4/A: M&T Bank Corp Director Corrects Security Title in Amended SEC Filing

Kirk W. Walters, a director of M&T Bank Corp, filed an amendment to a previous Form 4 to correct the security title from 'Common Stock' to 'Series H Perpetual Non-Cumulative Preferred Stock' for sales executed in August 2024.

Summary

• Kirk W. Walters, a director of M&T Bank Corp, filed an amended Form 4 with the SEC.
• The amendment corrects an error in the original Form 4 filed on August 23, 2024.
• The original filing incorrectly identified the security sold as 'Common Stock'.
• The corrected filing identifies the security as 'Series H Perpetual Non-Cumulative Preferred Stock'.
• The sales occurred between August 21 and August 23, 2024.
• The director sold 3,492 shares on August 21 at a weighted average price of $24.618.
• On August 22, 10,441 shares were sold at a weighted average price of $24.63.
• Finally, on August 23, 1,384 shares were sold at $24.65.
• The filing also details the director's holdings of common stock, including direct ownership of 3,698 shares and indirect ownership through a 401(k) plan (8 shares) and Gus & Bonnie, LLC (15,045 shares).
• The director also indirectly owns Series H Perpetual Non-Cumulative Preferred Stock through Gus & Bonnie, LLC (11,825 shares after the August 21 sale, 1,384 shares after the August 22 sale, and 0 shares after the August 23 sale).

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating standard corporate governance practices. The sales themselves are not inherently positive or negative without further context, but the transparency is a positive sign.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This particular filing is an amendment to correct a minor error, which is not uncommon.

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