Webster (WBS) Director William Atwell Sells 32,511 Shares

What Happened
William L. Atwell, a director of Webster Financial Corporation, disposed of 32,511 shares of Webster common stock on August 20, 2026. The Form 4 reports the disposition to the issuer (price shown as $0.00), but under the transaction agreement each Webster share was exchanged for 2.0548 Banco Santander American Depositary Shares (ADS) and $48.75 in cash. The cash component of Atwell’s consideration is approximately $1,584,911.25. Per the filing, he no longer beneficially owns any Webster common stock after the transaction.

Key Details

• Transaction date: 2026-08-20; Form 4 filed 2026-08-21 (timely).
• Reported transaction code: D (Disposition to issuer); reported price per Form 4: $0.00 (standard for issuer dispositions in a merger).
• Shares disposed: 32,511.
• Consideration per transaction agreement: 2.0548 Banco Santander ADS + $48.75 cash per Webster share.
• Cash proceeds (approx.): $1,584,911.25; fractional shares were paid in cash.
• Shares owned after transaction: 0 (per footnote F2).
• Not a typical open-market sale — this was a corporate merger/reincorporation exchange (see footnote F1).

Context
This filing reflects a corporate transaction (merger/reincorporation and exchange of Webster shares for Banco Santander ADS plus cash), not a voluntary open-market sale or option exercise. For retail investors, such dispositions indicate receipt of merger consideration rather than an insider signaling buy/sell sentiment in the market.