Kay Christopher E. 4

What Happened
Kay Christopher, Senior Executive Vice President of M&T Bank (MTB), received vested performance-based restricted stock units (RSUs) that settled into 5,997 shares on 2026-01-30. Of those, 1,436 shares were withheld to cover tax liabilities (value reported at $221.57 per share, $318,175). The RSUs were granted under the M&T Bank 2019 Equity Incentive Compensation Plan and had no purchase price to the reporting person.

Key Details

• Transaction date: January 30, 2026 (filed on Feb 3, 2026). Filing appears within the normal 2-business-day window.
• Shares acquired (vested RSUs): 3,655 shares (direct) + 2,342 shares (reported as derivative) = 5,997 shares acquired at $0.00 per share (RSUs grant/settlement).
• Shares disposed for taxes: 1,436 shares withheld at $221.57 per share, total $318,175.
• Net increase in shares held from this settlement: 5,997 − 1,436 = 4,561 shares (shares owned after transaction not stated in the filing).
• Relevant footnotes: F1–F3 indicate these were performance-based RSUs granted Jan 31 of 2023–2025 that vested on achievement of goals; the RSUs had no purchase price; shares were withheld to satisfy tax withholding.
• No 10b5-1 plan, gifts, or open-market trades are reported in this filing.

Context
This was a vesting/settlement of performance-based equity, not an open-market purchase or a voluntary sale. The tax-withholding (code F) is a routine administrative step and not a separate sale decision about the remainder of the shares. The filing does not provide the insider’s total post-transaction holdings.