Bible Daryl N. 4

What Happened
Daryl N. Bible, Senior EVP & Chief Financial Officer of M&T Bank (MTB), had performance-based restricted stock units (RSUs) vest on January 30, 2026. The filing shows two award events: 3,352 shares and 3,145 shares were acquired (awarded/settled) at $0.00 (performance-based RSUs). To cover tax withholding on the settlement, 1,472 shares were disposed/withheld at $221.57 per share, totaling $326,151. Net shares retained from the vesting were 5,025 (6,497 total vested − 1,472 withheld).

Key Details

• Transaction date: 2026-01-30; Form 4 filed 2026-02-03 (appears timely).
• Awards: 3,352 shares (A) and 3,145 shares (A, derivative) issued at $0.00 pursuant to performance-based RSU vesting.
• Tax withholding: 1,472 shares (F) withheld/disposed at $221.57 each = $326,151 withheld to satisfy tax liability.
• Net shares received: 5,025 (6,497 vested − 1,472 withheld).
• Footnotes: F1–F3 confirm these were performance-based RSUs granted under the M&T 2019 Equity Incentive Plan, vested upon achievement of performance goals, and no purchase price was paid; F4–F5 reference option vesting language included in the filing but are not part of these transactions.
• Shares owned after transaction: not disclosed in this Form 4.

Context
This was not an open-market sale or purchase but the routine settlement of performance-based RSUs upon achievement of performance goals. Withholding shares to cover taxes is a common administrative step and does not necessarily signal a change in the executive’s view of the company. The filing documents issuance and withholding; it does not indicate a market sale of shares beyond tax withholding.