FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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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1. Name and Address of Reporting Person *
NEAL JOHN C
 2. Issuer Name and Ticker or Trading Symbol
UNION FIRST MARKET 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
(Last)
(First)
(Middle)

211 N. MAIN ST., P.O. BOX 446		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2010
(Street)


BOWLING GREEN, VA 22427		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock             27,779 (1) (2) D  
Common Stock             693 I By self as custodian for children
Common Stock             6,735 (3) I By Trustee of ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

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 at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Incentive Stock Option (right to buy) $ 8.54           01/25/2002 01/25/2011 Common Stock
2,250
  2,250
D
 
Employee Incentive Stock Option (right to buy) $ 10.67           01/02/2003 01/02/2012 Common Stock
3,750
  6,000
D
 
Employee Incentive Stock Option (right to buy) $ 18.58           01/23/2004 01/23/2013 Common Stock
3,750
  9,750
D
 
Employee Incentive Stock Option (right to buy) $ 22.65           01/29/2005 01/29/2014 Common Stock
3,750
  13,500
D
 
Employee non-qualified Incentive Stock Option (right to buy) $ 16.45           04/28/2011 04/28/2020 Common Stock
7,459
  20,959
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
NEAL JOHN C
211 N. MAIN ST.
P.O. BOX 446
BOWLING GREEN, VA 22427		       EVP  

Signatures

/s/ John C. Neal 02/11/2011
**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).
(1) Includes 2,998 shares of restricted stock; 806shares of restricted stock vested at the close of NASDAQ market on 12/17/2010 (of which 259shares were traded to cover applicable taxes per contract).
(2) Includes 79 shares of stock purchased during 2010 with dividends under DRSPP.
(3) Voluntary divestiture and rollover of 6,571 shares by reporting person on October 25, 2010.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.