Webster (NYSE: WBS) CAO gives up stake in Santander swap
Rhea-AI Filing Summary
WEBSTER FINANCIAL CORP (WBS) reported that Chief Accounting Officer Kristen Antonopoulos disposed of 6,230 shares of Webster common stock in connection with a corporate transaction involving Banco Santander, S.A. Under a February 3, 2026 Transaction Agreement, each Webster share was exchanged for the right to receive 2.0548 Banco Santander American Depositary Shares and $48.75 in cash on August 20, 2026. All of Antonopoulos’s Webster equity awards were converted into equivalent Banco Santander equity awards, and after the transaction she no longer beneficially owns any Webster common stock.
Positive
- None.
Negative
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Insider Trade Summary
Net Seller: 6,230 shares
Net Sell
1 txn
Insider
Antonopoulos Kristen
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock F1, F2, F3 | 6,230 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 0 shares (Direct)
Footnotes (3)
- 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. At the Closing Time, all equity awards held by the reporting person were converted to equivalent Banco Santander equity awards in accordance with the terms set forth in the Transaction Agreement,
- F3. 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 of: 6,230 shares of Common Stock
Exchange ratio: 2.0548 Banco Santander American Depositary Shares per Webster share
Cash consideration per share: $48.75 in cash per share
+2 more
5 metrics
Shares disposed of
6,230 shares of Common Stock
Disposition to issuer in Banco Santander transaction on August 20, 2026
Exchange ratio
2.0548 Banco Santander American Depositary Shares per Webster share
Consideration under the Transaction Agreement at the closing date
Cash consideration per share
$48.75 in cash per share
Paid without interest for each Webster share at closing
Webster closing price
$77.57 per share
Closing price on NYSE on last trading day before August 20, 2026
Shares owned after transaction
0 shares of Webster common stock
Reporting person’s beneficial ownership following completion of the transaction
Key Terms
reincorporation merger, American Depositary Shares, beneficially owns, equity awards
4 terms
reincorporation merger regulatory
"the reincorporation merger between Webster and Webster Virginia was exchanged"
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 regulatory
"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.
equity awards financial
"all equity awards held by the reporting person were converted to equivalent"
Equity awards are payments to employees or directors made in the form of company stock or rights to buy stock later, serving as a way to share ownership rather than cash. For investors, they matter because they align staff incentives with company performance, can increase the number of shares outstanding over time (which can reduce each share’s claim on profits), and create compensation costs that affect reported earnings.
FAQ
What did WBS disclose about Kristen Antonopoulos’s Webster Financial (WBS) holdings?
Kristen Antonopoulos, Chief Accounting Officer, disposed of 6,230 shares of Webster Financial common stock through a transaction with Banco Santander on August 20, 2026, and as a result no longer beneficially owns any Webster common stock.
What happened to Kristen Antonopoulos’s equity awards in the WBS transaction?
At the closing, all equity awards held by Kristen Antonopoulos were converted into equivalent Banco Santander equity awards in accordance with the terms of the February 3, 2026 Transaction Agreement.
Does Kristen Antonopoulos still own Webster Financial (WBS) stock after the transaction?
No. The filing reports that, as a result of the Banco Santander transaction, Kristen Antonopoulos no longer beneficially owns, directly or indirectly, any shares of Webster Financial’s common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
