WSBC Form 4: Director Purchase of Series B Depositary Shares
Rhea-AI Filing Summary
James W. Cornelsen, a director of WesBanco, Inc., purchased 10,000 depositary shares on 09/17/2025 at a price of $25 per depositary share, resulting in beneficial ownership of 10,000 depositary shares. Each depositary share represents a 1/40th interest in a share of WesBanco's 7.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. The depositary shares were acquired in an underwritten public offering. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/18/2025.
Positive
- Director acquisition disclosed: James W. Cornelsen purchased 10,000 depositary shares, showing an insider buy reported on Form 4.
- Clear transaction detail: Transaction date (09/17/2025), price ($25), and post-transaction beneficial ownership (10,000) are all provided.
- Source disclosed: The depositary shares were purchased in an underwritten public offering, which is explicitly stated.
Negative
- None.
Insights
TL;DR: A director purchased 10,000 depositary shares in an underwritten offering, showing an insider acquisition of preferred-linked securities.
The transaction is a direct purchase by a company director of depositary shares tied to the Series B preferred with a stated 7.375% fixed-rate reset feature. The purchase price was $25 per depositary share and the filing reports beneficial ownership of 10,000 depositary shares following the transaction. This is a straightforward insider acquisition disclosed on Form 4; there are no reported dispositions, derivative positions, or additional contextual financial data in the filing.
TL;DR: Director-level insider bought depositary shares in an underwritten offering; filing properly discloses the change in beneficial ownership.
The Form 4 identifies the reporting person as a director and shows a single non-derivative purchase transaction executed on 09/17/2025. The filing includes an explanation that each depositary share equals a 1/40th interest in Series B preferred shares and notes the underwritten public offering as the acquisition source. The report was executed via attorney-in-fact signature per the filing. No governance concerns or unusual reporting issues are evident from the disclosed content.