P. Sean Burke - 06 Apr 2022 Form 4 Insider Report for Investors Bancorp, Inc. (ISBC)

Role: EVP and CFO
Signature: /s/ Brian Doran, pursuant to power of attorney
Issuer symbol: ISBC
Transactions as of: 06 Apr 2022
Net transactions value: -$413,561
Form type: 4
Filing time: 07 Apr 2022, 18:23:59 UTC
Previous filing: 07 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ISBC	Common Stock	Tax liability	$413,561	-27,700	-16%	$14.93	141,130	06 Apr 2022	Direct
transaction	ISBC	Common Stock	Other		-141,130	-100%		0	06 Apr 2022	Direct	F1
transaction	ISBC	Common Stock	Other		-7,279	-100%		0	06 Apr 2022	By ESOP	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ISBC	Stock Options	Other		-325,720	-100%		0	06 Apr 2022	Common Stock	325,720	$12.54	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of common stock was converted into and became exchangeable for the right to receive (i) $1.46 in cash and (ii) 0.297 of a share of Citizens Financial Group. Inc. common stock.
F2	Each option was converted into an option to purchase a number of shares of Citizens Financial Group Inc.'s common stock (rounded down to the nearest whole share) determined by multiplying (i) the number of shares of Investors Bancorp Inc. common stock subject to such stock option by (ii) 0.3272, at a per share exercise price (rounded up to the nearest whole cent) equal to the quotient obtained by dividing (a) the per share exercise price for each share of Investors Bancorp, Inc. common stock subject to such option by (b) 0.0302.

Content

Each share of common stock was converted into and became exchangeable for the right to receive (i) $1.46 in cash and (ii) 0.297 of a share of Citizens Financial Group. Inc. common stock.

Each option was converted into an option to purchase a number of shares of Citizens Financial Group Inc.'s common stock (rounded down to the nearest whole share) determined by multiplying (i) the number of shares of Investors Bancorp Inc. common stock subject to such stock option by (ii) 0.3272, at a per share exercise price (rounded up to the nearest whole cent) equal to the quotient obtained by dividing (a) the per share exercise price for each share of Investors Bancorp, Inc. common stock subject to such option by (b) 0.0302.