M&T Bank (MTB) CEO Rene F. Jones Exercises Options, Sells Shares

What Happened

• Rene F. Jones, Chairman of the Board and CEO of M&T Bank Corporation, exercised stock options on Sept 14, 2026 to acquire 16,770 shares at $190.78 per share (total cost ≈ $3,199,381). The related option/derivative position for 16,770 shares was converted/terminated. To cover tax liability and/or exercise cost, 15,101 shares were surrendered/withheld at $239.48 per share (value ≈ $3,616,387). Separately, 19,396 shares were sold in an open-market transaction at $239.35 per share (proceeds ≈ $4,642,433). Overall, this was an option exercise followed by withholding and sales — a routine cashless exercise and disposition rather than a straight purchase.

Key Details

• Transaction date: 2026-09-14; Form filed 2026-09-16 (timely filing).
• Option exercise: 16,770 shares @ $190.78 (acquired) — $3,199,381.
• Tax/exercise withholding: 15,101 shares @ $239.48 (disposed) — $3,616,387 (code F).
• Open-market sale: 19,396 shares @ $239.35 (disposed) — $4,642,433 (code S).
• Derivative conversion: 16,770 option shares were converted/terminated (code M, disposed @ $0).
• Shares owned after the transactions: not disclosed in the provided summary (see full Form 4 for post-transaction holdings).
• Notable footnotes: transaction(s) occurred automatically under a Rule 10b5-1 trading plan adopted June 12, 2026 (F1); fractional dividend reinvestment referenced (F2); some shares held in a custodial UGMA account for the reporting person’s daughter (F3); option was granted under the company equity plan at no cost to the insider and was currently exercisable (F5, F6).

Context

• This is a cashless exercise pattern: the insider exercised options to receive shares, some shares were withheld to cover taxes/exercise costs, and additional shares were sold, partly under an automatic 10b5-1 plan. Such transactions are common for executives exercising compensation awards and do not by themselves indicate a change in company outlook.