Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 48

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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428,464 (1)Reflects (i) common shares issued (to) from Treasury stock for time-based restricted stock award grants, net of forfeitures, and the vesting of performance-based restricted stock awards of (30,559) and 32,079, in aggregate, during the three months ended September 30, 2025, and 2024, respectively, and 1,144,321 and 1,169,968, in aggregate, during the nine months ended September 30, 2025, and 2024, respectively; less (ii) common shares acquired outside of the Company’s common stock repurchase program related to stock compensation plan activity of 6,870 and 5,502 during the three months ended September 30, 2025, and 2024, respectively, and 399,644 and 355,034 during the nine months ended September 30, 2025, and 2024, respectively.Common Stock Repurchase ProgramThe Company maintains a common stock repurchase program, which was approved by the Board of Directors on October 24, 2017, that permits management to repurchase shares of Webster common stock in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the SEC, subject to the availability and trading price of stock, general market conditions, alternative uses for capital, regulatory considerations, and the Company’s financial performance. On April 30, 2025, the Board of Directors increased the Company’s authority to repurchase shares of Webster common stock under the repurchase program by $700.0 million. During the three and nine months ended September 30, 2025, the Company repurchased 2,231,026 and 7,320,994 shares, respectively, under the repurchase program at a weighted-average price of $58.17 and $53.19 per share, respectively, totaling $129.8 million and $389.4 million, respectively. At September 30, 2025, the Company’s remaining repurchase authority was $538.6 million.Preferred StockInformation regarding the Company’s preferred stock can be found within Note 12: Stockholders’ Equity in the Notes to Consolidated Financial Statements contained in Part II - Item 8. Financial Statements and Supplementary Data of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.