Form 4: M&T Bank Corp Executive Reports Changes in Beneficial Ownership

Darren J. King, a Senior Executive Vice President at M&T Bank Corp, reports changes in his beneficial ownership of company stock due to a distribution of phantom common stock units from a benefit plan.

Summary

• Darren J. King, a Senior Executive Vice President at M&T Bank Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The earliest transaction date reported is April 1, 2024.
• King directly owns 58,332.39 shares of M&T Bank Corp common stock.
• He also indirectly owns 1,450 shares through his son's custodial account, 1,450 shares through one daughter's account, 1,450 shares through another daughter's account, and 1,266 shares through a 401(k) plan.
• The reported transaction involves an automatic distribution of 164.9064 phantom common stock units from a benefit plan account, which were paid in cash.
• These units were acquired through the dividend reinvestment feature of the plan.
• The price of the derivative security was $143.6151.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock ownership changes, with no inherent positive or negative sentiment. It simply reflects routine transactions.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock ownership and transactions. It's a standard practice for executives at publicly traded companies like M&T Bank Corp.

Comparison to Industry Standards

• Form 4 filings are standard practice for executives at publicly traded companies and are comparable across the financial industry.
• Executives at companies like JPMorgan Chase, Bank of America, and Citigroup also regularly file Form 4s to report changes in their beneficial ownership.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock ownership of a key executive.
• It assures stakeholders that executives' interests are aligned with those of the company.

Key Dates