Webster Financial Corp. Schedules Annual Meeting of Stockholders for April 24, 2024

Ticker: WBS-PG · Form: DEF 14A · Filed: Mar 15, 2024 · CIK: 801337

Webster Financial Corp DEF 14A Filing Summary
FieldDetail
CompanyWebster Financial Corp (WBS-PG)
Form TypeDEF 14A
Filed DateMar 15, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$60.8 b, $6.8 billion, $9 billion, $5.7 billion, $600.0 million
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Webster Financial, DEF 14A, Corporate Governance

TL;DR

<b>Webster Financial Corporation has filed its Definitive Proxy Statement for the Annual Meeting of Stockholders on April 24, 2024, which will be held virtually.</b>

AI Summary

WEBSTER FINANCIAL CORP (WBS-PG) filed a Proxy Statement (DEF 14A) with the SEC on March 15, 2024. Webster Financial Corporation will hold its Annual Meeting of Stockholders on Wednesday, April 24, 2024, at 3:00 p.m. Eastern Time. The meeting will be conducted virtually, with participation details available at www.virtualshareholdermeeting.com. The filing is a Definitive Proxy Statement (DEF 14A) filed on March 15, 2024. The company's fiscal year ends on December 31. Webster Financial Corporation is incorporated in Delaware and operates under the SIC code 6021 (National Commercial Banks).

Why It Matters

For investors and stakeholders tracking WEBSTER FINANCIAL CORP, this filing contains several important signals. This filing provides shareholders with crucial information regarding the upcoming annual meeting, including voting procedures and matters to be discussed, enabling informed participation. As a DEF 14A filing, it details executive compensation, board nominations, and other corporate governance matters, offering insight into the company's leadership and strategic direction.

Risk Assessment

Risk Level: low — WEBSTER FINANCIAL CORP shows low risk based on this filing. The filing is a routine proxy statement and does not contain new material financial information or significant operational changes that would inherently increase risk.

Analyst Insight

Review the proxy statement to understand executive compensation, board proposals, and voting matters before the April 24, 2024, Annual Meeting.

Key Numbers

  • 2024-04-24 — Annual Meeting Date (Date of the Annual Meeting of Stockholders)
  • 3:00 p.m. Eastern Time — Meeting Time (Scheduled time for the virtual meeting)
  • 2024-03-15 — Filing Date (Date the DEF 14A was filed)
  • 1231 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

  • WEBSTER FINANCIAL CORP (company) — Registrant
  • 2024-04-24 (date) — Annual Meeting Date
  • 2024-03-15 (date) — Filing Date
  • 0000801337 (company) — Central Index Key
  • 6021 (industry) — Standard Industrial Classification
  • DE (location) — State of Incorporation
  • 200 ELM STREET (address) — Business Address
  • 203-578-2202 (phone) — Business Phone

FAQ

When did WEBSTER FINANCIAL CORP file this DEF 14A?

WEBSTER FINANCIAL CORP filed this Proxy Statement (DEF 14A) with the SEC on March 15, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by WEBSTER FINANCIAL CORP (WBS-PG).

Where can I read the original DEF 14A filing from WEBSTER FINANCIAL CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by WEBSTER FINANCIAL CORP.

What are the key takeaways from WEBSTER FINANCIAL CORP's DEF 14A?

WEBSTER FINANCIAL CORP filed this DEF 14A on March 15, 2024. Key takeaways: Webster Financial Corporation will hold its Annual Meeting of Stockholders on Wednesday, April 24, 2024, at 3:00 p.m. Eastern Time.. The meeting will be conducted virtually, with participation details available at www.virtualshareholdermeeting.com.. The filing is a Definitive Proxy Statement (DEF 14A) filed on March 15, 2024..

Is WEBSTER FINANCIAL CORP a risky investment based on this filing?

Based on this DEF 14A, WEBSTER FINANCIAL CORP presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new material financial information or significant operational changes that would inherently increase risk.

What should investors do after reading WEBSTER FINANCIAL CORP's DEF 14A?

Review the proxy statement to understand executive compensation, board proposals, and voting matters before the April 24, 2024, Annual Meeting. The overall sentiment from this filing is neutral.

How does WEBSTER FINANCIAL CORP compare to its industry peers?

Webster Financial Corporation operates within the National Commercial Banks industry, a sector characterized by financial services, lending, and deposit-taking activities.

Are there regulatory concerns for WEBSTER FINANCIAL CORP?

As a publicly traded financial institution, Webster Financial Corporation is subject to regulations from the Securities and Exchange Commission (SEC) and banking authorities.

Industry Context

Webster Financial Corporation operates within the National Commercial Banks industry, a sector characterized by financial services, lending, and deposit-taking activities.

Regulatory Implications

As a publicly traded financial institution, Webster Financial Corporation is subject to regulations from the Securities and Exchange Commission (SEC) and banking authorities.

What Investors Should Do

  1. Review the full DEF 14A filing for details on director nominees, executive compensation, and any shareholder proposals.
  2. Note the virtual format of the Annual Meeting and ensure access to the virtual meeting platform.
  3. Determine voting preferences on all proposals before the Annual Meeting date to cast proxy votes.

Key Dates

  • 2024-04-24: Annual Meeting of Stockholders — Key date for shareholder voting and company updates.
  • 2024-03-15: Filing of DEF 14A — Indicates the availability of proxy information to shareholders.

Year-Over-Year Comparison

This filing is a DEF 14A, indicating it's the definitive proxy statement, likely following preliminary filings or as a standard annual disclosure.

Filing Stats: 4,470 words · 18 min read · ~15 pages · Grade level 14.6 · Accepted 2024-03-15 15:26:10

Key Financial Figures

  • $60.8 b — total deposits at December 31, 2023 of $60.8 billion, representing a net $6.8 billion
  • $6.8 billion — 23 of $60.8 billion, representing a net $6.8 billion increase as compared to its total depos
  • $9 billion — nagement platform that administers over $9 billion of deposits from FDIC-insured cash swee
  • $5.7 billion — t December 31, 2023, interLINK provided $5.7 billion of core deposit funding. Sterling Int
  • $600.0 million — n stock under the repurchase program by $600.0 million. During the year ended December 31, 202
  • $40.49 — program at a weighted-average price of $40.49 per share, totaling $108.0 million. At
  • $108.0 million — age price of $40.49 per share, totaling $108.0 million. At December 31, 2023, the Company's re
  • $293.4 million — pany's remaining purchase authority was $293.4 million. In addition, the Company periodicall
  • $51.48 — 9 shares at a weighted-average price of $51.48 per share, totaling $16.3 million for t
  • $16.3 million — age price of $51.48 per share, totaling $16.3 million for this purpose. 4|Webster Financial

Filing Documents

Executive Compensation

Executive Compensation 30 Compensation Discussion and Analysis 48 Compensation Committee Interlocks and Insider Participation 48 Compensation Committee Report 49

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 49 Securities Owned by Management 50 Principal Holders of Voting Securities of Webster 51 Say-on-Pay (Proposal 2) 52 Auditor Ratification (Proposal 3) 52 Auditor Fee Information 52 Pre-Approval Policies and Procedures 53 Audit Committee Report 54 Additional Information 54 Transactions with Related Persons 54 Policies and Procedures Regarding Transactions with Related Persons 54 Method of Proxy Solicitation 54 Householding of Proxy Materials 54 Electronic Delivery of Annual Meeting Materials 54 Where You Can Find More Information 55 Information Not Incorporated into This Proxy Statement 55 Stockholder Proposals and Director Nominations 56 Questions and Answers 59 Other Business INFORMATION REGARDING FORWARD-LOOKING STATEMENTS This Proxy Statement contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements can be identified by words such as "believes," "anticipates," "expects," "intends," "targets," "continues," "remains," "will," "should," "may," "plans," "estimates," and similar references to future periods; however, such words are not the exclusive means of identifying such statements. Any forward-looking statement made in this Proxy Statement speaks only as of the date on which it is made. Webster Financial Corporation ("Webster", "we", "our", "us" or the "Company") undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. For additional information, please see the other reports filed with the U.S. Securities and Exchange Commission (the "SEC"), including discussions under the "Forward-Looking Statements" and "Ri

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