Michael Zaitzeff - 16 May 2022 Form 4 Insider Report for BERKSHIRE HILLS BANCORP INC (BHLB)

Role: Director
Signature: /s/ Michael Zaitzeff
Issuer symbol: BHLB
Transactions as of: 16 May 2022
Net transactions value: -$31,474,691
Form type: 4
Filing time: 18 May 2022, 13:40:07 UTC
Previous filing: 16 Mar 2022
Next filing: 01 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BHLB	Common Stock	Sale	$31,474,691	-1,274,279	-100%	$24.70	0	16 May 2022	HOF III Fund	F2
holding	BHLB	Common Stock						2,248	16 May 2022	By Stock Award II	F1, F2, F4
holding	BHLB	Common Stock						1,048	16 May 2022	By Stock Award I	F1, F2, F3
holding	BHLB	Common Stock						398,923	16 May 2022	VM GP VII	F2, F5

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

Explanation of Responses:

Id	Content
F1	Securities of the Issuer beneficially owned directly by HoldCo Opportunities Fund III, L.P. ("HoldCo Fund"). VM GP VII LLC ("VM GP VII"), as the general partner of HoldCo Fund, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund. HoldCo Asset Management, LP ("HoldCo Asset Management"), as the investment manager of HoldCo Fund, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund. VM GP II LLC ("VM GP II"), as the general partner of HoldCo Asset Management, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund. The Reporting Person, as a managing member of each of VM GP II and VM GP VII, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund.
F2	The Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F3	Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2018 Equity Compensation Plan vest in three equal annual installments beginning on January 30, 2022. HOF III Liquidating Partnership L.P. ("HOF III Fund") and VM GP VII will each receive its proportionate share of the economic benefits, if any, of this Stock Award.
F4	Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2018 Equity Compensation Plan vest 100% on January 30, 2023. HOF III Fund and VM GP VII will each receive its proportionate share of the economic benefits, if any, of this Stock Award.
F5	Securities of the Issuer beneficially owned directly by VM GP VII. The Reporting Person, as a managing member of VM GP VII, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by VM GP VII.