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

Role
Director
Signature
/s/ Michael Zaitzeff
Stock symbol
BHLB
Transactions as of
May 16, 2022
Transactions value $
-$31,474,691
Form type
4
Date filed
5/18/2022, 01:40 PM
Previous filing
Mar 16, 2022
Next filing
Feb 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BHLB Common Stock Sale -$31.5M -1.27M -100% $24.70 0 May 16, 2022 HOF III Fund F2
holding BHLB Common Stock 2.25K May 16, 2022 By Stock Award II F1, F2, F4
holding BHLB Common Stock 1.05K May 16, 2022 By Stock Award I F1, F2, F3
holding BHLB Common Stock 399K May 16, 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.