United Bankshares Inc. Announces New Change in Control Agreements with Key Executives, Enhancing Severance Benefits

Reuters
08/05
United Bankshares Inc. Announces New Change in Control Agreements with Key Executives, Enhancing Severance Benefits

United Bankshares Inc. has announced new compensation terms for its top executives, effective July 31, 2025. The company has entered into change in control agreements with CEO Richard M. Adams, Jr., President James J. Consagra, Jr., Executive Vice President and CFO W. Mark Tatterson, and Executive Vice President and Chief Risk and Information Officer Darren K. Williams. Under these agreements, executives will receive severance benefits if their employment is terminated without cause or for good reason within two years of a change in control. Benefits include a lump sum payment of up to three times their annual salary and target bonus, a prorated bonus for the year of termination, and continued health insurance coverage for up to 36 months. Additionally, the company's Board of Directors has approved new forms of award agreements for future equity grants and amendments to existing supplemental executive retirement agreements. These agreements seek to ensure leadership stability in the event of major company changes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. United Bankshares Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-25-172645), on August 04, 2025, and is solely responsible for the information contained therein.

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