4//SEC Filing
Jones Stanley B. Jr. 4
Accession 0001104659-21-147277
CIK 0001323648other
Filed
Dec 6, 7:00 PM ET
Accepted
Dec 7, 5:21 PM ET
Size
9.0 KB
Accession
0001104659-21-147277
Insider Transaction Report
Form 4
Jones Stanley B. Jr.
EVP and CCO, Essex Bank
Transactions
- Disposition to Issuer
Employee Stock Option
2021-12-03−20,000→ 0 totalExercise: $7.75Exp: 2031-02-22→ Common Stock (20,000 underlying) - Disposition to Issuer
Restricted Stock Units (performance-based)
2021-12-03−5,000→ 0 totalFrom: 2023-12-31→ Common Stock (5,000 underlying)
Footnotes (3)
- [F1]The option was to vest in four equal annual installments beginning on February 22, 2022.
- [F2]The transaction reported is the disposition of derivative securities pursuant to the terms of the Agreement and Plan of Reorganization, dated June 2, 2021, by and between United Bankshares, Inc. ("United") and the Issuer, pursuant to which the Issuer was merged with and into United effective December 3, 2021 (the "Merger"). The option was assumed by United in the Merger, vesting in accordance with the terms of the award agreement, and replaced with an option to purchase shares of United's common stock equal to the number of shares of the Issuer's common stock subject to such option multiplied by 0.3173, at an exercise price equal to the exercise price of such option divided by 0.3173.
- [F3]The restricted stock units were assumed by United in the Merger, vesting in accordance with the terms of the award agreement, and replaced with the right to receive a number of shares of United's common stock equal to the vested number of shares of the Issuer's common stock multiplied by 0.3173. The vesting of the performance-based restricted stock units, and the corresponding issuance of shares of common stock, had been based on the Issuer's performance with respect to the return on average assets financial metric over the three-year period ending December 31, 2023.
Documents
Issuer
Community Bankers Trust Corp
CIK 0001323648
Entity typeother
Related Parties
1- filerCIK 0001848487
Filing Metadata
- Form type
- 4
- Filed
- Dec 6, 7:00 PM ET
- Accepted
- Dec 7, 5:21 PM ET
- Size
- 9.0 KB