UNITED BANKSHARES INC/WV false 0000729986 0000729986 2024-08-26 2024-08-26

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

August 26, 2024

 

 

United Bankshares, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

West Virginia   No. 002-86947   55-0641179
(State or other jurisdiction of
incorporation or organization)
  (Commission
File Number)
  (I.R.S. Employer
Identification No.)

 

300 United Center
500 Virginia Street, East
Charleston, West Virginia 25301
(Address of Principal Executive Offices)

(304) 424-8800

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange

on which registered

Common Stock, par value $2.50 per share   UBSI   NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On August 26, 2024, United Bankshares, Inc. (“United”), at a meeting of its Board of Directors (the “Board”), increased the size of the Board to fifteen (15) members and appointed Dr. Sara DuMond to serve on the Board as an “independent” director to fill the vacancy created by that action. The appointment is effective October 21, 2024.

Dr. DuMond is not party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K. There was no arrangement or understanding between Dr. DuMond and any other person pursuant to which she was selected as a director.

Dr. DuMond will receive compensation for her service on the Board in accordance with United’s standard compensatory arrangements for non-employee directors. A description of the compensatory arrangements for non-employee directors is included in United’s proxy statement on Schedule 14A for its 2024 annual meeting of shareholders, filed with the Securities and Exchange Commission on April 2, 2024.

Dr. DuMond has not yet been appointed to any committees of United’s Board.

 

Item 9.01.

Financial Statements and Exhibits

(c) The following exhibits are being filed herewith:

 

99.1    Press Release, dated August 26, 2024, issued by United Bankshares, Inc.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    UNITED BANKSHARES, INC.
Date: August 26, 2024     By:  

/s/ W. Mark Tatterson

      W. Mark Tatterson, Executive Vice
      President and Chief Financial Officer

Exhibit 99.1

News Release

 

 

 

LOGO

 

For Immediate Release    Contact: Jacquie Toppings
Aug. 26, 2024    VP, Director of Communications
   jacquie.toppings@bankwithunited.com

United Bankshares, Inc. Elects Dr. Sara DuMond to its Board of Directors

WASHINGTON, D.C. & CHARLESTON, W.Va. – United Bankshares, Inc. (“United”) (NASDAQ: UBSI), a $30 billion regional financial services company, today announced the appointment of Sara DuMond, MD, FAAP, to its board of directors, effective Oct. 21, 2024.

Dr. DuMond is a practicing board-certified pediatrician and the founder and chief executive officer of Pediatric Housecalls, PLLC. She graduated summa cum laude from West Virginia University with a bachelor’s degree in physical therapy and went on to earn her medical degree from the West Virginia University School of Medicine with Alpha Omega Alpha distinction, the highest honor society for physicians in the U.S. She completed her residency in pediatrics at Carolinas Medical Center in 2003 and practiced general pediatrics at a private group practice in the Lake Norman, N.C. area before establishing Pediatric Housecalls in 2011.

“Sara is a highly accomplished and respected leader of her industry who does incredible work to better her community,” said Richard M. Adams, Executive Chairman of the Board, United Bankshares, Inc. “United prides itself on its commitment to local leadership and service to communities across our footprint, which makes Sara an invaluable addition to our board as we continue our mission of excellence in service to our employees, our customers, our shareholders, and our communities.”

Dr. DuMond is a fellow of the American Academy of Pediatrics and a member of the North Carolina Medical Society and Mecklenburg Medical Society. In addition to managing her clinical practice, she has served on numerous advisory boards as an advocate for evidence-based child health information, including Dr. Brown’s Expert Medical Panel, American Baby Magazine, WebMD, and KidsHealth.org. She has also served as a volunteer relief physician in Guatemala with Medical Missions Ministries and is active in Mecklenburg Community Church. She resides in Charlotte, N.C. with her husband David and their three children.

About United Bankshares, Inc.

As of June 30, 2024, United had consolidated assets of approximately $30 billion and is the 38th largest banking company in the U.S. based on market capitalization. United is the parent company of United Bank, which comprises more than 225 offices located throughout Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia. United’s stock is traded on the NASDAQ Global Select Market under the quotation symbol “UBSI”.

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