Form 4: M&T Bank Corp Executive Julianne Urban Reports Stock Transactions
SEC Form 4 Filing
Julianne Urban, Sr. EVP & Chief Auditor of M&T Bank Corp, reports acquisition of shares through vesting of restricted stock units and disposition of shares for tax withholding.
Summary
- On January 31, 2025, Julianne Urban, Sr. EVP & Chief Auditor of M&T Bank Corp, acquired 791 shares of common stock due to the vesting of performance-based restricted stock units.
- These restricted stock units were granted on January 31, 2022, January 31, 2023 and January 31, 2024, under the M&T Bank Corporation 2019 Equity Incentive Compensation Plan and vested upon achievement of performance goals.
- Also on January 31, 2025, 324 shares were withheld for taxes upon the settlement of these restricted stock units at a price of $201.24.
- Following these transactions, Urban directly owns 6,816 shares of M&T Bank Corp common stock.
- Urban also acquired 573 options (right to buy) at a price of $201.24 on 01/31/2025, exercisable ratably on the first, second and third anniversary of the grant date, expiring on 01/31/2035.
- Following these transactions, Urban directly owns 573 options.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It reflects routine transactions related to executive compensation. The vesting of restricted stock units suggests positive performance, but the tax withholding is a standard procedure.
Positives
- The vesting of performance-based restricted stock units suggests that performance goals were met, which could be viewed positively.
Negatives
- The sale of shares to cover tax obligations reduces the executive's holdings, although this is a common practice.
Risks
- There are no specific risks mentioned in this document.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices at M&T Bank Corp.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, and restricted stock units.
- The vesting of performance-based restricted stock units is a common incentive mechanism to align executive interests with shareholder value.
- Tax withholding upon vesting of equity awards is a standard practice across publicly traded companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 01/31/2022 | Date of grant of performance-based restricted stock units. |
| 01/31/2023 | Date of grant of performance-based restricted stock units. |
| 01/31/2024 | Date of grant of performance-based restricted stock units. |
| 01/31/2025 | Date of stock acquisition and disposition, and option grant. |
| 01/31/2035 | Expiration date of the options. |
| 02/04/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, M&T Bank Corp, MTB, Julianne Urban, insider trading, stock options, restricted stock units, executive compensation
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