Form 4: M&T Bank Vice Chairman Transfers Shares to Spousal Trust

M&T Bank Vice Chairman Kevin J. Pearson transferred 4,330 shares of common stock from a Grantor Retained Annuity Trust to a Spousal Lifetime Access Trust on November 14, 2024.

Summary

• M&T Bank Vice Chairman Kevin J. Pearson reported a change in beneficial ownership of M&T Bank Corp stock.
• On November 14, 2024, Mr. Pearson transferred 4,330 shares of common stock from a Grantor Retained Annuity Trust (2020 GRAT) to a Spousal Lifetime Access Trust (SLAT).
• The transfer was a result of the termination of the 2020 GRAT.
• The SLAT is for the benefit of Mr. Pearson's spouse and descendants, with his spouse acting as a co-trustee.
• Mr. Pearson also indirectly owns 3,368 shares through a 401(k) plan and 3,621 phantom common stock units through a supplemental 401(k) plan.
• The phantom common stock units are payable in cash and distributed according to the plan terms.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding a stock transfer, and does not contain any information that would indicate positive or negative sentiment.

Industry Context

This is a routine filing related to changes in beneficial ownership by a company executive and is not indicative of any broader industry trends.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders and are required by the SEC.
• The transfer of shares to a trust is a common estate planning strategy for executives.
• The use of GRATs and SLATs is a well-established method for transferring assets while minimizing tax implications.

Stakeholder Impact

• The transaction has no immediate impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

M&T Bank, stock transfer, beneficial ownership, Form 4, Kevin J. Pearson, trust, GRAT, SLAT, 401k, phantom stock