Rice Lacy I III 4

What Happened Lacy I. Rice III, a director of United Bankshares, reported acquiring 101 shares on 2026-01-28 via an open market or private purchase (transaction code P) at $41.59 per share, for a total of $4,201. The filing notes the shares were additional stock acquired through the company’s Dividend Reinvestment Plan (see footnote F1).

Key Details

• Transaction date: 2026-01-28
• Transaction type/code: Purchase (P) — open market or private purchase
• Price per share: $41.59; Total value: $4,201
• Shares owned after transaction: Not specified in the filing
• Footnote F1: Additional stock acquired in the Dividend Reinvestment Plan
• Filing timeliness: Reported on 2026-01-28 (same date as the transaction), so the filing appears timely

Context Dividend reinvestment plan (DRIP) purchases are often automatic and result from electing to reinvest cash dividends into additional shares rather than receiving cash. Such small, routine purchases by a director can reflect dividend reinvestment activity rather than a deliberate market-timing buy; they should be viewed as factual disclosures rather than definitive signals of management sentiment.