Form 4: Webster Financial Corp Executive Christopher J. Motl Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Christopher J. Motl, President of Commercial Banking at Webster Financial Corp, reported the disposal of common stock to cover tax obligations related to vested restricted stock units.
Summary
- Christopher J. Motl, a key executive at Webster Financial Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On May 6, 2024, Motl disposed of 3,462 shares and 694 shares of common stock at a price of $44.92 per share to satisfy tax withholding obligations.
- Following these transactions, Motl directly owns 55,491 shares of Webster Financial Corp common stock.
- He also indirectly owns 8,357.476 shares through a 401(k) plan.
Sentiment
Score: 7
Explanation: The sentiment is neutral as the filing reflects routine transactions related to tax obligations. There is no indication of significant positive or negative implications for the company.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, ensuring transparency and compliance with securities regulations.
Stakeholder Impact
- The stock disposal has a minimal impact on shareholders as it is related to tax obligations and does not indicate a change in the executive's long-term confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 2024-01-24 | Date of Power of Attorney execution, granting authority to Jennifer H. Daukas, Kristy Berner, and Katherine Vines Trumbull to act on behalf of Christopher J. Motl for SEC filings. |
| 2024-05-06 | Date of the stock disposal transactions. |
| 2024-05-07 | Date of the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.