United Bancorp ESOP Holds 376,853 Shares, Shared Voting Power

TL;DR

**United Bancorp's ESOP now controls 376,853 shares, giving employees significant voting power.**

AI Summary

United Bancorp, Inc. (UBOH) filed an amended SC 13G/A on February 9, 2024, revealing that its Employee Stock Ownership Plan (ESOP) now beneficially owns 376,853 shares of UBOH common stock as of December 31, 2023. This filing, an amendment number 17, indicates that the ESOP's Plan Trustee holds shared voting power over these shares, while United Bancorp, Inc. itself holds no direct voting or dispositive power. This matters to investors because a significant portion of the company's stock is held by its employees through the ESOP, which can influence corporate governance and long-term stability.

Why It Matters

This filing shows that employees, through their ESOP, have a substantial stake in United Bancorp, Inc., potentially aligning employee interests with long-term company performance and stability.

Risk Assessment

Risk Level: low — The filing indicates a stable ownership structure with a significant portion of shares held by an employee stock ownership plan, which generally reduces volatility.

Analyst Insight

Investors should note the significant employee ownership through the ESOP, which can indicate long-term stability and alignment of interests, but does not directly signal a buy or sell opportunity.

Key Numbers

• 376,853 — Shares Beneficially Owned (Number of shares the ESOP's Plan Trustee has shared voting power over.)
• 17 — Amendment Number (This is the 17th amendment to the original Schedule 13G filing.)
• $1.00 — Par Value per Share (The stated par value of United Bancorp, Inc. Common Stock.)

Key Players & Entities

• United Bancorp, Inc. (company) — Issuer and Reporting Person
• United Bancorp, Inc. of Martins Ferry, Ohio Employee Stock Ownership Plan (company) — Beneficial owner of shares
• Executive Committee of United Bancorp, Inc. (company) — Plan Trustee for the ESOP
• 376,853 (dollar_amount) — Number of shares beneficially owned by the ESOP
• December 31, 2023 (date) — Date of event requiring the filing

Forward-Looking Statements

• Employee alignment with company performance will remain strong due to significant ESOP ownership. (United Bancorp, Inc.) — high confidence, target: 2025-12-31
• The ESOP's voting power will continue to influence corporate governance decisions. (United Bancorp, Inc.) — medium confidence, target: 2024-12-31

FAQ

Key Financial Figures

• $1.00 — ame of Issuer) Common Stock, par value $1.00 per share (Title of Class of Securitie

Filing Documents

• tm245646d1_sc13ga.htm (SC 13G/A) — 44KB
• 0001104659-24-012892.txt ( ) — 46KB

From the Filing

SC 13G/A 1 tm245646d1_sc13ga.htm SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A (Rule 13d-102) (Amendment No. 17) Information to be Included in Statements Filed Pursuant to § 240.13d-1(b), (c) and (d) and Amendments Thereto Filed Pursuant to § 240.13d-2 Under the Securities Exchange Act of 1934 United Bancorp, Inc. (Name of Issuer) Common Stock, par value $1.00 per share (Title of Class of Securities) 909911109 (Cusip Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) 13G CUSIP No. 909911109 1. Names of Reporting Person: United Bancorp, Inc., as Administrator of the United Bancorp, Inc. of Martins Ferry, Ohio Employee Stock Ownership Plan The United Bancorp, Inc. of Martins Ferry, Ohio Employee Stock 2. Check the Appropriate Box if a Member of a Group: Not applicable. (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization: United Bancorp, Inc. - State of Ohio Plan Trust - State of Ohio Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power: United Bancorp, Inc. 0 Plan Trustee 0 6. Shared Voting Power: United Bancorp, Inc. 0 Plan Trustee 376,853 7. Sole Dispositive Power: United Bancorp, Inc. 0 Plan Trustee 0 8. Shared Dispositive Power: United Bancorp, Inc. 376,853 Plan Trustee 376,853 9. Aggregate Amount Beneficially Owned by Each Reporting Person: United Bancorp, Inc. 376,853 Plan Trustee 376,853 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares: Not applicable. 11. Percent of Class Represented by Amount in Row (9): United Bancorp, Inc. – 6.4% of 5,884,488 shares of common stock outstanding as of 12/31/2023 Plan Trustee – 6.4% of 5,884,488 shares of common stock outstanding as of 12/31/2023 12. Type of Reporting Person: United Bancorp, Inc. - HC United Bancorp, Inc. of Martins Ferry, Ohio Employee Stock Ownership Plan EP Item 1. (a) Name of Issuer: United Bancorp, Inc. (b) Address of Issuer's Principal Executive Offices: 201 South Fourth Street Martins Ferry, Ohio 43935 Item 2. (a) Name of Person Filing: United Bancorp, Inc., as Administrator of the United Bancorp, Inc. of Martins Ferry, Ohio Employee Stock Ownership Plan The United Bancorp, Inc. of Martins Ferry, Ohio Employee Stock Ownership Plan - Executive Committee of United Bancorp, Inc., Plan Trustee (b) Address of Principal Business Office: 201 South Fourth Street Martins Ferry, Ohio 43935 (c) Citizenship: United Bancorp, Inc. – State of Ohio Plan Trust – State of Ohio (d) Title of Class of Securities: Common Stock, par value $1.00 per share (e) CUSIP Number: 909911109 Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). (k) Group, in accordance with § 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Not applicable . Item 4. (a) Amount beneficially owned: United Bancorp, Inc. – 376,853 Plan Trustee – 376,853 (b) Percent of class: United Bancorp, Inc. – 6.4% Plan Trustee – 6.4% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote United Bancorp, Inc. – 0 Plan Trustee – 0 (ii) Shared power to vote or to direct the vote United Bancorp, Inc. – 0 Plan Trustee – 376,853 (iii) Sole power to dispose or to direct the disposition of United Bancorp, Inc. – 0 Plan Trustee – 0 (iv) Shared power to dispose or to direct the disposition of United Bancorp, Inc. – 376,853 Plan Trustee – 376,853 Item 5. If this statement is being filed to r

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