Webster (WBS) Chief Corp. Resp. Officer Marissa Weidner Sells 21,645 Shares

What Happened
Marissa Weidner, Chief Corporate Responsibility Officer of Webster Financial Corp., disposed of 21,645 shares of Webster common stock on August 20, 2026 as part of the transaction under the merger/acquisition agreement with Banco Santander. The Form 4 lists the disposition price as $0 (transaction code D), but 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 equals approximately $1,055,193.75; the ADS consideration is roughly 44,476 ADS (21,645 × 2.0548). After the closing, Weidner no longer beneficially owns any Webster common stock.

Key Details

• Transaction date: August 20, 2026 (Closing Date). Form filed August 21, 2026 (timely).
• Reported disposition: 21,645 shares; Form shows $0 per share because consideration was paid in Banco Santander ADS + cash.
• Cash consideration: $48.75 per Webster share → total cash ≈ $1,055,193.75.
• ADS consideration: 2.0548 Banco Santander ADS per Webster share → ~44,476 ADS in aggregate; fractional interests paid in cash.
• Shares owned after transaction: 0 Webster common shares (per filing).
• Notable footnotes: equity awards were converted to Banco Santander-equivalent awards under the transaction agreement.

Context
This was not a voluntary open-market sale but a corporate transaction (reincorporation/merger) in which Webster shareholders received Banco Santander ADS and cash. Such dispositions reflect deal consideration rather than an insider signaling to buy or sell; equity awards were also converted into Banco Santander awards.