Webster (WBS) EVP Kristy Berner Sells 30,596 Shares

What Happened
Kristy Berner, EVP, General Counsel & Corporate Secretary of Webster Financial Corporation, reported a disposition of 30,596.369 shares of Webster common stock on August 20, 2026. Per the transaction agreement, each Webster share was exchanged for the right to receive 2.0548 Banco Santander American Depositary Shares (ADS) and $48.75 in cash. The cash component totals approximately $1,491,573 and the share conversion yields roughly 62,869 Banco Santander ADS. The Form 4 reports the transaction as a disposition to the issuer (no open‑market sale).

Key Details

• Transaction date: August 20, 2026 (reported on Form 4 filed August 21, 2026). Filing appears timely (filed one business day after the transaction).
• Form 4 price: $0.00 per share (reported as a non‑market disposal); cash consideration was $48.75 per Webster share.
• Consideration received: ≈ $1,491,573 cash + ~62,869 Banco Santander ADS (2.0548 ADS per Webster share).
• Shares owned after transaction: Reporting person no longer beneficially owns any Webster common stock (per filing).
• Notable footnotes: transaction was pursuant to the February 3, 2026 Transaction Agreement in connection with Webster’s reincorporation merger and acquisition by Banco Santander; fractional shares were paid in cash; existing Webster equity awards converted into equivalent Banco Santander awards.

Context
This was a corporate reorganization/merger exchange, not an open‑market sale by the insider. Such dispositions reflect the terms of the deal (exchange + cash) rather than an individual’s choice to sell shares on the market. All outstanding Webster equity awards were converted to Banco Santander awards in the transaction.