Form Type: 4

SEC EDGAR Link
Accession Number:0001104659-21-147277
Date:2021-12-03
Issuer: COMMUNITY BANKERS TRUST CORP (ESXB)
Original Submission Date:

Reporting Person:

JONES STANLEY B. JR.
9954 MAYLAND DRIVE
SUITE 2100 RICHMOND, VA 23233

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
EMPLOYEE STOCK OPTION 7.75 2021-12-03 deemed execution date D 20,000 (d) 2031-02-22 common stock 20,000 $7.75 0 direct
RESTRICTED STOCK UNITS (PERFORMANCE-BASED) 0.0 2021-12-03 deemed execution date D 5,000 (d) 2023-12-31 common stock 5,000 $0.00 0 direct
Footnotes
IDfootnote
f1 the option was to vest in four equal annual installments beginning on february 22, 2022.
f2 the transaction reported is the disposition of derivative securities pursuant to the terms of the agreement and plan of reorganization, dated june 2, 2021, by and between united bankshares, inc. ("united") and the issuer, pursuant to which the issuer was merged with and into united effective december 3, 2021 (the "merger"). the option was assumed by united in the merger, vesting in accordance with the terms of the award agreement, and replaced with an option to purchase shares of united's common stock equal to the number of shares of the issuer's common stock subject to such option multiplied by 0.3173, at an exercise price equal to the exercise price of such option divided by 0.3173.
f3 the restricted stock units were assumed by united in the merger, vesting in accordance with the terms of the award agreement, and replaced with the right to receive a number of shares of united's common stock equal to the vested number of shares of the issuer's common stock multiplied by 0.3173. the vesting of the performance-based restricted stock units, and the corresponding issuance of shares of common stock, had been based on the issuer's performance with respect to the return on average assets financial metric over the three-year period ending december 31, 2023.
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