Luis Massiani - Jan 31, 2022 Form 4/A - Amendment Insider Report for WEBSTER FINANCIAL CORP (WBS)

Role
Chief Operating Officer
Signature
Jennifer H. Daukas, attorney-in-fact
Stock symbol
WBS
Transactions as of
Jan 31, 2022
Transactions value $
$0
Form type
4/A - Amendment
Date filed
2/3/2022, 04:16 PM
Date Of Original Report
Feb 2, 2022
Previous filing
Dec 20, 2021
Next filing
Feb 9, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WBS Common Stock Award $0 +130K $0.00 130K Jan 31, 2022 Direct F1
transaction WBS Common Stock Award $0 +8.32K +6.39% $0.00 139K Feb 1, 2022 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Acquired in connection with the Merger Agreement by and between Webster Financial Corporation ("Webster") and Sterling Bancorp ("Sterling"), dated April 18, 2021, pursuant to which Sterling was merged with and into Webster, effective January 31, 2022 (the "Merger"). Pursuant to the Merger, each issued and outstanding share of Sterling common stock was converted into the right to receive 0.4630 shares of Webster common stock.
F2 Performance Shares granted on February 1, 2022, of which one-third will be eligible to vest each year in an amount ranging from 50% to 100% of target based on achievement of performance metrics in each of the February 1, 2022 through December 31, 2022, January 1, 2023 through December 31, 2023 and January 1, 2024 through December 31, 2024 performance periods. The reported amount represents 50% of the Performance Shares granted on February 1, 2022, which is the minimum portion that will vest subject to time vesting and other terms and conditions. The remaining portion of the Performance Shares granted on February 1, 2022 will be reported as of the date of vesting, if any.
F3 On February 2, 2022, the reporting person filed a Form 4 which inadvertently reported that the amount of securities beneficially owned following the transaction was 8,317 shares of the issuer's common stock. In fact, as reported in this amendment, the amount of securities beneficially owned following the transaction is 138,505 shares of the issuer's common stock.