Sterling Bancorp (STL) director Landy returned to the company 382,514 shares

Insider transactions reported

James J Landy (director at Sterling Bancorp, STL) reported that they returned to the company 382,514 shares on Jan 31, 2022. After these transactions the filing shows 0 shares held directly and 0 shares held indirectly (Held Jointly with Spouse).

Reporting person

Landy James J

Holdings before and after

• Common Stock: 218,703 to 0 direct
• Common Stock: 15,240 to 0 indirect, Held Jointly with Spouse
• Common Stock: 148,571 to 0 indirect, By Spouse

Footnotes from the filing

1. 1. Includes 3,433 restricted stock awards of the Issuer (the Issuer RSAs ).
2. 2. Disposed of pursuant to the Merger Agreement between Issuer and Webster Financial Corporation ( Webster ), dated April 18, 2021 (the Merger Agreement ), for total stock consideration of 101,259 shares of new Webster common stock. Pursuant to the terms of the Merger Agreement, at the effective time of the merger between Issuer and Webster (the Effective Time ), each share of Issuer common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive 0.4630 shares of Webster common stock. All fractional share holdings were paid in cash. The Merger closed on January 31, 2022. On January 31, 2022, the closing price of the Issuer was $26.29, and the closing price of Webster was $56.81
3. 3. Pursuant to the terms of the Merger Agreement, at the Effective Time, the Issuer RSAs vested and were cancelled and converted into the number of shares of Webster common stock equal to the product of (A) the number of shares of Issuer common stock subject to such Issuer RSAs immediately prior to the Effective Time, multiplied by (B) the Exchange Ratio, with any fractional shares paid in cash.
4. 4. Disposed of pursuant to the Merger Agreement, for total stock consideration of 7,056 shares of new Webster common stock, as further described above.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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