MTB insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Rene Jones Chairman of the Board and CEO, Director	19,396	$239.35	13%	112K	Sep 14, 2026	Sep 16, 2026

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Rene Jones Chairman of the Board and CEO, Director	15,101	$239.48	10%	112K	Sep 14, 2026	Sep 16, 2026

What stands out

Four insiders sold $13.6M with no disclosed plan: John Barnes ($8.9M), Michael Wisler ($1.8M) and Christopher Kay ($1.7M), plus 1 more. The filings don't state a reason.John Barnes: largest such sale, Feb 9, 2026 · Michael Wisler: largest such sale, Feb 26, 2026 · Christopher Kay: largest such sale, Nov 26, 2025

Tax withholding outweighed market sales: the company withheld $32.8M of officers' and directors' shares for taxes, against $26.4M sold on the open market. The largest was Rene Jones ($27.6M withheld).Largest withholding, Feb 2, 2026

Percentages cover 8 of 25 officers and directors. 17 are left out

Left out: Rene Jones, John Barnes, Kevin Pearson, Christopher Kay, Tracy Woodrow and Richard Ledgett Jr. (not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 100.0 points higher (more than 3)); Robert Sadler Jr. (most holdings were last confirmed in 2021); Melinda Rich (not confirmed: 437 shares of balance changes are unexplained, more than 1% of the starting stake (23,008)); Peter D'Arcy (not confirmed: the ending holdings (12,737) differ from a plain reading of the latest filings (12,131)); John Taylor (not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 5.4 points higher (more than 3)); Julianne Urban (not confirmed: the ending holdings (8,458) differ from a plain reading of the latest filings (8,274)); Laura O'Hara (not confirmed: the ending holdings (9,559) differ from a plain reading of the latest filings (9,191)); Michael Wisler (not confirmed: read line by line, 151 shares of balance changes have no reported transaction behind them, more than 1% of the starting stake); Rudina Seseri (not confirmed: 82 shares of balance changes are unexplained, more than 1% of the starting stake (3,526)); Kirk Walters (holdings couldn't be fully reconciled); Neeraj Singh (not confirmed: a balance includes unvested units in an undisclosed amount, and no grant is visible to bound it); Jeremy Jacobs Jr. (held no vested shares at the start).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 10, 2025); the gold part is what they sold.

John Barnes

Director

Share of stake not shown: not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 100.0 points higher (more than 3). Why

$8.9MNo plan disclosed

Kevin Pearson

Vice Chairman

Exercised options and sold: 37% of the shares held or received (after tax withholding) during the period†. Stake: 44K → 48K. Why

$6.2MDisclosed plan

Rene Jones

Chairman of the Board and CEO, Director

Exercised options and sold: 14% of the shares held or received (after tax withholding) during the period†. Stake: 102K → 112K. Why

$4.6MDisclosed plan

Michael Wisler

Sr. Executive Vice President

Exercised options and sold: 65% of the shares held or received (after tax withholding) during the period†. Stake: 5.1K → 4.6K. Why

$1.8MNo plan disclosed

Christopher Kay

Sr. Executive Vice President

Share of stake not shown: not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 100.0 points higher (more than 3). Why

$1.7MNo plan disclosed

All 12 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planNo plan disclosedOne dollar scale for every month; the tallest bar is labeled

Outside holders, reported separately

Robert Sadler Jr. and Denis Salamone reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the M&T Bank CEO selling stock?

Yes. Rene Jones sold 19K shares ($4.6M) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are M&T Bank insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 42% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 58% had no disclosed plan. A trading plan schedules sales in advance.

Are any M&T Bank insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold12 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
John Barnes Director	$8.9M 39K shares	i No percentage: not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 100.0 points higher (more than 3).	No plan disclosed
Kevin Pearson Vice Chairman	$6.2M 27K shares	37%† Exercised options and sold. Stake: 44K → 48K i † Kevin Pearson exercised options and sold those shares, so this is shares sold as a share of the 44K held at the start plus the 36K received, less 5.6K withheld by the company for taxes.	Disclosed plan
Rene Jones Chairman of the Board and CEO, Director	$4.6M 19K shares	14%† Exercised options and sold. Stake: 102K → 112K i † Rene Jones exercised options and sold those shares, so this is shares sold as a share of the 102K held at the start plus the 156K received, less 125K withheld by the company for taxes.	Disclosed plan
Michael Wisler Sr. Executive Vice President	$1.8M 8.2K shares	65%† Exercised options and sold. Stake: 5.1K → 4.6K i † Michael Wisler exercised options and sold those shares, so this is shares sold as a share of the 5.1K held at the start plus the 9.7K received, less 2.1K withheld by the company for taxes.	No plan disclosed
Christopher Kay Sr. Executive Vice President	$1.7M 8.4K shares	i No percentage: not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 100.0 points higher (more than 3).	No plan disclosed
Robert Sadler Jr. Director	$1.1M 6K shares	i No percentage: most holdings were last confirmed in 2021.	No plan disclosed
John Taylor EVP and Controller	$724K 3K shares	i No percentage: not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 5.4 points higher (more than 3).	No plan disclosed
Tracy Woodrow Sr. Executive Vice President	$460K 1.9K shares	17%† Exercised options and sold. Stake: 7K → 9.6K i † Tracy Woodrow exercised options and sold those shares, so this is shares sold as a share of the 7K held at the start plus the 6.5K received, less 1.9K withheld by the company for taxes.	46% under a disclosed plan 54% no plan disclosed
Richard Ledgett Jr. Director	$212K 855 shares	i No percentage: not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 100.0 points higher (more than 3).	No plan disclosed
Kirk Walters Director	$209K 918 shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Gary Geisel Director	$191K 887 shares	5.1%	No plan disclosed
Rudina Seseri Director	$150K 623 shares	i No percentage: not confirmed: 82 shares of balance changes are unexplained, more than 1% of the starting stake (3,526).	No plan disclosed

Sold by a charitable foundation the insider reports: Sadler Family Foundation, reported by Robert Sadler Jr.; Family Foundation, reported by Denis Salamone. A foundation's shares are not the insider's own stake, so they are left out of the figures above.

The full ownership picture24 of 25 insiders fully reconciled · 25 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 10, 2025

Sold

Held Oct 10, 2026

Still held

Rene Jones

Minor difference of 173 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

Chairman of the Board and CEO, Director

102K

−19K

112K

not meaningful

Vesting, gifts, unvested awards and holding lines for Rene Jones

+102Kshares vested or exercised

−2Kgifted (net of own trusts)

−125Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	94,718	103,831
401(k) Plan	Common Stock	5,984	6,157
Daughter #1	Common Stock	867	1,067
Daughter #2	Common Stock	867	1,067

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
7,016	$138.10	Jan 31, 2034	$710K
10,599	$201.24	Jan 31, 2035	$404K
11,375	$221.57	Jan 30, 2036	$202K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Reconciliation: minor difference of 173 shares. Difference is under 0.5% of holdings.

Robert Sadler Jr.

Most of this insider's holdings were last confirmed in 2021. Confirmed in the last three years: 67,415 shares. Not confirmed since: 125,893 shares, left out of this row. "Still held" is not shown because it would cover only the smaller, confirmed part.

Director

73K

−6K

67K

see note

Vesting, gifts, unvested awards and holding lines for Robert Sadler Jr.

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Shares owned by Sadler Family Foundation are a charitable foundation's, listed separately and not counted here.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	19,013	27,614
GRAT	Common Stock	31,295	22,731
Spouse	Common Stock	23,070	17,070

Additional holdings last reported Apr 30, 2021, not confirmed since: 125,893 shares. Not included in any total or percentage on this page.

GRAT #2, Common Stock: 81,000 shares, last reported May 8, 2009
GRAT #4, Common Stock: 28,202 shares, last reported Dec 21, 2012
401 (k) Plan, Common Stock: 10,284 shares, last reported Feb 11, 2010
GRAT #1, Common Stock: 6,407 shares, last reported Apr 30, 2021

John Barnes

Includes unvested RSUs, amount not disclosed. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Director

54K

−39K

16K

29%

Vesting, gifts, unvested awards and holding lines for John Barnes

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	36,335	15,806
John P. Barnes Living Trust	Common Stock	17,866	0

Additional holdings last reported Jul 28, 2023, not confirmed since: 765 shares. Not included in any total or percentage on this page.

ESOP, Common Stock: 765 shares, last reported Jul 28, 2023

Denis Salamone

Includes unvested RSUs, amount not disclosed. Shares owned by Family Foundation are a charitable foundation's, listed separately and not counted here.

Director

52K

53K

no sales

Vesting, gifts, unvested awards and holding lines for Denis Salamone

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Shares owned by Family Foundation are a charitable foundation's, listed separately and not counted here.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	44,525	45,189
IRA	Common Stock	7,917	7,917

Kevin Pearson

Minor difference of 100 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

Vice Chairman

44K

−27K

48K

not meaningful

Vesting, gifts, unvested awards and holding lines for Kevin Pearson

+23Kshares vested or exercised

0gifted (net of own trusts)

−5.6Kwithheld by the company for taxes

22K → 33Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	40,849	44,107
401(k) Plan	Common Stock	3,441	3,541

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
8,770	$138.10	Jan 31, 2034	$888K
4,054	$201.24	Jan 31, 2035	$154K
3,915	$221.57	Jan 30, 2036	$70K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Reconciliation: minor difference of 100 shares. Difference is under 0.5% of holdings.

Daryl Bible

Includes unvested RSUs, amount not disclosed.

Sr. EVP & CFO

28K

27K

no sales

Vesting, gifts, unvested awards and holding lines for Daryl Bible

0shares vested or exercised

0gifted (net of own trusts)

−4.5Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	28,130	26,967

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
7,455	$138.10	Jan 31, 2034	$755K
3,366	$201.24	Jan 31, 2035	$128K
3,145	$221.57	Jan 30, 2036	$56K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Melinda Rich

Minor difference of 437 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Includes unvested RSUs, amount not disclosed. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Director

23K

24K

no sales

Vesting, gifts, unvested awards and holding lines for Melinda Rich

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Unexplained small increases, consistent with stock unit vesting or reinvested dividends.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	23,008	24,109

Additional holdings last reported Jul 1, 2011, not confirmed since: 200 shares. Not included in any total or percentage on this page.

N.P.I.C., LLC, Common Stock: 200 shares, last reported Jul 1, 2011

Reconciliation: minor difference of 437 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Herbert Washington

Includes unvested RSUs, amount not disclosed.

Director

18K

19K

no sales

Vesting, gifts, unvested awards and holding lines for Herbert Washington

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	17,635	18,299
Spouse	Common Stock	500	500

Gary Geisel

Holdings include unvested awards in an undisclosed amount, so the share sold may be up to 2.1 points higher. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Director

17K

−887

16K

95%

Vesting, gifts, unvested awards and holding lines for Gary Geisel

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Holdings include unvested awards in an undisclosed amount, so the share sold may be up to 2.1 points higher.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	17,333	16,465

Additional holdings last reported Jul 1, 2009, not confirmed since: 2,428 shares. Not included in any total or percentage on this page.

401 (k) Plan, Common Stock: 2,428 shares, last reported Jul 1, 2009

Christopher Kay

Includes unvested RSUs, amount not disclosed.

Sr. Executive Vice President

11K

−8.4K

6.8K

63%

Vesting, gifts, unvested awards and holding lines for Christopher Kay

0shares vested or exercised

0gifted (net of own trusts)

−3.3Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	10,751	6,753

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
5,262	$138.10	Jan 31, 2034	$533K
2,435	$201.24	Jan 31, 2035	$93K
2,342	$221.57	Jan 30, 2036	$42K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Peter D'Arcy

Sr. Executive Vice President

9.3K

13K

no sales

Vesting, gifts, unvested awards and holding lines for Peter D'Arcy

0shares vested or exercised

0gifted (net of own trusts)

−2.6Kwithheld by the company for taxes

961 → 1.3Kunvested awards, start → end

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct	Common Stock	9,319	12,737

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
4,035	$138.10	Jan 31, 2034	$409K
1,791	$201.24	Jan 31, 2035	$68K
1,941	$221.57	Jan 30, 2036	$35K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

William Cruger Jr.

Includes unvested RSUs, amount not disclosed.

Director

9.2K

9.9K

no sales

Vesting, gifts, unvested awards and holding lines for William Cruger Jr.

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	9,191	9,878

John Taylor

Minor difference of 32 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

EVP and Controller

7.5K

−3K

5.2K

70%

Vesting, gifts, unvested awards and holding lines for John Taylor

+269shares vested or exercised

0gifted (net of own trusts)

−337withheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	5,356	3,062
401(k) Plan	Common Stock	1,087	1,119
Spouse	Common Stock	1,010	1,010

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
877	$138.10	Jan 31, 2034	$89K
233	$201.24	Jan 31, 2035	$9K
235	$221.57	Jan 30, 2036	$4K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Reconciliation: minor difference of 32 shares. Difference is under 0.5% of holdings.

Julianne Urban

Sr. EVP & Chief Auditor

7.3K

8.5K

no sales

Vesting, gifts, unvested awards and holding lines for Julianne Urban

0shares vested or exercised

0gifted (net of own trusts)

−691withheld by the company for taxes

none reportedunvested awards, start → end

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct	Common Stock	7,339	8,458

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,246	$138.10	Jan 31, 2034	$126K
573	$201.24	Jan 31, 2035	$22K
770	$221.57	Jan 30, 2036	$14K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Laura O'Hara

Sr. EVP & Chief Legal Officer

7.3K

9.6K

no sales

Vesting, gifts, unvested awards and holding lines for Laura O'Hara

0shares vested or exercised

0gifted (net of own trusts)

−1.5Kwithheld by the company for taxes

none reportedunvested awards, start → end

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct	Common Stock	7,320	9,559

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
651	$169.38	Jan 30, 2032	$46K
1,958	$156.00	Jan 31, 2033	$163K
2,456	$138.10	Jan 31, 2034	$249K
1,146	$201.24	Jan 31, 2035	$44K
1,151	$221.57	Jan 30, 2036	$20K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Tracy Woodrow

Includes unvested RSUs, amount not disclosed.

Sr. Executive Vice President

−1.9K

9.6K

not meaningful

Vesting, gifts, unvested awards and holding lines for Tracy Woodrow

+1.9Kshares vested or exercised

0gifted (net of own trusts)

−1.9Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	6,952	9,608

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,189	$156.00	Jan 31, 2033	$99K
1,053	$138.10	Jan 31, 2034	$107K
1,397	$201.24	Jan 31, 2035	$53K
1,539	$221.57	Jan 30, 2036	$27K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Jane Chwick

Includes unvested RSUs, amount not disclosed.

Director

6.3K

no sales

Vesting, gifts, unvested awards and holding lines for Jane Chwick

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	6,330	6,994

Richard Ledgett Jr.

Includes unvested RSUs, amount not disclosed.

Director

5.3K

−855

5.1K

96%

Vesting, gifts, unvested awards and holding lines for Richard Ledgett Jr.

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	4,881	4,690
IRA	Common Stock	390	390

Michael Wisler

Minor difference of 151 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 151.467 shares from stock units or awards that vested. 151.467 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change.

Sr. Executive Vice President

5.1K

−8.2K

4.6K

not meaningful

Vesting, gifts, unvested awards and holding lines for Michael Wisler

+4.8Kshares vested or exercised

0gifted (net of own trusts)

−2.1Kwithheld by the company for taxes

none reportedunvested awards, start → end

151.467 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change. Filing

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct	Common Stock	5,065	4,643

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
976	$169.38	Jan 31, 2032	$68K
1,082	$138.10	Jan 31, 2034	$110K
1,576	$201.24	Jan 31, 2035	$60K
1,774	$221.57	Jan 30, 2036	$32K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Reconciliation: minor difference of 151 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 151.467 shares from stock units or awards that vested.

Leslie Godridge

Includes unvested RSUs, amount not disclosed.

Director

4.5K

5.1K

no sales

Vesting, gifts, unvested awards and holding lines for Leslie Godridge

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	4,457	5,121

Rudina Seseri

Minor difference of 82 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Includes unvested RSUs, amount not disclosed. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

3.5K

−623

3.6K

+3.5%

Vesting, gifts, unvested awards and holding lines for Rudina Seseri

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	3,526	3,649

Reconciliation: minor difference of 82 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Kirk Walters

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +3,922 shares on Feb 3, 2026 (Direct). See the filing Sales and other transactions for Kirk Walters are complete.

Director

n/a

−918

n/a

Vesting, gifts, unvested awards and holding lines for Kirk Walters

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +3,922 shares on Feb 3, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	2,963	6,640
401(k) Plan	Common Stock	9	0

Additional holdings last reported Aug 9, 2022, not confirmed since: 3 shares. Not included in any total or percentage on this page.

Shares allocated for the benefit of the reporting person under the People's United Employee Stock Ownership Plan, Common Stock: 3 shares, last reported Aug 9, 2022

Carlton Charles

Includes unvested RSUs, amount not disclosed.

Director

2.7K

3.4K

no sales

Vesting, gifts, unvested awards and holding lines for Carlton Charles

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	2,744	3,408

Neeraj Singh

Includes unvested RSUs, amount not disclosed.

Sr. Executive Vice President

2.7K

2.6K

no sales

Vesting, gifts, unvested awards and holding lines for Neeraj Singh

0shares vested or exercised

0gifted (net of own trusts)

−493withheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	2,728	2,632

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
860	$201.24	Jan 31, 2035	$33K
1,606	$221.57	Jan 30, 2036	$29K

Estimate: options held × ($239.35 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Jeremy Jacobs Jr.

Includes unvested RSUs, amount not disclosed.

Director

589

no sales

Vesting, gifts, unvested awards and holding lines for Jeremy Jacobs Jr.

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 10, 2025	Oct 10, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	0	589

24 of 25 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (18 exactly, 6 with a minor or footnoted difference). For 1 we show sales but not holdings; the ! icon on that row explains why. Percentages cover 8 of 25 officers and directors. Left out: Rene Jones, John Barnes, Kevin Pearson, Christopher Kay, Tracy Woodrow and Richard Ledgett Jr. (not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 100.0 points higher (more than 3)); Robert Sadler Jr. (most holdings were last confirmed in 2021); Melinda Rich (not confirmed: 437 shares of balance changes are unexplained, more than 1% of the starting stake (23,008)); Peter D'Arcy (not confirmed: the ending holdings (12,737) differ from a plain reading of the latest filings (12,131)); John Taylor (not confirmed: a balance includes unvested units in an undisclosed amount, and the share sold could be up to 5.4 points higher (more than 3)); Julianne Urban (not confirmed: the ending holdings (8,458) differ from a plain reading of the latest filings (8,274)); Laura O'Hara (not confirmed: the ending holdings (9,559) differ from a plain reading of the latest filings (9,191)); Michael Wisler (not confirmed: read line by line, 151 shares of balance changes have no reported transaction behind them, more than 1% of the starting stake); Rudina Seseri (not confirmed: 82 shares of balance changes are unexplained, more than 1% of the starting stake (3,526)); Kirk Walters (holdings couldn't be fully reconciled); Neeraj Singh (not confirmed: a balance includes unvested units in an undisclosed amount, and no grant is visible to bound it); Jeremy Jacobs Jr. (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$26.4M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $26.4M across 116,641 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $11.0M · 42%

58%

The lighter segment is sales with no plan disclosed in the filing ($15.3M), including tax-related sales outside a plan.

No plan disclosed · $15.3M

Sales with no 10b5-1 plan and no tax reference in the filing. $8.9M of it is John Barnes. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: John Barnes, Feb 9, 2026

Taxes

147,946 shares ($32.8M) were withheld by the company for taxes, which isn't a market sale.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
John Barnes Director	39K	$8.9M	0%	34%	Jan 22, 2026 to Feb 9, 2026
Kevin Pearson Vice Chairman	27K	$6.2M	100%	23%	Jun 4, 2026 to Jul 15, 2026
Rene Jones Chairman of the Board and CEO, Director	19K	$4.6M	100%	18%	Sep 14, 2026 to Sep 14, 2026
Michael Wisler Sr. Executive Vice President	8.2K	$1.8M	0%	7%	Feb 26, 2026 to Feb 26, 2026
Christopher Kay Sr. Executive Vice President	8.4K	$1.7M	0%	6%	Nov 26, 2025 to May 7, 2026
Robert Sadler Jr. Director	6K	$1.1M	0%	4%	Nov 25, 2025 to Nov 25, 2025
John Taylor EVP and Controller	3K	$724K	0%	3%	Feb 2, 2026 to Aug 17, 2026
Tracy Woodrow Sr. Executive Vice President	1.9K	$460K	46%	2%	Feb 11, 2026 to Jul 1, 2026
Richard Ledgett Jr. Director	855	$212K	0%	0.8%	Aug 3, 2026 to Aug 3, 2026
Kirk Walters Director	918	$209K	0%	0.8%	Feb 3, 2026 to Aug 5, 2026
Gary Geisel Director	887	$191K	0%	0.7%	Jan 28, 2026 to Jan 28, 2026
Rudina Seseri Director	623	$150K	0%	0.6%	Aug 21, 2026 to Aug 21, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$0	$0	$0	$0
Nov 2025	$2.1M	$0	$0	$2.1M
Dec 2025	$0	$0	$0	$0
Jan 2026	$4.1M	$0	$0	$4.1M
Feb 2026	$7.5M	$0	$0	$7.5M
Mar 2026	$0	$0	$0	$0
Apr 2026	$0	$0	$0	$0
May 2026	$672K	$0	$0	$672K
Jun 2026	$6.0M	$5.7M	$0	$256K
Jul 2026	$697K	$697K	$0	$0
Aug 2026	$674K	$0	$0	$674K
Sep 2026	$4.6M	$4.6M	$0	$0
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

In line with the past 5 years. 12 insiders sold; the average is 9 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 10, 2026 Latest 12 months	117K	12	$26.4M
Oct 10, 2025 1 year earlier	182K	15	$36.7M
Oct 10, 2024 2 years earlier	436K	10	$58.3M
Oct 11, 2023 3 years earlier	59K	3	$8.2M
Oct 11, 2022 4 years earlier	71K	10	$12.7M
Oct 11, 2021 5 years earlier	31K	6	$4.3M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty1 insider whose holdings couldn't be fully reconciled

Kirk Walters: holdings couldn't be fully reconciled (difference of 3,922 shares). Balance changed with no matching transaction and no footnote: +3,922 shares on Feb 3, 2026 (Direct). Filing, Feb 3, 2026

Rene Jones: minor difference of 173 shares. Difference is under 0.5% of holdings.

Kevin Pearson: minor difference of 100 shares. Difference is under 0.5% of holdings.

Melinda Rich: minor difference of 437 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

John Taylor: minor difference of 32 shares. Difference is under 0.5% of holdings.

Michael Wisler: minor difference of 151 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 151.467 shares from stock units or awards that vested.

Rudina Seseri: minor difference of 82 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Inferred rename: "Hodgson Share Ltd" is treated as the same holder as "Cinnamon Investmetns Limited", because the old name was never reported again and the new one opened with the same balance (45,000 shares). Old name, new name

Inferred rename: "Cinnamon Investmetns Limited" is treated as the same holder as "Cinnamon Investments Limited", because the old name was never reported again and the new one opened with the same balance (45,000 shares). Old name, new name

Inferred rename: "RER Family Partnership, L.P" is treated as the same holder as "N.P.I.C., LLC", because the old name was never reported again and the new one opened with the same balance (200 shares). Old name, new name

Inferred rename: "Daughter" is treated as the same holder as "Daughter #1", because the old name was never reported again and the new one opened with the same balance (867 shares). Old name, new name

Inferred rename: "GRAT #5" is treated as the same holder as "1999 Family Trust", because the old name was never reported again and the new one opened with the same balance (214,540 shares). Old name, new name

Inferred rename: "GRAT #6" is treated as the same holder as "2000 Family Trust", because the old name was never reported again and the new one opened with the same balance (224,766 shares). Old name, new name

Inferred rename: "ESOP" is treated as the same holder as "IRA", because the old name was never reported again and the new one opened with the same balance (7,917 shares). Old name, new name

Inferred rename: "401(k)" is treated as the same holder as "401(k) Plan", because the old name was never reported again and the new one opened with the same balance (8 shares). Old name, new name

Inferred rename: "401(k)" is treated as the same holder as "IRA", because the old name was never reported again and the new one opened with the same balance (575 shares). Old name, new name

Inferred typo: the share class "ommon Stock" is treated as the same class as "Common Stock" on 1 holding line, because the two spellings are nearly identical and each balance carried over exactly. Example (Neil Hosty, 790 shares): old title, new title

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology3,642 filings from SEC EDGAR, and how we read them

All 3,642 Forms 3, 4 and 5 filed for M&T Bank (SEC CIK 36270) from Apr 11, 2003 to Sep 16, 2026, retrieved from SEC EDGAR on Oct 10, 2026. Prices are the ones reported in each filing, often weighted averages. 1 older filing exists only on paper and could not be read.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (69)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Jefferson Cunningham III	Feb 4, 2025	14,785 shares, last reported balance as of Jan 31, 2025
Michael Todaro	Feb 4, 2025	4,375 shares, last reported balance as of Jan 31, 2025
Robert Bojdak	Jun 3, 2024	22,269 shares, last reported balance as of May 30, 2024
Doris Meister	May 7, 2024	No balance on record
Robert Brady	May 2, 2024	22,480 shares, last reported balance as of Apr 30, 2024
Darren King	Apr 29, 2024	63,948 shares, last reported balance as of Apr 1, 2024
John Scannell	Apr 19, 2024	4,393 shares, last reported balance as of Apr 16, 2024
Edna Warren	Feb 2, 2024	342 shares, last reported balance as of Jan 31, 2024
Scott Warman	Nov 17, 2023	18,946 shares, last reported balance as of Nov 14, 2023
Michael Spychala	Jul 10, 2023	44,925 shares, last reported balance as of Jun 30, 2023
Richard Gold	Apr 21, 2023	59,142 shares, last reported balance as of Apr 18, 2023
Michele Trolli	Mar 6, 2023	11,859 shares, last reported balance as of Mar 3, 2023
Calvin Butler Jr.	Jan 3, 2023	1,962 shares, last reported balance as of Dec 31, 2022
Angela Bontempo	May 16, 2022	15,763 shares, last reported balance as of Apr 25, 2022
Newton Merrill	May 16, 2022	3,969 shares, last reported balance as of Apr 25, 2022
Richard Grossi	May 16, 2022	4,764 shares, last reported balance as of Apr 25, 2022
David Scharfstein	May 16, 2022	3,179 shares, last reported balance as of Apr 25, 2022
John DAngelo	Feb 15, 2022	5,655 shares, last reported balance as of Feb 11, 2022
Gino Martocci	Feb 15, 2022	21,184 shares, last reported balance as of Feb 11, 2022
William Farrell II	Feb 1, 2022	13,349 shares, last reported balance as of Jan 24, 2022
John Hawke Jr.	Apr 28, 2021	6,570 shares, last reported balance as of Apr 20, 2021
Janet Coletti	Jun 25, 2020	17,361 shares, last reported balance as of Jun 16, 2020
Brent Baird	Apr 27, 2020	290,937 shares, last reported balance as of Apr 21, 2020
Brian Hickey	Jun 5, 2019	15,656 shares, last reported balance as of May 23, 2019
Sabeth Siddique	Apr 19, 2019	2,422 shares, last reported balance as of Apr 17, 2019
Robert Wilmers	Nov 29, 2017	8,897,115 shares, last reported balance as of Nov 27, 2017
Robert Wilmers	Nov 29, 2017	1,020,228 shares, last reported balance as of Nov 27, 2017
Neil Hosty	Apr 26, 2017	1,159 shares, last reported balance as of Mar 31, 2017
Edward Amoroso	Apr 5, 2017	324 shares, last reported balance as of Apr 3, 2017
Mark Czarnecki	Feb 2, 2017	63,711 shares, last reported balance as of Jan 31, 2017
Patrick Hodgson	Jan 5, 2017	59,869 shares, last reported balance as of Dec 26, 2016
Richard King	Sep 30, 2016	20,198 shares, last reported balance as of Sep 23, 2016
Drew Pfirrman	Aug 26, 2016	3,090 shares, last reported balance as of Aug 25, 2016
Jorge Pereira	May 1, 2015	7,037,800 shares, last reported balance as of Apr 21, 2015
Stephen Braunscheidel	Mar 10, 2015	17,722 shares, last reported balance as of Mar 1, 2015
Donald Truslow	Sep 26, 2014	943 shares, last reported balance as of Sep 16, 2014
Michael Pinto	Jan 14, 2014	124,827 shares, last reported balance as of Jan 3, 2014
Atwood Collins III	Jan 2, 2013	78,908 shares, last reported balance as of Dec 28, 2012
Robert Bennett	Apr 4, 2012	109,286 shares, last reported balance as of Apr 2, 2012
Michael Buckley	Apr 4, 2012	4,122 shares, last reported balance as of Apr 2, 2012
Donald Foley	May 25, 2011	751 shares, last reported balance as of May 16, 2011
James Beardi	Mar 29, 2011	72,949 shares, last reported balance as of Mar 25, 2011
ALLIED IRISH BANKS PLC	Nov 5, 2010	No balance on record
Eugene Sheehy	Apr 26, 2010	1,153 shares, last reported balance as of Apr 20, 2010
Mark Yonkman	Apr 29, 2009	1,292 shares, last reported balance as of Apr 3, 2009
Richard Garman	Apr 28, 2009	258,914 shares, last reported balance as of Apr 21, 2009
Arthur Levitt Jr.	Apr 28, 2009	39,975 shares, last reported balance as of Apr 21, 2009
Heath McLendon	Apr 28, 2009	31,290 shares, last reported balance as of Apr 21, 2009
Reginald Newman II	Apr 28, 2009	12,528 shares, last reported balance as of Apr 21, 2009
Daniel Hawbaker	Apr 28, 2009	6,604 shares, last reported balance as of Apr 21, 2009
Stephen Sheetz	Apr 28, 2009	34,167 shares, last reported balance as of Apr 21, 2009
Richard Garman	Apr 28, 2009	27,254 shares, last reported balance as of Apr 21, 2009
Adam Kugler	Jul 9, 2008	40,095 shares, last reported balance as of Jun 30, 2008
Gregory Ford	Feb 2, 2007	7,152 shares, last reported balance as of Jan 31, 2007
Emerson Brumback	Jul 13, 2006	21,384 shares, last reported balance as of Jun 30, 2006
William Allyn	Apr 28, 2006	13,350 shares, last reported balance as of Apr 3, 2006
Patrick Callan	Apr 28, 2006	62,592 shares, last reported balance as of Apr 3, 2006
Carlos Carballada	Apr 28, 2006	10,566 shares, last reported balance as of Apr 3, 2006
Derek Hathaway	Apr 28, 2006	2,311 shares, last reported balance as of Jan 3, 2006
Colm Doherty	Sep 30, 2005	No balance on record
James Glynn	Apr 5, 2005	13,261 shares, last reported balance as of Apr 1, 2005
Donald Devorris	Apr 5, 2005	3,250 shares, last reported balance as of Apr 1, 2005
Michael Piemonte	Jan 20, 2005	530 shares, last reported balance as of Jan 18, 2005
John Zachau Jr.	Jan 20, 2005	38,601 shares, last reported balance as of Jan 19, 2005
Steven Coen	Jan 13, 2005	110 shares, last reported balance as of Jan 3, 2005
John Pett	Jan 29, 2004	166,238 shares, last reported balance as of Jan 28, 2004
John Benisch		No balance on record
Carl Campbell		No balance on record
John Vensel		No balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

M&T Bank insiders sold $26.4M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Outside holders, reported separately

Common questions

Is the M&T Bank CEO selling stock?

Why are M&T Bank insiders selling?

Are any M&T Bank insiders buying?

The evidence

No plan disclosed · $15.3M

Taxes

Sales by month