Director Laurence C. Morse filed a Form 4 with the SEC on August 21, 2026, reporting the disposition of all directly and indirectly held shares of Webster Financial Corporation common stock on August 20, 2026, in connection with the company's acquisition by Banco Santander, S.A.

Key Highlights

  • Full disposition: Morse disposed of 8,024.6976 shares held directly and 18,808 shares held indirectly through a trust, both at a price of $0, as the consideration was paid by Banco Santander rather than Webster.
  • Transaction terms: Each Webster common share was exchanged for 2.0548 Banco Santander American Depositary Shares and $48.75 in cash, without interest, per the Transaction Agreement dated February 3, 2026.
  • Closing date: The transaction closed on August 20, 2026, which the filing identifies as the "Closing Date."
  • Last trading price: The closing price of Webster common stock on NYSE on the last trading day prior to the Closing Date was $77.57, according to the filing.
  • Zero remaining ownership: The filing states that "as a result of the transaction, the reporting person no longer beneficially owns, directly or indirectly, any shares of Webster's common stock."
  • Fractional shares: All fractional shares were paid in cash, per the filing.

Director Morse Exits Webster Financial Position Following Santander Acquisition Closing

According to the Form 4 filed on August 21, 2026, Laurence C. Morse, a director of Webster Financial Corporation (NYSE:WBS), reported the disposition of his entire beneficial ownership in the company's common stock. The transactions, both coded "D" for disposed, occurred on August 20, 2026, the date the acquisition by Banco Santander, S.A. closed under the terms of the Transaction Agreement dated February 3, 2026.

The filing identifies two separate dispositions. Morse disposed of 8,024.6976 shares held directly and 18,808 shares held indirectly through a trust. Both dispositions carried a recorded price of $0 in the Form 4, reflecting that the consideration was delivered by Banco Santander rather than through a conventional open-market sale. The merger structure involved a reincorporation merger between Webster Financial Corporation and Webster Virginia Corporation, after which each outstanding Webster common share was exchanged for the right to receive 2.0548 Banco Santander American Depositary Shares and $48.75 in cash, without interest.

The filing notes 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. Following completion of the transaction, the filing confirms that Morse holds no remaining direct or indirect beneficial ownership of Webster common stock. The Form 4 was signed by Bradley Larkin as attorney-in-fact on August 21, 2026.

What Was Disclosed

Director Laurence C. Morse reported the full disposition of 8,024.6976 direct shares and 18,808 trust-held shares of Webster Financial common stock on August 20, 2026, pursuant to the Banco Santander acquisition, resulting in zero remaining beneficial ownership.