Webster Financial (WBS) EVP Kristy Berner Receives Award, Withholds Shares

What Happened
Kristy Berner, EVP, General Counsel & Corporate Secretary of Webster Financial Corporation (WBS), had 14,948 shares granted/vested on August 13, 2026 as an accelerated award. To satisfy tax liabilities tied to the vesting, 6,635 shares and 1,898 shares were withheld at a reported price of $79.07 per share, generating values of $524,629 and $150,075 respectively (total withheld value $674,704). The primary action was an award/vesting event with shares withheld for taxes — not an open-market sale.

Key Details

• Transaction date: 2026-08-13 (reported on Form 4 filed 2026-08-17). Filing is within the normal two-business-day window.
• Award/acquisition: 14,948 shares @ $0.00 (code A — grant/vesting).
• Withheld for taxes: 6,635 shares @ $79.07 = $524,629 (code F); 1,898 shares @ $79.07 = $150,075 (code F). Total withheld: 8,533 shares (~$674,704).
• Shares owned after the transaction: not specified in the filing.
• Footnotes:
  • F1: Vesting was accelerated under the Transaction Agreement dated Feb 3, 2026, among Webster, Banco Santander, S.A., and Webster Virginia Corp.
  • F2: Tax withholding on accelerated performance shares.
  • F3: Tax withholding on accelerated time‑based restricted shares.
• Filing timeliness: Reported Aug 17, 2026 (timely within two business days from Aug 13 transaction).

Context
This was an accelerated vesting event tied to the Transaction Agreement (related to the Banc0 Santander transaction), with shares surrendered to cover tax obligations. That type of withholding is routine and should not be read as a market sale or a directional bet by the insider.