Form 8-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

May 16, 2011

 

 

United Bankshares, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

West Virginia   No. 0-13322   55-0641179

(State or other jurisdiction of

incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

300 United Center

500 Virginia Street, East

Charleston, West Virginia 25301

(Address of Principal Executive Offices)

(304) 424-8800

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or address, if changed since last report)

 

 

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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.07. Submission of Matters to a Vote of Security Holders

United Bankshares, Inc. (“United” or the “Company”) held its Annual Meeting of Shareholders (the “Meeting”) on May 16, 2011 in Parkersburg, West Virginia. At the Meeting, shareholders voted on all proposals outlined in the Company’s proxy statement (the “Proxy Statement”) which were: (1) to elect thirteen (13) persons to serve as directors of the Company for a one-year term expiring at the 2012 Annual Meeting; (2) to ratify the selection of Ernst & Young LLP, as the independent registered public accounting firm for the fiscal year ending December 31, 2011; (3) to adopt a non-binding resolution to approve the compensation of United’s named executive officers; (4) to approve a non-binding advisory proposal on the frequency of future votes on the compensation of United’s named executive officers; and (5) to approve the United 2011 Long-Term Incentive Plan. The proposals are described in detail in the Proxy Statement mailed to shareholders on or about April 8, 2011. The voting results for the proposals appear below.

Proposal 1. Election of Directors:

 

     Votes For      Votes
Withheld
     Abstentions      Broker
Non-Votes
 

Richard M. Adams

     29,320,664         1,600,427         —           6,524,426   

Robert G. Astorg

     29,362,950         1,558,141         —           6,524,426   

W. Gaston Caperton, III

     29,108,683         1,812,408         —           6,524,426   

Lawrence K. Doll

     29,314,734         1,606,357         —           6,524,426   

Theodore J. Georgelas

     29,361,313         1,559,778         —           6,524,426   

F. T. Graff, Jr.

     28,391,861         2,529,230         —           6,524,426   

John M. McMahon

     29,142,589         1,778,502         —           6,524,426   

J. Paul McNamara

     19,804,535         11,116,556         —           6,524,426   

William C. Pitt, III

     29,247,076         1,674,015         —           6,524,426   

Donald L. Unger

     29,362,096         1,558,995         —           6,524,426   

Mary K. Weddle

     30,402,525         518,566         —           6,524,426   

Gary G. White

     30,250,855         670,236         —           6,524,426   

P. Clinton Winter, Jr.

     29,149,509         1,771,582         —           6,524,426   

Proposal 2. Ratification of the selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2011:

 

For    Against    Abstentions    Broker Non-Votes
35,982,159    1,364,926    98,432    —  


Proposal 3. Adoption of a non-binding resolution to approve the compensation of United’s named executive officers:

 

For    Against    Abstentions    Broker Non-Votes
29,008,519    1,423,102    489,470    6,524,426

Proposal 4. Approval of a non-binding advisory proposal on the frequency of future votes on the compensation of United’s named executive officers:

 

One Year    Two Years    Three Years    Abstentions    Broker Non-Votes
23,504,820    734,499    6,130,719    551,053    6,524,426

In light of the shareholders’ recommendation of an annual frequency for future votes on the compensation of United’s named executive officers, at this time, the Company plans on conducting a shareholder vote annually regarding the compensation of United’s named executive officers until the next required vote on the frequency of shareholder votes on compensation of named executive officers.

Proposal 5. Approval of the United 2011 Long-Term Incentive Plan:

 

For    Against    Abstentions    Broker Non-Votes
26,888,680    3,455,300    577,111    6,524,426

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit
No.

  

Description

10.4    United Bankshares, Inc. 2011 Long-Term Incentive Plan – Incorporated by reference to Exhibit A of United’s 2011 Proxy Statement filed on April 8, 2011.


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:  

May 20, 2011

    By:  

/s/ Steven E. Wilson

      Steven E. Wilson, Executive Vice
      President, Treasurer, Secretary and
      Chief Financial Officer