Form 4: M&T Bank Corp Executive Vice President and Controller Reports Changes in Beneficial Ownership
SEC Form 4
John R. Taylor, EVP and Controller of M&T Bank Corp, reports acquisition and disposal of common stock related to performance-vested stock units.
Summary
- On February 14, 2025, John R. Taylor, EVP and Controller of M&T Bank Corp, reported changes in beneficial ownership of the company's common stock.
- Taylor acquired 232 shares of common stock at $0 related to performance-vested stock units granted on January 31, 2022, under the 2019 Equity Incentive Compensation Plan.
- These units were earned based on performance criteria for the three-year period ending December 31, 2024, as determined by the Compensation and Human Capital Committee on February 14, 2025.
- Additionally, 96 shares were withheld for taxes at a price of $198.82 upon settlement of these units.
- Following these transactions, Taylor directly owns 5,804.392 shares of common stock.
- Taylor also indirectly owns 1,009.728 shares through a spouse and 1,071 shares through a 401(k) plan as of December 31, 2024.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reflects routine transactions related to executive compensation. The vesting of performance-based units suggests positive performance, but the tax withholding is a neutral event.
Positives
- The vesting of performance-based stock units indicates that pre-established performance criteria were met, which could be viewed positively.
Negatives
- The withholding of 96 shares for taxes represents a reduction in the total number of shares acquired.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The vesting of performance-based stock units aligns executive compensation with company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| 2022-01-31 | Date performance-vested stock units were granted to the reporting person under the M&T Bank Corporation 2019 Equity Incentive Compensation Plan. |
| 2024-12-31 | End of the three-year performance period for the performance-vested stock units. |
| 2024-12-31 | Date of information presented for shares held by spouse and 401(k) plan. |
| 2025-02-14 | Date of transaction: acquisition and disposal of shares due to vesting of performance-vested stock units. |
| 2025-02-14 | Date the Company's Compensation and Human Capital Committee determined achievement against pre-established performance criteria. |
| 2025-02-19 | Date of signature for the Form 4 filing. |
Keywords
beneficial ownership, Form 4, M&T Bank Corp, MTB, John R. Taylor, EVP, Controller, performance-vested stock units, equity incentive plan, common stock
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