Webster Financial (WBS) CIO Vikram A. Nafde Receives Award, Sells Shares

What Happened

• Vikram A. Nafde, Chief Information Officer of Webster Financial Corporation (WBS), received an award of 13,865 shares (reported as a grant/acquisition) on 2026-08-13 and simultaneously had shares withheld/sold to satisfy tax obligations. Two withholding/disposition entries total 9,111 shares disposed at $79.07 each for proceeds of $508,104 and $212,303 (combined ≈ $720,407). The award was reported at $0.00 acquisition cost (typical for vested performance shares).

Key Details

• Transaction date: 2026-08-13.
• Award: 13,865 shares granted/vested (code A) reported at $0.00.
• Withholding/sales: 6,426 shares disposed @ $79.07 = $508,104; 2,685 shares disposed @ $79.07 = $212,303; total disposed = 9,111 shares for ≈ $720,407 (code F — tax withholding).
• Footnotes: F2 notes these performance shares vested early under the Transaction Agreement dated Feb 3, 2026 (Webster, Banco Santander, S.A., and Webster Virginia Corp.); F3 and F4 indicate the disposals were tax withholding on accelerated performance and time-based restricted shares; F1 notes 219.686 shares were purchased through Webster’s ESPP since the filer’s most recent Form 4.
• Shares owned after the transaction: not provided in the excerpt — consult the full Form 4 filing for post-transaction holdings.
• Filing timeliness: not indicated in the provided data.

Context

• This is a common cashless withholding event when restricted/performance shares vest: shares are surrendered/sold to cover taxes rather than the insider making a separate cash payment. It is not the same as an open-market sale meant to realize profits.
• The vesting was accelerated under a corporate Transaction Agreement (per footnotes), which often prompts one-time vesting and withholding events.