FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PEAY D ANTHONY
   2. Issuer Name and Ticker or Trading Symbol
UNION BANKSHARES CORP [UBSH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP & CFO
(Last)
(First)
(Middle)
P O BOX 446		 3. Date of Earliest Transaction (Month/Day/Year)
03/28/2007
(Street)

BOWLING GREEN, VA 22427		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $1.33 par value 03/28/2007   J   105 D $ 26.17 6,434 D  
Common Stock, $1.33 par value 03/28/2007   J   35 A $ 26.17 35 I As custodian for child
Common Stock, $1.33 par value               100 I Spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Emplouee stock options vest @ 200 shares/year $ 13.42             01/22/1999 01/22/2008 Common Stock, $1.33 par value 3,000   3,000 D  
Employee stock options vest @ 300 shares/year $ 8.54             01/25/2002 01/25/2011 Common Stock, $1.33 par value 750   3,750 D  
Employee stock options vest @ 400 shares/year $ 10.67             01/02/2003 01/02/2012 Common Stock, $1.33 par value 3,000   6,750 D  
Employee stock options vest @ 500 shares/year $ 18.58             01/23/2004 01/23/2013 Common Stock, $1.33 par value 3,000   9,750 D  
Employee stock options vest @ 500 shares/year $ 22.65             01/29/2005 01/29/2014 Common Stock, $1.33 par value 3,750   13,500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PEAY D ANTHONY
P O BOX 446
BOWLING GREEN, VA 22427		       EVP & CFO  

Signatures

 D. Anthony Peay   03/30/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
Transferred 105 shares to children with one transfer involving a custodial account (as noted in second transaction in Table I).

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