Michael Zaitzeff - Jan 29, 2024 Form 4 Insider Report for BERKSHIRE HILLS BANCORP INC (BHLB)

Role
Director
Signature
/s/ Michael Zaitzeff
Stock symbol
BHLB
Transactions as of
Jan 29, 2024
Transactions value $
-$2,837,647
Form type
4
Date filed
1/31/2024, 08:01 PM
Previous filing
Feb 1, 2023
Next filing
Feb 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BHLB Common Stock Sale -$68.9K -2.76K -100% $24.99 0 Jan 29, 2024 HOF III Fund F1, F8
transaction BHLB Common Stock Sale -$1.24M -49.2K -12.32% $25.19 350K Jan 29, 2024 VM GP VII F2, F3, F8
transaction BHLB Common Stock Sale -$1.04M -41.3K -11.8% $25.08 309K Jan 30, 2024 VM GP VII F3, F4, F8
transaction BHLB Common Stock Award $0 +2.6K $0.00 2.6K Jan 30, 2024 By Stock Award IV F5, F8
transaction BHLB Common Stock Sale -$495K -20K -6.49% $24.73 288K Jan 31, 2024 VM GP VII F3, F6, F8
holding BHLB Common Stock 0 Jan 29, 2024 By Stock Award III F7, F8
holding BHLB Common Stock 0 Jan 29, 2024 By Stock Award I F7, F8
holding BHLB Common Stock 2.67K Jan 29, 2024 Direct F7
* 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 HOF III Liquidating Partnership L.P. ("HOF III Fund"). VM GP VII LLC ("VM GP VII"), as the general partner of HOF III Fund, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HOF III Fund. HoldCo Asset Management, LP ("HoldCo Asset Management"), as the investment manager of HOF III Fund, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HOF III 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 HOF III 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 HOF III Fund.
F2 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.0950 to $25.2527. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 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.
F4 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.0500 to $25.2461. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2018 Equity Compensation Plan vest 100% on January 30, 2025.
F6 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.2600 to $24.7377. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F7 Since the Reporting Person's last report, 2,141 shares previously held through Stock Award III and 524 shares previously held through Stock Award I have vested and are owned directly.
F8 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.