Webster executive exits 20K shares in Santander deal

WEBSTER FINANCIAL CORP (WBS) reported that officer Benjamin L. Krynick, Head of Bank Operations, disposed of 20,182.510 shares of common stock in a disposition to the issuer on August 20, 2026.

Rhea-AI Filing Summary

WEBSTER FINANCIAL CORP (WBS) reported that officer Benjamin L. Krynick, Head of Bank Operations, disposed of 20,182.510 shares of common stock in a disposition to the issuer on August 20, 2026. The disposition occurred under a Transaction Agreement related to a reincorporation merger and Banco Santander’s acquisition structure.

Each Webster share was exchanged for the right to receive from Banco Santander 2.0548 American Depositary Shares plus $48.75 in cash, without interest, as of the closing on August 20, 2026. All of Krynick’s Webster equity awards were converted into equivalent Banco Santander equity awards, and he now holds no Webster common stock.

Insider Trade Summary

Disposition: 20,182.51 shares

Disposition 1 txn

Insider KRYNICK BENJAMIN L.

Role Head of Bank Operations

Type	Security	Shares	Price	Value
Disposition	Common Stock F1, F2, F3	20,182.51	$0.00	$0.00

Holdings After Transaction: Common Stock — 0 shares (Direct)

Footnotes (3)

1. 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.
2. 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.
3. 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: 20,182.510 shares of Common Stock Exchange ADS per WBS share: 2.0548 Banco Santander American Depositary Shares per Webster share Cash consideration per WBS share: $48.75 in cash per share +3 more

6 metrics

Shares disposed 20,182.510 shares of Common Stock Disposition to issuer on August 20, 2026 by Benjamin L. Krynick

Exchange ADS per WBS share 2.0548 Banco Santander American Depositary Shares per Webster share Consideration for each Webster common share at the Closing Date

Cash consideration per WBS share $48.75 in cash per share Cash portion of consideration for each Webster common share

WBS closing price reference $77.57 per share Closing price on NYSE on last trading day before August 20, 2026

Holdings after transaction 0 shares of Webster common stock Reported position following the August 20, 2026 disposition

Closing Date August 20, 2026 Effective closing date of the transaction with Banco Santander

Key Terms

reincorporation merger, American Depositary Shares, beneficially owns, equity awards

4 terms

reincorporation merger financial

"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.

American Depositary Shares financial

"receive from Banco Santander 2.0548 Banco Santander American Depositary Shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

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.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did WBS report for Benjamin L. Krynick?

WEBSTER FINANCIAL CORP reported that Benjamin L. Krynick disposed of 20,182.510 shares of Webster common stock on August 20, 2026, in a disposition to the issuer carried out under a Transaction Agreement connected to a reincorporation merger and Banco Santander’s acquisition structure.

How were WBS shares exchanged in the Banco Santander transaction?

Each share of Webster Financial (WBS) common stock was exchanged for the right to receive from Banco Santander 2.0548 American Depositary Shares plus $48.75 in cash, without interest, as of the August 20, 2026 closing date, with fractional shares settled in cash.

Does Benjamin L. Krynick still own any WBS common stock after this Form 4?

No. As a result of the transaction described, the reporting person no longer beneficially owns, directly or indirectly, any shares of Webster Financial Corp common stock, and the Form 4 shows 0 shares of WBS common stock held following the disposition.

What happened to Benjamin L. Krynick’s equity awards in WBS?

At the closing time of the transaction, all Webster equity awards held by Benjamin L. Krynick were converted into equivalent Banco Santander equity awards in accordance with the terms set forth in the Transaction Agreement among Banco Santander, Webster, and Webster Virginia.

What was the reference market price for WBS common stock at closing?

The reference market price disclosed is the $77.57 closing price of Webster Financial Corp common stock on the New York Stock Exchange on the last trading day before the August 20, 2026 closing date of the transaction with Banco Santander.

Was the WBS insider transaction under a Rule 10b5-1 trading plan?

The filing indicates the Rule 10b5-1 checkbox as not affirmed for this Form 4, and no footnote states that the disposition was made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/21/2026 - 09:18 AM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KRYNICK BENJAMIN L.

(Last) (First) (Middle)

C/O WEBSTER FINANCIAL CORP

200 ELM STREET

(Street)

STAMFORD CONNECTICUT 06902

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
WEBSTER FINANCIAL CORP [ WBS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Head of Bank Operations

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/20/2026		D(1)(2)		20,182.51	D	$0	0(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

2. 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.

3. As a result of the transaction, the reporting person no longer beneficially owns, directly or indirectly, any shares of Webster's common stock.

Remarks:

	/s/ Bradley Larkin, attorney-in-fact	08/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)