Sundar PichaiSundar Pichai earned $164M in 2023

Richard M. Adams, Jr. is the CEO of United Bankshares, Inc., a position he has held since April 2022. He has a rich background in banking, having started his career at United Bankshares in 1994. Over the years, he rose...

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Richard M. Adams, Jr.

CEO of United Bankshares

Education

Law degree from Washington and Lee School of Law; undergraduate studies at Pepperdine University and Rollins College

Field of Expertise

Finance & Banking - Banking

Sector of Economy

Financial Services

Born

January 1, 1969 - 56 years ago

CEO of United Bankshares for

3 years 0 months (Apr 2022 - Present)

Previous Experience

President of United Bankshares, Inc.

Holdings

See how much did Richard M. Adams, Jr. make over time.

As the CEO of United Bankshares, Richard M. Adams, Jr. oversees significant holdings in the banking sector. In 2023, he had a total compensation package valued at approximately $4.4 million, which included a base salary of $1 million and a...

Total Stock Sold

$558.03K

UBSI

$558.03K

14,790 UBSI shares

What if they kept their stock?

If Richard M. Adams, Jr. didn't sell their stock, today they would have:
Extra UBSI14,790 shares worth $355.11K.
This is -36.36% and $202.92K less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Richard M. Adams, Jr..

UBSI

40,613 shares

UBSI

Feb 22, 2024

Received

UBSI

16,227 shares

UBSI

Feb 22, 2023

Received

UBSI

8,203 shares

UBSI

Feb 22, 2022

Received

UBSI

14,256 shares

UBSI

Feb 22, 2021

Received

UBSI

13,074 shares

UBSI

Feb 24, 2020

Received

UBSI

$561.53K

UBSI at $37.97/share

Mar 6, 2019

Sale

UBSI

9,738 shares

UBSI

Feb 23, 2019

Received

UBSI

5,928 shares

UBSI

Feb 23, 2018

Received

UBSI

$77.86K

UBSI at $33.25/share

Aug 14, 2017

Purchase

UBSI

5,928 shares

UBSI

Feb 27, 2017

Received

Compensation History

See how much did Richard M. Adams, Jr. make over time.

In 2023, Richard M. Adams, Jr.'s total compensation at United Bankshares, Inc. reached approximately $4.4 million. This figure comprises several components: his base salary was set at $1 million, which is a competitive amount for a CEO in the banking sector. He received an impressive bonus of about $1.1 million, which reflects his performance-oriented compensation strategy, achieving 114% of targeted metrics based on measures like Earnings Per Share. Additionally, Richard saw the vesting of stock valued at $609,000 from restricted stock units, along with other compensation totaling nearly $59,000 that includes retirement plan contributions and health benefits. His compensation package is designed to align closely with the bank's overall performance, ensuring that his financial rewards grow as the bank does.

Year

2023

Total Compensation

$2.76M

Salary

$1.00M

Board Justification

The compensation philosophy aims to ensure total compensation is fair, reasonable, and competitive, linking a substantial part of compensation to performance metrics aligned with shareholder interests.

Bonus

$1.09M

Board Justification

Annual cash incentive award based on performance metrics including Earnings Per Share, Return on Average Assets, and Non-Performing Assets Ratio, resulting in 114% of targeted level for 2023.

Other

$59.30K

Board Justification

Other compensation includes company contributions to 401(k) plan, life insurance, health and disability coverage premiums.

Restricted Stock

$609.36K(16.23K RSU)

Board Justification

Time-based restricted stock units granted in 2023 vest equally over a three-year period, with 16,228 shares vesting in 2023.

Performance Metrics

Earnings Per Share, Return on Average Assets, Non-Performing Assets Ratio.

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