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...
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 substantial annual cash incentive based on the company’s performance, achieving 114% of his targeted bonus. His vested stock units, valued around $609,000, marked a notable part of his compensation. It's important to note that his role has now reached a point where he is deeply integrated into the operational and strategic decisions of the bank, enhancing the bank's performance as the financial landscape evolves. Additionally, Richard has experienced a shift from cash compensation towards a more stock-based evaluation, aligning his financial incentives with the long-term success of United Bankshares.