Webster (WBS) Director John P. Cahill Disposes 28,541 Shares

What Happened
John P. Cahill, a director of Webster Financial Corporation, disposed of 28,541.125 shares of Webster common stock on August 20, 2026 pursuant to the transaction agreement with Banco Santander (transaction code D). Under the deal each Webster share was exchanged for 2.0548 Banco Santander American Depositary Shares (ADS) and $48.75 in cash. The cash component totaled approximately $1,391,380; the exchange resulted in receipt of roughly 58,646 Banco Santander ADS (fractional ADS were paid in cash). The Form 4 reports a $0.00 per-share price because the disposition was to the issuer as part of the transaction.

Key Details

• Transaction date: August 20, 2026 (Form filed August 21, 2026).
• Reported amount disposed: 28,541.125 Webster shares; transaction code D (disposition to issuer).
• Cash per share: $48.75; total cash received ≈ $1,391,379.84.
• ADS received: 2.0548 ADS per Webster share → ≈ 58,646.30 Banco Santander ADS.
• Price field: $0.00 (disposition to issuer, not an open-market sale).
• Shares owned after transaction: 0 (reporting person no longer beneficially owns any Webster common stock) (see footnote F2).
• Footnotes: F1 describes the exchange mechanics under the February 3, 2026 Transaction Agreement; F2 confirms no remaining Webster holdings.
• Filing timeliness: report filed the day after the transaction (no indication of lateness).

Context
This was part of an acquisition/reincorporation transaction with Banco Santander, not a standard open-market sale or a 10b5-1 trade — shares were exchanged under the merger terms for ADS and cash. For investors, note this reflects the corporate transaction mechanics rather than an independent insider sale signal.