January 2, 2024 · Form 4 insider transaction
TILLETT RONALD L bought 1,637 shares of Union Bankshares Corporation, a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 2 days after the transaction.
Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable, in cash or common stock, at the time elected by the reporting person in the reporting person's deferred compensation election form; provided, that if the reporting person elected to receive distributions under the Company's non-qualified deferred compensation plan in installments, such amounts are payable only in cash.; On January 2, 2024, 1,637 shares of the reporting person's phantom stock settled for an equal number of shares of the Company's common stock.