AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 25, 2000
REGISTRATION NO. 333-33228
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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Post-Effective
Amendment No. 1
To Form S-4 on
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
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WEBSTER FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of
incorporation or organization)
06-1187536
(IRS employer identification number)
Webster Plaza
Waterbury, Connecticut 06702
(203) 753-2921
(Address, including zip code, and telephone number,
including area code, of registrant's principal
executive offices)
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MECHANICS SAVINGS BANK 1996 OFFICER STOCK OPTION PLAN
MECHANICS SAVINGS BANK 1996 DIRECTOR STOCK OPTION PLAN
(Full title of the Plan)
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Peter J. Swiatek
Controller
Webster Financial Corporation
Webster Plaza
Waterbury, Connecticut 06702
(203) 578-2259
(Name, address and telephone number of agent for service)
Copy to:
Stuart G. Stein, Esq.
Steven E. Ballew, Esq.
Hogan & Hartson L.L.P.
555 Thirteenth Street, N.W.
Washington, D.C. 20004-1109
(202) 637-8575
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COMMON STOCK TO BE REMOVED FROM REGISTRATION
Webster Financial Corporation ("Webster") filed a Registration
Statement on Form S-4 (File No. 333-33228) with the Securities and Exchange
Commission (the "SEC") on March 24, 2000, pursuant to which it registered the
offer and sale of up to 8,327,736 shares of common stock, par value $.01 per
share, of Webster common stock in connection with its proposed acquisition of
MECH Financial, Inc. ("MECH"). The closing of the MECH acquisition occurred on
June 23, 2000, and in connection therewith 7,810,958 shares of Webster common
stock have been issued. Pursuant to this Post-Effective Amendment, Webster
reserves 399,249 previously registered shares for issuance under the Mechanics
Savings Bank 1996 Officer Stock Option Plan and the Mechanics Savings Bank 1996
Director Stock Option Plan, which have become option plans of Webster as part of
the acquisition of MECH.
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
The documents containing the information specified in Part I
will be sent or given to employees as specified by Rule 428(b)(1) of the
Securities Act of 1933, as amended (the "Securities Act"). In accordance with
the instructions to Part I of Form S-8, such documents will not be filed with
the SEC either as part of this Registration Statement or as prospectuses or
prospectus supplements pursuant to Rule 424 of the Securities Act. These
documents and the documents incorporated by reference pursuant to Item 3 of Part
II of this registration statement, taken together, constitute the prospectus as
required by Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
Webster hereby incorporates by reference into this registration
statement the following documents filed by it with the SEC:
(a) Webster's annual report on Form 10-K for the twelve
months ended December 31, 1999 and Webster's
quarterly report on Form 10-Q for the three-month
period ended March 31, 2000.
(b) Webster's current reports on Form 8-K filed February
9 and June 26, 2000.
(c) The description of Webster common stock, par value
$0.01 per share ("Common Stock"), contained in
Webster's registration statement on Form 8-A filed
with the SEC on December 2, 1986, as amended by
Webster's current reports on Form 8-K filed February
12 and November 25, 1996 and October 30, 1998.
In addition, all documents and reports filed by Webster
subsequent to the date hereof pursuant to Sections 13(a), 13(c), 14, and 15(d)
of the Securities Exchange Act of 1934, as amended (the "Exchange Act") prior to
the filing of a post-effective amendment which indicates that all securities
offered have been sold or which deregisters all securities remaining unsold,
shall be deemed to be incorporated by reference in this registration statement
and to be part hereof from the
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date of filing of such documents or reports. Any statement contained in a
document incorporated or deemed to be incorporated by reference herein shall be
deemed to be modified or superseded for purposes of this registration statement
to the extent that a statement contained herein or in any other subsequently
filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this registration statement.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Reference is made to the provisions of Article 6 of Webster's restated
certificate of incorporation, as amended, and the provisions of Article IX of
Webster's Bylaws, as amended.
Webster is a Delaware corporation subject to the applicable
indemnification provisions of the General Corporation Law of the State of
Delaware (the "Delaware Corporation Law"). Section 145 of the Delaware
Corporation Law provides for the indemnification, under certain circumstances,
of persons who are or were directors, officers, employees or agents of Webster,
or are or were serving at the request of Webster in such a capacity with another
business organization or entity, against expenses, judgments, fines and amounts
paid in settlement in actions, suits or proceedings, whether civil, criminal,
administrative, or investigative, brought or threatened against or involving
such persons because of such person's service in any such capacity. In the case
of actions brought by or in the right of Webster, Section 145 provides for
indemnification only of expenses, and only upon a determination by the Court of
Chancery or the court in which such action or suit was brought that, in view of
all the circumstances of the case, such person is fairly and reasonably entitled
to indemnity for such expenses.
Article 6 of Webster's restated certificate of incorporation
provides that no director will be personally liable to Webster or its
stockholders for monetary damages for breach of fiduciary duty as a director
other than liability
o for any breach of such director's duty of loyalty to Webster
or its shareholders, for acts or omissions not in good faith
or which involve intentional misconduct or a knowing violation
of law,
o for any payment of a dividend or approval of a stock
repurchase that is illegal under Section 174 of the Delaware
Corporation Law, or
o for any transaction from which the director derived an
improper personal benefit.
The foregoing indemnity and insurance provisions have the
effect of reducing directors' and officers' exposure to personal liability for
actions taken in connection with their respective positions.
Webster's Bylaws provide for indemnification of directors,
officers, trustees, employees and agents of Webster, and for those serving in
such roles with other business organizations or entities, in the event that such
person was or is made a party to (or is threatened to
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be made a party to) any civil, criminal, administrative, arbitration or
investigative action, suit, or proceeding (other than an action by or in the
right of Webster) by reason of the fact that such person is or was serving in
such a capacity for or on behalf of Webster. Webster will indemnify any such
person against expenses (including attorneys' fees), judgments, fines, penalties
and amounts paid in settlement if such person acted in good faith and in a
manner such person reasonably believed to be in or not opposed to the best
interests of Webster, and, with respect to any criminal action or proceeding,
had no reasonable cause to believe his conduct was unlawful. Similarly, Webster
will indemnify such persons for expenses reasonably incurred and settlements
reasonably paid in actions, suits, or proceedings brought by or in the right of
Webster, if such person acted in good faith and in a manner such person
reasonably believed to be in or not opposed to the best interests of Webster;
provided, however, that no indemnification will be made against expenses in
respect of any claim, issue, or matter as to which such person is adjudged to be
liable to Webster or against amounts paid in settlement unless and only to the
extent that there is a determination made by the appropriate party set forth in
the Bylaws that the person to be indemnified is, in view of all the
circumstances of the case, fairly and reasonably entitled to indemnity for such
expenses or amounts paid in settlement. In addition, Webster may purchase and
maintain insurance on behalf of any person who is or was a director, officer,
trustee, employee, or agent of Webster or is acting in such capacity for another
business organization or entity at Webster's request, against any liability
asserted against such person and incurred in such capacity, or arising out of
such person's status as such, whether or not Webster would have the power or
obligation to indemnify him against such liability under the provisions of
Article IX of Webster's Bylaws.
Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of Webster pursuant to the foregoing provisions, or otherwise, Webster has been
advised that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than
the payment by Webster of expenses incurred or paid by a director, officer or
controlling person of Webster in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, Webster will, unless in the
opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
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<CAPTION>
EXHIBIT
NO. EXHIBIT
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3 Bylaws, as amemded on May 22, 2000.
4.1 Specimen common stock certificate (incorporated by reference to
Exhibit 4.1 to Webster's registration statement on Form S-3
(File No. 333-81563) filed with the SEC on June 25, 1999.)
4.2 Rights Agreement, dated as of February 5, 1996, between Webster
and Chemical Mellon Shareholder Services, L.L.C. (incorporated
by reference to Exhibit 1 to Webster's current report on Form
8-K as filed with the SEC on February 12, 1996.)
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EXHIBIT
NO. EXHIBIT
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<S> <C>
4.3 Amendment No. 1 to Rights Agreement, entered into as of November
4, 1996, by and between Webster and ChaseMellon Shareholder
Services, L.L.C. (incorporated by reference to Webster's current
report on Form 8-K as filed with the SEC on November 25, 1996.)
4.4 Amendment No. 2 to Rights Agreement, entered into as of October
30, 1998, between Webster and American Stock Transfer & Trust
Company (incorporated by reference to Exhibit 1 to Webster's
current report on Form 8-K as filed with the SEC on October 30,
1998.)
5 Opinion of Hogan & Hartson, L.L.P., as to the validity of the
securities registered hereunder, including the consent of Hogan
& Harston, L.L.P.
23.1 Consent of KPMG LLP
23.2 Consent of Hogan & Hartson, L.L.P. (included in the opinion
filed as Exhibit 5 hereto)
24 Power of Attorney (previously filed as Exhibit 24 of Webster's
registration statement on Form S-4 (File No. 333-33228) as filed
with the SEC on March 24, 2000.)
99.1 Section 145 of the Delaware General Corporation Law.
(incorporated by reference to Exhibit 99.4 of Webster's
registration statement on Form S-4 (File No. 333-46073) as filed
with the SEC on February 11, 1998.)
99.2 Mechanics Savings Bank 1996 Officer Stock Option Plan
(incorporated by reference to Exhibit 10.1 of MECH Financial,
Inc.'s annual report on Form 10-K filed with the SEC on March
30, 1998.)
99.3 Amendment No. 1 to Mechanics Savings Bank 1996 Officer Stock
Option Plan (incorporated by reference to Exhibit 4.1(b) of MECH
Financial, Inc.'s registration statement on Form S-8 as filed
with the SEC on April 2, 1998.)
99.4 Mechanics Savings Bank 1996 Director Stock Option Plan
(incorporated by reference to Exhibit 10.2 of MECH Financial,
Inc.'s annual report on Form 10-K filed with the SEC on March
30, 1998.)
99.5 Amendment No. 1 to Mechanics Savings Bank 1996 Director Stock
Option Plan (incorporated by reference to Exhibit 4.2(b) of MECH
Financial, Inc.'s registration statement on Form S-8 as filed
with the SEC on April 2, 1998.)
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ITEM 9. UNDERTAKINGS.
(a) The undersigned Registrant hereby undertakes:
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(1) To file, during any period in which offers or sales are
being made, a post-effective amendment to this registration
statement:
(i) To include any prospectus required by Section 10(a)(3) of
the Securities Act;
(ii) To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information
set forth in the registration statement;
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the registration
statement or any material change to such information in the
registration statement.
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do
not apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the SEC by the
Registrant pursuant to Section 13 or Section 15(d) of the Exchange
Act that are incorporated by reference in the registration
statement.
(2) That, for the purpose of determining any liability under
the Securities Act, each such post-effective amendment shall be
deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain
unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act (and, where applicable, each filing of an employee benefit plan's
annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(c) Insofar as indemnification for liability arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant or expenses incurred or
paid by a director, officer or controlling person in successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question of whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the city of Waterbury, state of Connecticut on July 25, 2000.
WEBSTER FINANCIAL CORPORATION
By: /s/ James C. Smith
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James C. Smith
Chairman and
Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated on the 25th day of July, 2000.
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SIGNATURE TITLE
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<S> <C>
/s/ James C. Smith Chairman and Chief Executive Officer,
----------------------------------------- Principal Executive Officer
James C. Smith
/s/ Peter J. Swiatek Controller
-----------------------------------------
Peter J. Swiatek
/s/ Richard H. Alden* Director
-----------------------------------------
Richard H. Alden
/s/ Achille A. Apicella* Director
-----------------------------------------
Achille A. Apicella
/s/ Joel S. Becker* Director
-----------------------------------------
Joel S. Becker
/s/ O. Joseph Bizzozero, Jr.* Director
-----------------------------------------
O. Joseph Bizzozero, Jr.
/s/ George T. Carpenter* Director
-----------------------------------------
George T. Carpenter
/s/ John J. Crawford* Director
----------------------------------------
John J. Crawford
/s/ Harry P. DiAdamo, Jr.* Director
----------------------------------------
Harry P. DiAdamo, Jr.
/s/ Robert A. Finkenzeller* Director
---------------------------------------
Robert A. Finkenzeller
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<S> <C>
-------------------------------------- Director
Edgar C. Gerwig
/s/ P. Anthony Girogio* Director
-------------------------------------
P. Anthony Giorgio
/s/ J. Gregory Hickey* Director
------------------------------------
J. Gregory Hickey
/s/ C. Michael Jacobi* Director
------------------------------------
C. Michael Jacobi
/s/ John F. McCarthy* Director
------------------------------------
John F. McCarthy
------------------------------------- Director
Michael G. Morris
/s/ Sister Marguerite Waite* Director
-------------------------------------
Sister Marguerite Waite
By: /s/ James C. Smith
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*By Power of Attorney
James C. Smith
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EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NO. EXHIBIT
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<S> <C>
3 Bylaws, as amemded on May 22, 2000.
4.1 Specimen common stock certificate (incorporated by reference to
Exhibit 4.1 to Webster's registration statement on Form S-3
(File No. 333-81563) filed with the SEC on June 25, 1999.)
4.2 Rights Agreement, dated as of February 5, 1996, between Webster
and Chemical Mellon Shareholder Services, L.L.C. (incorporated
by reference to Exhibit 1 to Webster's current report on Form
8-K as filed with the SEC on February 12, 1996.)
4.3 Amendment No. 1 to Rights Agreement, entered into as of November
4, 1996, by and between Webster and ChaseMellon Shareholder
Services, L.L.C. (incorporated by reference to Webster's current
report on Form 8-K as filed with the SEC on November 25, 1996.)
4.4 Amendment No. 2 to Rights Agreement, entered into as of October
30, 1998, between Webster and American Stock Transfer & Trust
Company (incorporated by reference to Exhibit 1 to Webster's
current report on Form 8-K as filed with the SEC on October 30,
1998.)
5 Opinion of Hogan & Hartson, L.L.P., as to the validity of the
securities registered hereunder, including the consent of Hogan
& Harston, L.L.P.
23.1 Consent of KPMG LLP
23.2 Consent of Hogan & Hartson, L.L.P. (included in the opinion
filed as Exhibit 5 hereto)
24 Power of Attorney (previously filed as Exhibit 24 of Webster's
registration statement on Form S-4 (File No. 333-33228) as filed
with the SEC on March 24, 2000.)
99.1 Section 145 of the Delaware General Corporation Law.
(incorporated by reference to Exhibit 99.4 of Webster's
registration statement on Form S-4 (File No. 333-46073) as filed
with the SEC on February 11, 1998.)
99.2 Mechanics Savings Bank 1996 Officer Stock Option Plan
(incorporated by reference to Exhibit 10.1 of MECH Financial,
Inc.'s annual report on Form 10-K filed with the SEC on March
30, 1998.)
99.3 Amendment No. 1 to Mechanics Savings Bank 1996 Officer Stock
Option Plan (incorporated by reference to Exhibit 4.1(b) of MECH
Financial, Inc.'s registration statement on Form S-8 as filed
with the SEC on April 2, 1998.)
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<CAPTION>
Exhibit
No. Exhibit
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<S> <C>
99.4 Mechanics Savings Bank 1996 Director Stock Option Plan
(incorporated by reference to Exhibit 10.2 of MECH Financial,
Inc.'s annual report on Form 10-K filed with the SEC on March
30, 1998.)
99.5 Amendment No. 1 to Mechanics Savings Bank 1996 Director Stock
Option Plan (incorporated by reference to Exhibit 4.2(b) of MECH
Financial, Inc.'s registration statement on Form S-8 as filed
with the SEC on April 2, 1998.)
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