United Community Banks Director Jennifer Bazante Transfers 2,526 Shares to Family Trust

Director's Share Transfer Structure and Beneficiary Arrangement

Jennifer M. Bazante, who serves as a director of United Community Banks Inc., executed a transfer of 2,526 shares of company common stock on July 24, 2026. The shares were moved from her directly held position to the Jennifer Mumby Bazante Revocable Trust dated August 26, 2021. According to the disclosure, Bazante acts as trustee of the trust, and she and her immediate family members are named as the sole beneficiaries of the arrangement.

This type of trust-based transfer is a common estate planning tool used by corporate insiders to organize their shareholdings and manage succession planning. The revocable nature of the trust allows the settlor (Bazante) to modify or terminate the arrangement during her lifetime if desired. The transfer itself involved no monetary exchange, as indicated by the $0 price per share noted in the regulatory filing, which is typical for transfers between a beneficial owner and a trust vehicle under her control.

Ownership Position Before and After the Transaction

Prior to the July 24, 2026 transaction, Bazante held a combined beneficial ownership position in United Community Banks. The disclosure indicates that following the transfer, her direct ownership of UCB common stock was reduced to 4,836 shares. This represents the shares that remain in Bazante's personal name rather than held through the trust vehicle.

Simultaneously, Bazante's indirect beneficial ownership through the Jennifer Mumby Bazante Revocable Trust increased to 8,546 shares after the transfer. The combined position—both direct and indirect holdings—reflects Bazante's total beneficial ownership in the company. Securities regulations require insiders to report changes in beneficial ownership, including transfers to trusts and other entities, to ensure transparency regarding the ownership stakes of directors, officers, and substantial shareholders.

Regulatory Filing and Disclosure Timeline

The transfer transaction occurred on July 24, 2026, and was reported through a Form 4 filing submitted to the Securities and Exchange Commission on July 28, 2026. The four-day filing window between the transaction date and the regulatory submission falls within standard SEC reporting requirements for insiders to disclose changes in beneficial ownership. The filing was signed on behalf of Bazante by Melinda Davis Lux, identified as her attorney in fact, on July 28, 2026.

Form 4 filings are public documents designed to provide transparency regarding transactions by corporate insiders, including directors, officers, and beneficial owners holding more than 10 percent of a company's equity. These disclosures are made available through the SEC's EDGAR database and are monitored by investors, analysts, and market participants to track insider activity and potential changes in ownership concentration at publicly traded companies.

Nature of Bazante's Relationship to United Community Banks

The disclosure identifies Bazante as a director of United Community Banks Inc., one of the checked relationship categories in the Form 4 filing. Directors serve on the company's board and are responsible for overseeing management, reviewing strategic initiatives, and ensuring compliance with regulatory requirements. Board members are considered insiders under securities law due to their access to material nonpublic information and their influence over company decisions.

As a director, Bazante's transactions in company securities are subject to insider trading rules and reporting requirements under Section 16 of the Securities Exchange Act of 1934. These regulations aim to prevent directors, officers, and other insiders from trading on nonpublic information while also ensuring that the market has visibility into insider buying, selling, and ownership changes. The transfer of shares to a family trust does not reduce Bazante's insider status or reporting obligations, as she continues to beneficially own the transferred shares through the trust arrangement.

Trust-Based Ownership and Beneficial Ownership Rules

Under securities law, beneficial ownership includes shares held directly by an individual as well as shares held indirectly through trusts, partnerships, and other entities in which the individual has a pecuniary interest or voting control. In Bazante's case, the 2,526 shares transferred to the revocable trust remain part of her beneficial ownership for reporting purposes because she is the trustee and the beneficiary. SEC rules require disclosure of such indirect holdings to prevent insiders from obscuring their actual ownership stakes through layered structures.

The revocable trust structure identified in the filing—with a creation date of August 26, 2021—predates the July 2026 transaction by nearly five years. This suggests that the trust may have been established as part of a broader estate planning strategy, with the 2026 transfer representing a shift of additional company shares into an existing trust vehicle. Investors reviewing insider transactions often examine whether transfers reflect long-term estate planning objectives or potentially signal insider perspectives on company prospects, though the absence of monetary consideration in this case indicates it is a structural reorganization of existing holdings rather than a new purchase or sale of shares.

Immediate Family Beneficiary Designation

The disclosure specifically notes that Bazante and immediate family members are identified as the sole beneficiaries of the Jennifer Mumby Bazante Revocable Trust. This language typically encompasses spouses and children or, depending on the trust's terms, may include other closely related family members. By naming family members as beneficiaries, the trust structure allows for potential transfer of ownership upon Bazante's death without the need for probate court involvement, which can be more time-efficient and private than traditional estate settlement procedures.

The trust beneficiary arrangement does not change the voting or economic rights associated with the transferred shares during Bazante's lifetime, as she retains control through her trustee role. However, the structure may affect how these shares are handled upon Bazante's death or incapacity. Investors should note that estate planning transactions by insiders do not typically indicate changes in their views about company value or strategy; rather, they reflect personal and tax planning considerations.

Transaction Code and Securities Classification

The Form 4 filing identifies the transaction code as "G," which in SEC terminology denotes a transfer not involving a sale or purchase. This classification is appropriate for the Bazante transaction because no monetary payment changed hands and no shares were acquired from or sold to external parties. The securities remain with the beneficial owner but are reorganized within her ownership structure. Transaction code "G" transfers are common for estate planning, trust funding, and similar corporate reorganizations of personal shareholdings.

The filing shows no derivative securities, such as stock options, warrants, or convertible instruments, in the Table II section. This indicates that Bazante's holdings in United Community Banks consist solely of common stock held directly and indirectly through the trust. The absence of derivative positions simplifies the ownership picture and suggests that her involvement in the company is limited to equity ownership rather than compensation packages that might include equity-based incentives with vesting schedules or exercise features.

Comparative Ownership Stakes After the Transfer

Following the July 24, 2026 transaction, Bazante's beneficially owned stake in United Community Banks totals 13,382 shares when combining her direct holdings (4,836 shares) and indirect holdings through the trust (8,546 shares). This combined position represents her total economic interest in the company's common stock. The specific split between direct and indirect ownership is now recorded in regulatory filings, which may be relevant for governance disclosures or insider trading monitoring by compliance professionals and investment analysts.

The size of Bazante's ownership position relative to United Community Banks' total outstanding shares was not disclosed in the Form 4 filing. To determine what percentage of the company Bazante controls through this combined stake, investors would need to cross-reference the company's most recent shareholder reports or quarterly disclosures listing total shares outstanding. The Form 4 provides absolute share counts but does not calculate percentage ownership, leaving that analysis to market participants and research professionals.

Attestation and Legal Authority

The Form 4 filing was executed by Melinda Davis Lux, identified as attorney in fact for Jennifer M. Bazante. This designation means that Lux holds a power of attorney document authorizing her to act on Bazante's behalf in executing legal and regulatory filings. The use of an attorney in fact is common for executives and board members who prefer to delegate the administrative task of filing routine insider transaction reports while retaining ultimate responsibility for the accuracy and timeliness of disclosures.

The signature line includes a reminder that intentional misstatements or omissions in Form 4 filings constitute federal criminal violations under 18 U.S.C. Section 1001 and 15 U.S.C. Section 78ff(a). This language underscores the legal seriousness of insider transaction reporting and the penalties associated with false or misleading filings. The filing represents a formal attestation that the information provided regarding Bazante's beneficial ownership changes is accurate and complete as of the filing date.