Form 4: Webster Financial Corp Executive James Griffin Reports Share Transactions
SEC Form 4 Filing
James Griffin, Head of Consumer Banking at Webster Financial Corp, reports acquisition and disposal of company shares due to vesting of restricted stock and performance shares, as well as tax withholding.
Summary
- James Griffin, Head of Consumer Banking at Webster Financial Corp, filed a Form 4 detailing changes in beneficial ownership of company stock.
- On March 3, 2025, Griffin acquired 3,688 shares of common stock through a time-based restricted share grant.
- He also acquired 5,284 shares through the vesting of performance shares based on performance metrics achieved during the three-year period ending December 31, 2024.
- Simultaneously, Griffin disposed of 1,977 shares and 1,338 shares to cover tax withholdings related to the vesting of performance shares and time-based restricted shares, respectively, at a price of $56.32 per share.
- Following these transactions, Griffin directly owns 16,930 shares and indirectly owns 5,341.53 shares through a 401(k) plan.
- Griffin has also granted power of attorney to Bradley Larkin, Brendan Davin, Peter Sturzinger and Kristy Berner to handle SEC filings on his behalf.
Sentiment
Score: 6
Explanation: The document reflects routine executive stock transactions related to compensation and vesting schedules, indicating a neutral sentiment.
Positives
- The vesting of performance shares suggests the company met its performance metrics for the three-year period ending December 31, 2024.
Future Outlook
The time-based restricted shares will vest in three equal installments over the next three years.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry to ensure transparency and compliance with SEC regulations.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and do not indicate a change in the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 2022/03/01 | Date of grant of certain performance shares and time-based restricted shares. |
| 2023/03/01 | Date of grant of certain time-based restricted shares. |
| 2024/03/01 | Date of grant of certain time-based restricted shares. |
| 2024/12/31 | End of the three-year performance period for performance shares. |
| 2025/01/29 | Compensation and Human Resources Committee approved the vesting of performance shares. |
| 2025/02/11 | Date of execution of Power of Attorney. |
| 2025/03/01 | Effective date of performance shares vesting. |
| 2025/03/03 | Date of transactions (share grant, vesting, and tax withholding). |
| 2025/03/05 | Date of signature of the report. |
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.