secwatch.observer — SEC 8-K summary
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Issuer:     WEBSTER FINANCIAL CORP (WBS)
CIK:        0000801337
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0000801337-24-000005
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Webster Financial appoints Luis Massiani President & COO; Ciulla becomes Chairman
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- Luis Massiani, currently President/COO of Webster Bank, appointed President/COO of the Company effective Feb 1, 2024.
- John Ciulla to succeed Jack Kopnisky as Chairman of both Boards; Kopnisky becomes strategic consultant.
- Massiani's salary increased to $900,000; new change-in-control and non-competition agreements entered.
- Christopher Motl's change-in-control severance multiple increased from 2x to 3x; effective Feb 1, 2024.
- No new compensatory arrangements for Ciulla in connection with his appointment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/801337/000080133724000005/0000801337-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/801337/000080133724000005/wbs-20240130.htm
  HTML page:      https://secwatch.observer/filing/0000801337-24-000005

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