Webster director sells 6,261 shares in merger exit
WEBSTER FINANCIAL CORP (WBS) reports that director William David Haas disposed of 6,261 shares of Common Stock in a disposition to the issuer on August 20, 2026, in connection with a reincorporation merger involving Webster and Webster Virginia Corporation.
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Form Type
4
Rhea-AI Filing Summary
WEBSTER FINANCIAL CORP (WBS) reports that director William David Haas disposed of 6,261 shares of Common Stock in a disposition to the issuer on August 20, 2026, in connection with a reincorporation merger involving Webster and Webster Virginia Corporation. Each share was exchanged for the right to receive from Banco Santander 2.0548 American Depositary Shares and $48.75 in cash, without interest, as of the closing on August 20, 2026. Following this transaction, Haas no longer beneficially owns any shares of Webster common stock.
Insider Trade Summary
Disposition: 6,261 shares
Disposition
1 txn
Insider
Haas William David
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock F1, F2 | 6,261 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 0 shares (Direct)
Footnotes (2)
- F1. Disposed of pursuant to the transaction agreement dated February 3, 2026 (the "Transaction Agreement"), by and among Banco Santander, S.A. ("Banco Santander"), Webster Financial Corporation ("Webster") and Webster Virginia Corporation ("Webster Virginia"). Pursuant to the terms of the Transaction Agreement, each share of Webster common stock issued and outstanding immediately prior to the effective time of the reincorporation merger between Webster and Webster Virginia was exchanged for the right to receive from Banco Santander 2.0548 Banco Santander American Depositary Shares and $48.75 in cash, without interest on August 20, 2026 (the "Closing Date"). The closing price of Webster common stock on the New York Stock Exchange on the last trading day prior to the Closing Date was $77.57. All fractional shares were paid in cash.
- F2. As a result of the transaction, the reporting person no longer beneficially owns, directly or indirectly, any shares of Webster's common stock.
Key Figures
Shares disposed: 6,261 shares of Common Stock
Per-share cash consideration: $48.75 per share
Per-share stock consideration: 2.0548 Banco Santander American Depositary Shares per share
+4 more
7 metrics
Shares disposed
6,261 shares of Common Stock
Disposition to issuer on August 20, 2026 by director William David Haas
Per-share cash consideration
$48.75 per share
Cash portion of merger consideration from Banco Santander for each Webster share
Per-share stock consideration
2.0548 Banco Santander American Depositary Shares per share
Stock portion of merger consideration for each Webster common share
Closing price of Webster common stock
$77.57 per share
Closing price on NYSE on last trading day prior to August 20, 2026 closing date
Shares owned after transaction
0 shares
Reporting person no longer beneficially owns any Webster common stock after the transaction
Transaction Agreement date
February 3, 2026
Date of Transaction Agreement among Banco Santander, Webster, and Webster Virginia
Closing Date
August 20, 2026
Effective date for consideration exchange in the reincorporation merger
Key Terms
Disposition to issuer, American Depositary Shares, reincorporation merger, beneficially owns, +1 more
5 terms
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
reincorporation merger regulatory
"effective time of the reincorporation merger between Webster and Webster Virginia"
A reincorporation merger is a corporate action where a company creates or uses a new legal entity in a different jurisdiction and merges the old company into it, effectively changing its legal “home.” For investors it matters because the new legal address can alter taxes, shareholder rights, regulatory requirements and listing rules—think of it like a household moving to a new state where different laws and costs apply; the move can change paperwork, investor protections and potential long‑term value.
beneficially owns financial
"the reporting person no longer beneficially owns, directly or indirectly, any shares"
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
Transaction Agreement regulatory
"Disposed of pursuant to the transaction agreement dated February 3, 2026"
A transaction agreement is a legal contract that lays out the terms and steps for a specific business deal—such as a merger, acquisition, asset sale, financing, or securities purchase. It defines what each party must do, what is being exchanged, conditions that must be met, and how disputes are handled. For investors it matters because this document determines the rights, timing, risks, and potential payments they can expect from the deal, much like a recipe and schedule that guides a complex group project.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did WBS report for William David Haas?
William David Haas, a director of WEBSTER FINANCIAL CORP (WBS), reported a disposition to the issuer of 6,261 shares of Common Stock on August 20, 2026, executed in connection with a reincorporation merger involving Webster and Webster Virginia Corporation.
What was the market price of WBS stock cited in the Form 4?
The Form 4 states that the closing price of Webster Financial Corporation common stock on the New York Stock Exchange on the last trading day prior to the August 20, 2026 closing date was $77.57 per share.
Was the WBS insider transaction part of a merger process?
Yes. The disposition of shares was made pursuant to a Transaction Agreement dated February 3, 2026 among Banco Santander, S.A., Webster Financial Corporation, and Webster Virginia Corporation, under which a reincorporation merger was completed on August 20, 2026.
Did William David Haas receive cash proceeds in the WBS transaction?
The filing states that each share of Webster common stock was exchanged for $48.75 in cash plus 2.0548 Banco Santander American Depositary Shares per share; this consideration structure applied to the shares disposed of in the merger-related transaction.
AI-generated analysis. How Rhea-AI works. Not financial advice.
