AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JUNE 30, 2000
Registration No. 333-88021
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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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NEW ENGLAND COMMUNITY BANCORP, INC.,
1997 NON-OFFICER DIRECTOR'S STOCK OPTION PLAN
NEW ENGLAND COMMUNITY BANCORP, INC.,
1996 INCENTIVE AND NONQUALIFIED COMPENSATORY STOCK OPTION PLAN
NEW ENGLAND COMMUNITY BANCORP, INC.,
1990 BANK OF SOUTH WINDSOR NON-QUALIFIED 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. 333-88021) with the Securities and Exchange
Commission (the "SEC") on September 29, 1999, pursuant to which it registered
the offer and sale of up to 8,054,374 shares of common stock, par value $.01 per
share, of Webster common stock in connection with its proposed acquisition of
New England Community Bancorp, Inc. ("NECB"). The closing of the NECB
acquisition occurred on December 1, 1999, and in connection therewith 7,692,460
shares of Webster common stock have been issued. Pursuant to this Post-Effective
Amendment, Webster reserves 85,118 previously registered shares for issuance
under the New England Community Bancorp, Inc., 1997 Non-Officer Director's Stock
Option Plan, the 1996 Incentive and Nonqualified Compensatory Stock Option Plan
and the 1990 Bank of South Windsor Non-Qualified Stock Option Plan.
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 report on Form 8-K filed February
9, 2000.
(c) Webter's current report on Form 8-K filed June 26,
2000
(d) 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
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deemed to be incorporated by reference in this registration statement
and to be part hereof from the 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
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organizations or entities, in the event that such person was or is made a party
to (or is threatened to 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.
Exhibit
No. Exhibit
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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
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. 333-88021) as
filed with the SEC on September 29, 1999.)
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 New England Community Bancorp, Inc., 1997 Non-Officer's
Directors' Stock Option Plan (incorporated by reference to
Exhibit 4.1 of New England Community Bancorp, Inc.'s
registration statement on Form S-8 as filed with the SEC on
October 6, 1998.)
99.3 New England Community Bancorp, Inc., 1996 Incentive and
Non-Qualified Compensatory Stock Option Plan (incorporated by
reference to Exhibit 4.1 of New England Community Bancorp,
Inc.'s registration statement on Form S-8 as filed with the
SEC on May 22, 1997.)
99.4 New England Community Bancorp, Inc., 1990 Bank of South
Windsor Non-Qualified Stock Option Plan (incorporated by
reference to Exhibit 4.1 of New England Community Bancorp,
Inc.'s registration statement on Form S-8 as filed with the
SEC on October 9, 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 June 30, 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 30th day of June, 2000.
SIGNATURE TITLE
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/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
- --------------------------------- Director
Edgar C. Gerwig
- --------------------------------- Director
P. Anthony Giorgio
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/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
Exhibit
No. Exhibit
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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. 333-88021) as
filed with the SEC on September 29, 1999.)
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 New England Community Bancorp, Inc., 1997 Non-Officer's
Directors' Stock Option Plan (incorporated by reference to
Exhibit 4.1 of New England Community Bancorp, Inc.'s
registration statement on Form S-8 as filed with the SEC on
October 6, 1998.)
99.3 New England Community Bancorp, Inc., 1996 Incentive and
Non-Qualified Compensatory Stock Option Plan (incorporated by
reference to Exhibit 4.1 of New England Community Bancorp,
Inc.'s registration statement on Form S-8 as filed with the
SEC on May 22, 1997.)
99.4 New England Community Bancorp, Inc., 1990 Bank of South
Windsor Non-Qualified Stock Option Plan (incorporated by
reference to Exhibit 4.1 of New England Community Bancorp,
Inc.'s registration statement on Form S-8 as filed with the
SEC on October 9, 1998.)
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