Webster (WBS) Chief Accounting Officer Kristen Antonopoulos Disposes 6,230 Shares

What Happened

• Kristen Antonopoulos, Chief Accounting Officer of Webster Financial Corporation, reported a disposition of 6,230 shares of Webster common stock on August 20, 2026. The Form 4 shows the shares as disposed to the issuer (reported at $0), but footnotes clarify this was part of the company’s transaction agreement with Banco Santander.
• Under the Transaction Agreement, each Webster share was exchanged for $48.75 in cash and 2.0548 Banco Santander American Depositary Shares (ADS). For 6,230 shares that equates to $303,712.50 in cash plus approximately 12,801.4 Banco Santander ADS. After the closing, the reporting person no longer beneficially owns any Webster common stock.

Key Details

• Transaction date: August 20, 2026 (reported on Form 4 filed Aug 21, 2026 — timely).
• Filing shows disposition to issuer at $0 (the $0 reflects the in-kind corporate transaction, not an open-market sale).
• Cash component: $48.75 per share → 6,230 × $48.75 = $303,712.50.
• ADS component: 2.0548 Banco Santander ADS per Webster share → ~12,801.4 ADS for 6,230 shares.
• Shares owned after transaction: 0 Webster common shares.
• Notable footnotes: all equity awards were converted to equivalent Banco Santander equity awards under the Transaction Agreement; fractional shares were paid in cash; closing NYSE price of Webster the last trading day prior to closing was $77.57.

Context

• This was an acquisition/reincorporation transaction (Webster/Webster Virginia into Banco Santander) that converted Webster stock into cash plus Banco Santander ADS and converted existing Webster equity awards to Banco Santander awards. It is a corporate M&A disposition rather than an insider-initiated open-market sale, so it reflects the terms of the deal rather than an executive trading decision.