Leumi Le Israel Bm Bank - Apr 1, 2022 Form 3 Insider Report for VALLEY NATIONAL BANCORP (VLY)

Role: 10%+ Owner
Signature: /s/ Omer Ziv
Stock symbol: VLY
Transactions as of: Apr 1, 2022
Transactions value $: $0
Form type: 3
Date filed: 4/11/2022, 01:17 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	VLY	Common Stock						71.9M	Apr 1, 2022	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On April 1, 2022, Valley National Bancorp (Valley) completed its acquisition of Bank Leumi Le-Israel Corporation (Leumi USA) pursuant to the Agreement and Plan of Merger (the Merger Agreement) it entered into on September 22, 2021. Pursuant to the terms of the Merger Agreement, Valley issued shares of its common stock to former holders of shares of common stock of Leumi USA. As of immediately prior to the effective time of the merger, the Reporting Person, Bank Leumi le-Israel B.M. (Leumi), owned shares of common stock of Leumi USA. At the effective time, and as a result, of the merger, each share of common stock of Leumi USA owned by Leumi immediately prior to such effective time, was converted into the right to receive 3.8025 shares of Valley common stock and $5.08 in cash, in each case, in accordance with the terms and conditions of the Merger Agreement, resulting in Leumi being entitled to, and as a result of the merger receiving, 71,861,862 shares of Valley common stock.

Content

On April 1, 2022, Valley National Bancorp (Valley) completed its acquisition of Bank Leumi Le-Israel Corporation (Leumi USA) pursuant to the Agreement and Plan of Merger (the Merger Agreement) it entered into on September 22, 2021. Pursuant to the terms of the Merger Agreement, Valley issued shares of its common stock to former holders of shares of common stock of Leumi USA. As of immediately prior to the effective time of the merger, the Reporting Person, Bank Leumi le-Israel B.M. (Leumi), owned shares of common stock of Leumi USA. At the effective time, and as a result, of the merger, each share of common stock of Leumi USA owned by Leumi immediately prior to such effective time, was converted into the right to receive 3.8025 shares of Valley common stock and $5.08 in cash, in each case, in accordance with the terms and conditions of the Merger Agreement, resulting in Leumi being entitled to, and as a result of the merger receiving, 71,861,862 shares of Valley common stock.