Michael Zaitzeff - Jan 30, 2022 Form 4 Insider Report for BERKSHIRE HILLS BANCORP INC (BHLB)

Role
Director
Signature
/s/ Michael Zaitzeff
Stock symbol
BHLB
Transactions as of
Jan 30, 2022
Transactions value $
$0
Form type
4
Date filed
2/1/2022, 01:55 PM
Previous filing
Jul 6, 2021
Next filing
Mar 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BHLB Common Stock Award $0 +2.25K $0.00 2.25K Jan 30, 2022 By Stock Award II F1, F2, F4
holding BHLB Common Stock 1.05K Jan 30, 2022 By Stock Award I F1, F2, F3, F5
holding BHLB Common Stock 1.67M Jan 30, 2022 By HoldCo Opportunities Fund III, L.P. F1, F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Securities of the Issuer beneficially owned directly by HoldCo Opportunities Fund III, L.P. ("HoldCo Fund"). VM GP VII LLC ("VM GP VII"), as the general partner of HoldCo Fund, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund. HoldCo Asset Management, LP ("HoldCo Asset Management"), as the investment manager of HoldCo Fund, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund. VM GP II LLC ("VM GP II"), as the general partner of HoldCo Asset Management, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund. The Reporting Person, as a managing member of each of VM GP II and VM GP VII, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by HoldCo Fund.
F2 The Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F3 Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2018 Equity Compensation Plan vest in three equal annual installments beginning on January 30, 2022. HoldCo Fund (as defined above) receives the economic benefit, if any, of this Stock Award.
F4 Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2018 Equity Compensation Plan vest 100% on January 30, 2023. HoldCo Fund (as defined above) receives the economic benefit, if any, of this Stock Award.
F5 Since the reporting person's last report, 523 shares previously held through Stock Award I have vested and are now owned indirectly.