Rex L. Smith III - 03 Dec 2021 Form 4 Insider Report for Community Bankers Trust Corp (ESXB)

Role: President and CEO, Director
Signature: /s/ John M. Oakey, III by power of attorney
Issuer symbol: ESXB
Transactions as of: 03 Dec 2021
Transactions value $: $0
Form type: 4
Filing time: 07 Dec 2021, 16:23:53 UTC
Previous filing: 03 Sep 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ESXB	Common Stock	Disposed to Issuer		-128,654	-100%		0	03 Dec 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ESXB	Employee Stock Option	Disposed to Issuer		-75,000	-100%		0	03 Dec 2021	Common Stock	75,000	$4.37	Direct	F2, F9
transaction	ESXB	Employee Stock Option	Disposed to Issuer		-40,000	-100%		0	03 Dec 2021	Common Stock	40,000	$5.07	Direct	F3, F9
transaction	ESXB	Employee Stock Option	Disposed to Issuer		-75,000	-100%		0	03 Dec 2021	Common Stock	75,000	$7.40	Direct	F4, F9
transaction	ESXB	Employee Stock Option	Disposed to Issuer		-40,000	-100%		0	03 Dec 2021	Common Stock	40,000	$8.45	Direct	F5, F9
transaction	ESXB	Employee Stock Option	Disposed to Issuer		-50,000	-100%		0	03 Dec 2021	Common Stock	50,000	$7.70	Direct	F6, F9
transaction	ESXB	Employee Stock Option	Disposed to Issuer		-40,000	-100%		0	03 Dec 2021	Common Stock	40,000	$9.45	Direct	F7, F9
transaction	ESXB	Employee Stock Option	Disposed to Issuer		-40,000	-100%		0	03 Dec 2021	Common Stock	40,000	$7.67	Direct	F8, F9
transaction	ESXB	Restricted Stock Units (performance-based)	Disposed to Issuer		-10,000	-100%		0	03 Dec 2021	Common Stock	10,000		Direct	F10

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Rex L. Smith III is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The transaction reported is the disposition of shares of the Issuer's common stock 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"). Pursuant to the Merger, each issued and outstanding share of the Issuer's common stock was converted into 0.3173 shares of United's common stock, with cash paid in lieu of fractional shares. As a result of the Merger, the reporting person no longer beneficially owns directly or indirectly any shares of the Issuer's common stock.
F2	The option vested in four equal annual installments beginning on January 16, 2016.
F3	The option vested in four equal annual installments beginning on January 22, 2017.
F4	The option vested in four equal annual installments beginning on January 20, 2018.
F5	The option vested and was to vest in four equal annual installments beginning on January 19, 2019.
F6	The option vested and was to vest in four equal annual installments beginning on January 18, 2020.
F7	The option vested and was to vest in four equal annual installments beginning on January 17, 2021.
F8	The option was to vest in four equal annual installments beginning on February 19, 2022.
F9	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.
F10	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.