ADAMS RICHARD M JR 4

What Happened

• Richard M. Adams Jr., CEO of United Bankshares, disposed of 4,530 shares on Feb 20, 2026 to satisfy a tax liability related to phantom stock. The shares were reported at $44.07 each, for a total value of $199,637. The transaction code F indicates the shares were used to cover tax withholding rather than an open-market sale.

Key Details

• Transaction date and price: Feb 20, 2026 — 4,530 shares at $44.07 (total $199,637).
• Filing date: Form 4 filed Feb 24, 2026 (timely filing).
• Shares owned after transaction: Not specified in the provided filing.
• Transaction code: F (payment of exercise price or tax liability / tax withholding).
• Footnotes from the filing:
  • F1: 1-for-1 ratio.
  • F2: These shares are phantom stock from a deferral under the company’s Non‑qualified Retirement and Savings Plan; phantom shares are exercisable immediately.
  • F3: Phantom stock is payable in cash following the reporting person’s termination of employment.

Context

• This was a withholding/disposition tied to deferred-compensation (phantom stock), not a discretionary open‑market purchase or sale that signals a change in the insider’s market view. Phantom shares are a form of deferred pay and are typically settled in cash when employment ends; using shares to cover taxes is a routine administrative step.