Kevin J. Pearson - Feb 16, 2024 Form 4 Insider Report for M&T BANK CORP (MTB)

Role
Vice Chairman
Signature
By: Stephen T. Wilson, Esq. (Attorney-In-Fact)
Stock symbol
MTB
Transactions as of
Feb 16, 2024
Transactions value $
-$767,897
Form type
4
Date filed
2/21/2024, 03:54 PM
Previous filing
Feb 2, 2024
Next filing
Aug 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MTB Common Stock Award $0 +11.6K +24.12% $0.00 59.6K Feb 16, 2024 Direct F1, F2
transaction MTB Common Stock Tax liability -$768K -5.55K -9.32% $138.31 54K Feb 16, 2024 Direct F3
holding MTB Common Stock 5.79K Feb 16, 2024 By 2020 GRAT F4
holding MTB Common Stock 3.28K Feb 16, 2024 By 401(k) Plan F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding MTB Phantom Common Stock Units 3.53K Feb 16, 2024 Common Stock Supplemental 401 (k) Plan F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares issued pursuant to performance-vested stock units (including 1,106 shares issued for related dividend equivalent units) that were granted to the reporting person on January 29, 2021 under the M&T Bank Corporation 2019 Equity Incentive Compensation Plan (the "Plan") and were earned based on achievement against pre-established performance criteria for the three-year performance period ended December 31, 2023, as determined by the Company's Compensation and Human Capital Committee on February 16, 2024.
F2 The performance-vested restricted stock units were granted under the Plan, and therefore the reporting person paid no price for the performance-vested restricted stock units.
F3 Shares withheld for taxes upon the settlement in shares of performance-vested restricted stock units previously granted to the reporting person.
F4 The indicated shares are held by a Grantor Retained Annuity Trust ("2020 GRAT") of which the reporting person is trustee. The reporting person continues to report beneficial ownership of all of the M&T Bank Corporation common stock held by the 2020 GRAT but disclaims beneficial ownership except to the extent of his pecuniary interest therein.
F5 The information presented is as of February 14, 2024.
F6 The reported phantom common stock units are held by the reporting person in a plan account maintained by M&T Bank Corporation under the M&T Bank Corporation Leadership Retirement Savings Plan and represent a like number of shares of M&T Bank Corporation common stock. The phantom common stock units are payable in cash and distributed in accordance with the terms of the plan. The reported phantom common stock units also include units acquired through the dividend reinvestment feature of the plan.