing states the depositary shares were redeemed by the issuer in connection with the redemption of all outstanding 6.875% Series I Preferred Stock.

How much cash did the reporting person receive from the transaction?

The disposition shows a price of $25.00 per depositary share for 1,000 shares, totaling $25,000.

What is a depositary share in this filing?

Each depositary share represents a 1/1,000th interest in a share of the Series I Preferred Stock, with a $25.00 liquidation preference per depositary share.

Does the Form 4 show any change to the reporter’s officer status?

No. The filing lists the reporter as EVP, CFO and does not indicate any change in officer or director status.