United Bankshares announces executive reorganization: Adams to Exec Chairman, Adams Jr. as CEO, Consagra as President

UNITED BANKSHARES INC/WV

Richard M. Adams becomes Executive Chairman effective April 1, 2022; base salary $1,297,920; reduced incentive targets.
Richard M. Adams Jr. appointed CEO and board member; base salary $950,000; long-term incentive target 130% of salary.
James J. Consagra Jr. appointed President; base salary $850,000; long-term incentive target 120% of salary.
Board size increased from 13 to 14; Adams Jr. will fill the new vacancy and serve on the Executive Committee.
Mr. Adams served as CEO since 1976; Adams Jr. has been President since 2014 and joined the company in 1994.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Richard M. Adams, Jr.

Chief Executive Officer

UBSI · UNITED BANKSHARES INC/WV

Effective: 2022-04-01
Filed: March 1, 2022, 6:59 PM ET

On February 28, 2022, the Board of Directors of the Company appointed Richard M. Adams, Jr. as Chief Executive Officer of the Company effective April 1, 2022.

Role change

Richard M. Adams

Executive Chairman

UBSI · UNITED BANKSHARES INC/WV

Effective: 2022-04-01
Filed: March 1, 2022, 6:59 PM ET

Richard M. Adams, the Chairman of the Board of Directors and Chief Executive Officer of the Company will become the Executive Chairman of the Board of Directors of the Company at the beginning of the second quarter, April 1, 2022.

Role change

James J. Consagra, Jr.

President

UBSI · UNITED BANKSHARES INC/WV

Effective: 2022-04-01
Filed: March 1, 2022, 6:59 PM ET

On February 28, 2022, the Board of Directors of the Company appointed James J. Consagra, Jr. as the President of the Company effective April 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard M. Adams, Jr. was appointed as Chief Executive Officer at UNITED BANKSHARES INC/WV.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On February 28, 2022, the Board of Directors of the Company appointed Richard M. Adams, Jr. as Chief Executive Officer of the Company effective April 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard M. Adams changed role as Executive Chairman at UNITED BANKSHARES INC/WV.

Action: will become
Role: Executive Chairman

Exact text from the filing

Richard M. Adams, the Chairman of the Board of Directors and Chief Executive Officer of the Company will become the Executive Chairman of the Board of Directors of the Company at the beginning of the second quarter, April 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

James J. Consagra, Jr. was appointed as President at UNITED BANKSHARES INC/WV.

Action: appointed
Role: President

Exact text from the filing

On February 28, 2022, the Board of Directors of the Company appointed James J. Consagra, Jr. as the President of the Company effective April 1, 2022.

View on SEC.gov

UNITED BANKSHARES INC/WV filing history →

Source: SEC EDGAR

accession 0001193125-22-058572

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