4//SEC Filing
LANDY JAMES J 4
Accession 0001209191-22-006619
CIK 0001070154other
Filed
Feb 1, 7:00 PM ET
Accepted
Feb 2, 9:42 PM ET
Size
9.6 KB
Accession
0001209191-22-006619
Insider Transaction Report
Form 4
LANDY JAMES J
Director
Transactions
- Disposition to Issuer
Common Stock
2022-01-31−218,703→ 0 total - Disposition to Issuer
Common Stock
2022-01-31−148,571→ 0 total(indirect: By Spouse) - Disposition to Issuer
Common Stock
2022-01-31−15,240→ 0 total(indirect: By Spouse)
Footnotes (5)
- [F1]Includes 3,433 restricted stock awards of the Issuer (the "Issuer RSAs").
- [F2]Disposed of pursuant to the Merger Agreement between Issuer and Webster Financial Corporation ("Webster"), dated April 18, 2021 (the "Merger Agreement"), for total stock consideration of 101,259 shares of new Webster common stock. Pursuant to the terms of the Merger Agreement, at the effective time of the merger between Issuer and Webster (the "Effective Time"), each share of Issuer common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive 0.4630 shares of Webster common stock. All fractional share holdings were paid in cash. The Merger closed on January 31, 2022. On January 31, 2022, the closing price of the Issuer was $26.29, and the closing price of Webster was $56.81
- [F3]Pursuant to the terms of the Merger Agreement, at the Effective Time, the Issuer RSAs vested and were cancelled and converted into the number of shares of Webster common stock equal to the product of (A) the number of shares of Issuer common stock subject to such Issuer RSAs immediately prior to the Effective Time, multiplied by (B) the Exchange Ratio, with any fractional shares paid in cash.
- [F4]Disposed of pursuant to the Merger Agreement, for total stock consideration of 7,056 shares of new Webster common stock, as further described above.
- [F5]Disposed of pursuant to the Merger Agreement, for total stock consideration of 68,788 shares of new Webster common stock, as further described above.
Documents
Issuer
STERLING BANCORP
CIK 0001070154
Entity typeother
Related Parties
1- filerCIK 0001191181
Filing Metadata
- Form type
- 4
- Filed
- Feb 1, 7:00 PM ET
- Accepted
- Feb 2, 9:42 PM ET
- Size
- 9.6 KB