M&T Bank (MTB) director Herbert Washington awarded 664 RSUs for board service
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
WASHINGTON HERBERT L reported acquisition or exercise transactions in this Form 4 filing.
M&T Bank Corporation director Herbert L. Washington reported a new equity award and updated his holdings. He received 664 restricted stock units of M&T Bank Corporation common stock as a grant for service on the Board of Directors. The award was made at no cash cost to him and increases his directly held common stock position to 18,299 shares after the grant.
Each restricted stock unit vests on the first anniversary of the grant and represents a contingent right to receive one share of common stock upon vesting. The filing also shows an indirect holding of 500 common shares held by his wife.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
WASHINGTON HERBERT L
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 664 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 18,299 shares (Direct, null);
Common Stock — 500 shares (Indirect, By Wife)
Footnotes (1)
- [object Object]
Key Figures
RSUs granted: 664 units
Direct shares after grant: 18,299 shares
Indirect shares by wife: 500 shares
+1 more
4 metrics
RSUs granted
664 units
Restricted stock units granted for Board service
Direct shares after grant
18,299 shares
Common stock directly held after reported award
Indirect shares by wife
500 shares
Common stock held indirectly through spouse
Grant price
$0.0000 per share
Reported price per share for RSU grant
Key Terms
restricted stock units, Equity Incentive Compensation Plan, Board of Directors, contingent right to receive one share
4 terms
restricted stock units financial
"The reporting person was granted an award of restricted stock units under the M&T Bank Corporation 2019 Equity Incentive Compensation Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Equity Incentive Compensation Plan financial
"under the M&T Bank Corporation 2019 Equity Incentive Compensation Plan, as amended and restated"
Board of Directors financial
"for service on the M&T Bank Corporation Board of Directors"
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
FAQ
What insider transaction did M&T Bank (MTB) director Herbert Washington report?
Herbert L. Washington reported receiving 664 restricted stock units of M&T Bank common stock as a grant for Board service. The units were granted at no cash cost and increase his directly held position to 18,299 shares after the award.
What are the terms of Herbert Washington’s restricted stock units from M&T Bank (MTB)?
The 664 restricted stock units each represent a contingent right to receive one M&T Bank common share. According to the filing, every unit vests on the first anniversary of the grant date, at which time the shares become deliverable to the director.
Was there any purchase or sale of M&T Bank (MTB) stock in this Form 4?
The filing shows an acquisition through a grant of 664 restricted stock units rather than an open-market purchase. It also lists 500 shares held indirectly by his wife as a holding entry, without indicating an associated purchase or sale transaction in the reported data.
Why did M&T Bank (MTB) grant restricted stock units to Herbert Washington?
The restricted stock units were granted under the M&T Bank Corporation 2019 Equity Incentive Compensation Plan for his service on the Board of Directors. Such equity-based awards are a standard form of director compensation, aligning board members’ interests with long-term shareholder value.