Proctor Michael 4

What Happened Michael Proctor, Executive Vice President of United Bankshares (UBSI), had 295 shares withheld on February 20, 2026 to satisfy a tax or exercise-price obligation tied to a derivative transaction. The withheld shares were reported disposed at $44.07 each, for a total value of $13,001. This was a tax-withholding disposition (code F), not an open-market sale.

Key Details

• Transaction date and price: 2026-02-20 — 295 shares withheld at $44.07/share (total $13,001).
• Transaction type: Code F — payment of exercise price or tax liability by delivering/withholding securities (disposition).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing date: Form 4 filed 2026-02-24 (4 days after the transaction). Review the official filing for any late-filing flag.
• Footnote: This appears to be a routine tax-withholding on an exercised award or vested shares rather than a market sale.

Context When insiders have shares withheld to cover taxes (a cashless/withholding settlement), it typically reflects settlement mechanics of an option exercise or restricted stock vesting rather than a directional bet on the company's stock. Such withholdings reduce the insider's net share count but are generally considered administrative and not necessarily a signal of sentiment.