Form 4: Webster Financial Corp Executive Receives Restricted Stock Grant and Settles Tax Obligations

James Griffin, Head of Consumer Banking at Webster Financial Corp, received a grant of restricted stock and settled tax obligations related to vesting shares.

Summary

• On March 1, 2024, James Griffin, Head of Consumer Banking at Webster Financial Corp, received 4,437 shares of restricted stock.
• These shares will vest in three equal installments over the next three years.
• Also on March 1, 2024, Griffin disposed of 579 and 514 shares of common stock at $47.64 per share to cover tax withholding obligations related to the vesting of restricted shares granted in 2022 and 2023.
• Following these transactions, Griffin directly owns 16,640.9998 shares of common stock and indirectly owns 5,112.641 shares through a 401(k) plan.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices and tax obligations, indicating a neutral sentiment.

Positives

• The grant of restricted stock aligns the executive's interests with those of the shareholders, incentivizing long-term performance.

Future Outlook

The executive's holdings in Webster Financial Corp are subject to ongoing changes due to vesting schedules and potential future transactions.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Grants of restricted stock are a common form of executive compensation in the financial services industry.

Stakeholder Impact

• Shareholders may view the restricted stock grant as a positive incentive for the executive.
• The transactions have a minimal direct impact on other stakeholders.

Key Dates