Jerry Franklin - Apr 1, 2022 Form 4 Insider Report for People's United Financial, Inc. (PBCT)

Role: Director
Signature: /s/ Kristy Berner, attorney-in-fact
Stock symbol: PBCT
Transactions as of: Apr 1, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/4/2022, 11:07 AM
Previous filing: May 19, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PBCT	Common Stock	Disposed to Issuer		-100K	-100%		0	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, pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), Bridge Merger Corp. ("Merger Sub"), a direct, wholly owned subsidiary of M&T Bank Corporation ("M&T"), merged with and into People's United Financial, Inc., a Delaware corporation ("People's United") with People's United as the surviving entity (the "Merger") and People's United then merged with and into M&T, with M&T as the surviving entity. Pursuant to the Merger Agreement, each issued and outstanding share of People's United common stock, including each restricted share award held by non-employee directors, was converted into the right to receive 0.118 of a share of M&T (the "exchange ratio").

Content

On April 1, 2022, pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), Bridge Merger Corp. ("Merger Sub"), a direct, wholly owned subsidiary of M&T Bank Corporation ("M&T"), merged with and into People's United Financial, Inc., a Delaware corporation ("People's United") with People's United as the surviving entity (the "Merger") and People's United then merged with and into M&T, with M&T as the surviving entity. Pursuant to the Merger Agreement, each issued and outstanding share of People's United common stock, including each restricted share award held by non-employee directors, was converted into the right to receive 0.118 of a share of M&T (the "exchange ratio").