SEC Form 4 · accession 0001209191-15-005563
M&T BANK CORP · MTB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Darren J King
Officer — Executive Vice President
Period of report
Jan 16, 2015
Accepted (ET)
Jan 21, 2015 · 5:54 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000036270
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 16, 2015 | M | 982 | $101.80 | A | 18,837 | D | |
| Common StockF1 | Jan 16, 2015 | F | 870 | $115.03 | D | 17,967 | D | |
| Common StockF2 | holding | — | — | — | 1,782 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (right to buy)F4,F3 | $101.80 | Jan 16, 2015 | M | 982 | D | — | Jan 18, 2015 | Common Stock | 982 | 0 | D |
| Phantom Common Stock UnitsF2,F5 | — | holding | — | — | — | — | — | Common Stock | — | 102 | I |
Explanation of responses
- F1The reported transaction involved the automatic exercise of a stock option by M&T Bank Corporation pursuant to an Administrative Rule for Stock Award Grants approved by the Nomination, Compensation and Governance Committee of the Board of Directors of M&T Bank Corporation on November 16, 2010. Pursuant to this Administrative Rule, the reporting person's stock option that was set to expire on January 18, 2015 was automatically exercised on January 16, 2015, the last business day preceding the expiration date, and M&T Bank Corporation withheld an amount of M&T Bank Corporation common stock from the stock option having a fair market value equal to the sum of the exercise price and any amounts required to be withheld for tax purposes and issued the net shares to the reporting person.
- F2The information presented is as December 31, 2014.
- F3Currently exercisable.
- F4The option was granted under an employee stock option plan maintained by M&T Bank Corporation, and therefore the reporting person paid no price for the option.
- F5The reported phantom common stock units are held by the reporting person in an excess benefit plan account maintained by M&T Bank Corporation and represent a like number of shares of M&T Bank Corporation common stock. The phantom common stock units may only be settled in cash upon distribution in accordance with the terms of the plan. The reported phantom common stock units also include units acquired through the dividend reinvestment feature of the plan.