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.
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