Webster Financial Corp. Announces Board and Executive Changes
Ticker: WBS-PG · Form: 8-K · Filed: Jul 15, 2024 · CIK: 801337
| Field | Detail |
|---|---|
| Company | Webster Financial Corp (WBS-PG) |
| Form Type | 8-K |
| Filed Date | Jul 15, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $650,000, $750,000, $200,000, $600,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: WBS
TL;DR
Webster Financial Corp. (WBS) filed an 8-K on 7/15/24, announcing board changes and executive compensation updates.
AI Summary
On July 15, 2024, Webster Financial Corporation filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers. Specific details regarding the individuals involved and the financial implications of these arrangements are outlined within the report.
Why It Matters
Changes in a company's board of directors and executive compensation can signal shifts in strategy, governance, or financial priorities, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns corporate governance and executive compensation, which typically have a low direct risk impact unless specific financial improprieties or significant strategic shifts are disclosed.
Key Players & Entities
- Webster Financial Corporation (company) — Registrant
- July 15, 2024 (date) — Date of report
- Delaware (jurisdiction) — State of incorporation
- 001-31486 (commission_file_number) — SEC file number
- 06-1187536 (irs_number) — IRS Employer Identification No.
- 200 Elm Street, Stamford, Connecticut 06902 (address) — Principal executive office address
FAQ
What specific items are covered in the 8-K filing by Webster Financial Corporation on July 15, 2024?
The 8-K filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is the principal executive office address for Webster Financial Corporation?
The principal executive office address for Webster Financial Corporation is 200 Elm Street, Stamford, Connecticut 06902.
In which state is Webster Financial Corporation incorporated?
Webster Financial Corporation is incorporated in Delaware.
What is the SEC file number for Webster Financial Corporation?
The SEC file number for Webster Financial Corporation is 001-31486.
What is the IRS Employer Identification Number for Webster Financial Corporation?
The IRS Employer Identification Number for Webster Financial Corporation is 06-1187536.
Filing Stats: 1,318 words · 5 min read · ~4 pages · Grade level 11.5 · Accepted 2024-07-15 09:15:06
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share WBS New York Stock Exchan
- $650,000 — d will receive an annual base salary of $650,000, a target annual cash incentive award o
- $750,000 — olland will receive a one-time grant of $750,000 of Webster restricted stock with a time
- $200,000 — ck Incentive Plan. He will also receive $200,000 in a cash sign-on award (half paid at t
- $600,000 — d half to be paid six months later) and $600,000 in cross-country relocation benefits. T
Filing Documents
- d578389d8k.htm (8-K) — 36KB
- d578389dex101.htm (EX-10.1) — 110KB
- d578389dex102.htm (EX-10.2) — 43KB
- d578389dex991.htm (EX-99.1) — 7KB
- g578389g15o07.jpg (GRAPHIC) — 16KB
- 0001193125-24-178861.txt ( ) — 425KB
- wbs-20240715.xsd (EX-101.SCH) — 4KB
- wbs-20240715_def.xml (EX-101.DEF) — 13KB
- wbs-20240715_lab.xml (EX-101.LAB) — 22KB
- wbs-20240715_pre.xml (EX-101.PRE) — 14KB
- d578389d8k_htm.xml (XML) — 7KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. 10.1 Change in Control Agreement, dated as of July 15, 2024, by and between Webster Financial Corporation and William Neal Holland 10.2 Non-Competition Agreement, dated as of July 15, 2024, by and between Webster Financial Corporation and William Neal Holland 99.1 Press Release, dated July 15, 2024 104 Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WEBSTER FINANCIAL CORPORATION (Registrant) Date: July 15, 2024 /s/ Kristy Berner Kristy Berner Executive Vice President and General Counsel