Webster (WBS) COO Luis Massiani Receives Award, Withholds Shares

What Happened

• Luis Massiani, President and COO of Webster Financial Corporation, had 55,352 shares awarded/vested on 2026-08-13 (reported as an Award/Grant, code A; reported price $0.00). To satisfy tax obligations, 16,375 shares and 3,849 shares were surrendered/withheld (code F) at $79.07 per share, producing proceeds of $1,294,771 and $304,340 respectively (total ~$1,599,111). This was an award/vesting event with routine tax withholding, not an open-market purchase.

Key Details

• Transaction date: 2026-08-13; Form filed: 2026-08-17 (timely filing within standard 2 business days).
• Awarded shares: 55,352 (price reported $0.00). Withheld/disposed shares: 16,375 @ $79.07 ($1,294,771) and 3,849 @ $79.07 ($304,340); combined withheld value ≈ $1,599,111.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: Vesting was accelerated pursuant to the Transaction Agreement dated Feb 3, 2026, among Webster Financial Corporation, Banco Santander, S.A., and Webster Virginia Corporation (F1). F2 and F3 indicate the two withholding transactions covered performance-based and time-based restricted shares accelerated under that agreement.
• Transaction codes: A = Award/Grant; F = Payment of exercise price or tax liability (share withholding).

Context

• These transactions reflect accelerated vesting and routine tax withholding — common when restricted or performance shares vest. The withheld shares were used to pay taxes rather than sold in an open-market trade; such withholdings are not a direct signal of bullish or bearish insider sentiment.
• No indication of option exercise for a net purchase; this was a vesting event with tax-related disposals.