Company: MTB-PJ
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001193125-25-257002
Chunk: 32

Company: M&T BANK CORP
Filing Date: 2025-10-30
Form: 424B5
Chunk 32
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 exchange, or withdrawal of any depositary shares or the shares of the Preferred Stock until such taxes or other governmental charges are paid.

Redemption of Depositary Shares

If we
redeem the Preferred Stock, in whole or in part, as described above under “Description of Series K Preferred Stock—Redemption,” depositary shares also will be redeemed with the proceeds received by the depositary from the
redemption of the Preferred Stock held by the depositary. The redemption price per depositary share will be 1/400th of the redemption price per share payable with respect to the Preferred Stock, plus any dividends that have been declared
but not paid prior to the redemption date, without accumulation of undeclared dividends.

If we redeem shares of the Preferred Stock held
by the depositary, the depositary will redeem, as of the same redemption date, the number of depositary shares representing those shares of the Preferred Stock so redeemed.

S-19

If we redeem less than all of the outstanding depositary shares, the depositary will select by lot or pro rata those depositary shares to be redeemed. The depositary will send notice of redemption to record holders of the depositary receipts not less than 30, and not more than 90, days prior to the date fixed for redemption of the Preferred Stock and the related depositary shares. Voting the Preferred Stock Because each depositary share represents a 1/400th interest in a share of the Preferred Stock, holders of depositary receipts will be entitled to 1/400th of a vote per depositary share (or, in other words, holders of 400 depositary receipts will be entitled to one vote), except as to votes upon the occurrence of a Nonpayment Event on the Preferred Stock, in which case each depositary share will have relative voting rights in proportion to the liquidation preference of the Preferred Stock, under those limited circumstances in which holders of the Preferred Stock are entitled to a vote, as described above in “Description of Series K Preferred Stock—Voting Rights.” When the depositary receives notice of any meeting at which the holders of the Preferred Stock are entitled to vote, the depositary will send the information contained in the notice to the record holders of the depositary shares relating to the Preferred Stock. Each record holder of the depositary shares on the record date, which will be the same date as the record date for the Preferred Stock, may instruct the depositary to vote the amount of the Preferred Stock represented by the holder’s depositary shares.