On August 21, 2026, Director Mark Pettie submitted a Form 4 to the SEC, revealing the sale of 35,993 shares of Webster Financial Corporation common stock on August 20, 2026, as part of the company’s merger with Banco Santander, S.A.
Key Highlights
Reporting individual: Mark Pettie, Director at Webster Financial Corporation
(NYSE:WBS)
Shares sold: 35,993 shares of Webster Financial common stock on August 20, 2026, at a recorded price of $0 per share
Transaction details: Disposition executed under the Transaction Agreement dated February 3, 2026, involving Banco Santander, S.A., Webster Financial Corporation, and Webster Virginia Corporation
Merger compensation: Each Webster common share was exchanged for 2.0548 Banco Santander American Depositary Shares plus $48.75 in cash, without interest
Last trading price: Webster common stock closed at $77.57 on the NYSE on the last trading day before the closing date
Post-transaction ownership: Mark Pettie no longer holds any beneficial interest in Webster common stock following the merger
Mark Pettie’s Webster Financial Shares Fully Divested in Banco Santander Acquisition
According to the Form 4 filed on August 21, 2026, Director Mark Pettie divested 35,993 shares of Webster Financial Corporation common stock on August 20, 2026. The transaction is categorized with code “D” (disposition), and the per-share price is listed as $0, indicating an exchange rather than a market sale.
The filing specifies that the disposition took place “pursuant to the transaction agreement dated February 3, 2026,” between Banco Santander, S.A., Webster Financial Corporation, and Webster Virginia Corporation. Under this 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 filing also notes that all fractional shares were compensated in cash.
The document reveals that the closing price of Webster common stock on the New York Stock Exchange on the last trading day before the Closing Date was $77.57. After the transaction’s completion, the filing confirms that Mark Pettie no longer beneficially owns any shares of Webster’s common stock, either directly or indirectly. The Form 4 was executed by Bradley Larkin as attorney-in-fact on August 21, 2026.
Summary of Disclosure
Director Mark Pettie disclosed the sale of 35,993 Webster Financial common shares on August 20, 2026, under the merger agreement with Banco Santander, S.A., resulting in zero remaining beneficial ownership of Webster common stock.