UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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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:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 |
United Bankshares, Inc. (the “Company”) entered into an employment contract with Richard M. Adams, the Chairman of the Board of Directors and Chief Executive Officer of the Company effective February 28, 2011. The original term of Mr. Adams’ employment contract was for three years, with the provision that the contract could be extended annually for one (1) year to maintain a rolling three (3) year contract.
At the Compensation Committee (the “Committee”) meeting (the “Meeting”) of the Company on February 24, 2020, the Committee approved the extension of the employment contract with Mr. Adams for an additional year until March 31, 2023.
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: February 28, 2020 |
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By: |
/s/ W. Mark Tatterson | ||||
| W. Mark Tatterson, Executive Vice President and Chief Financial Officer | ||||||||
Document and Entity Information |
Feb. 24, 2020 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | UNITED BANKSHARES INC/WV |
| Amendment Flag | false |
| Entity Central Index Key | 0000729986 |
| Document Type | 8-K |
| Document Period End Date | Feb. 24, 2020 |
| Entity Incorporation State Country Code | WV |
| Entity File Number | 002-86947 |
| Entity Tax Identification Number | 55-0641179 |
| Entity Address, Address Line One | 300 United Center |
| Entity Address, Address Line Two | 500 Virginia Street |
| Entity Address, Address Line Three | East |
| Entity Address, City or Town | Charleston |
| Entity Address, State or Province | WV |
| Entity Address, Postal Zip Code | 25301 |
| City Area Code | (304) |
| Local Phone Number | 424-8800 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, par value $2.50 per share |
| Trading Symbol | UBSI |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |