Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* WALTERS KIRK W	2. Issuer Name and Ticker or Trading Symbol People's United Financial, Inc. [ PBCT ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Sr Executive Vice President
(Last) (First) (Middle) PEOPLES UNITED BANK, 850 MAIN STREET	3. Date of Earliest Transaction (MM/DD/YYYY) 1/7/2021
(Street) BRIDGEPORT, CT 06604 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	1/7/2021		M		25000.00	A	$12.30	52525.00	D
Common Stock	1/7/2021		S⁽¹⁾		25000.00	D	$14.32 ⁽²⁾	27525.00 ⁽³⁾	D
Common Stock								28841.00	I	Lacey & Sadie, LLC
Common Stock								263542.00	I	Gus & Bonnie, LLC
Series A Nonconvertible Perpetual Preferred Stock								40000.00	I	Gus & Bonnie, LLC

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Option to Buy	$12.30	1/7/2021		M			25000.00	⁽⁴⁾	3/17/2021	Common Stock	25000.00	$0.00	25000.00	D

Explanation of Responses:
(1)	The transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 3, 2020.
(2)	This transaction was executed in multiple trades at prices ranging from $14.30 to $14.38. The reported price reflects the weighted average sale price plus $0.03. The reporting person hereby undertakes to provide upon request by the SEC staff, People's United Financial, Inc. or a shareholder of People's United Financial, Inc. full information regarding the number of shares and prices at which the transaction was effected.
(3)	Includes 8,852 shares owned indirectly through the People's United Bank 401(k) Plan (including 119 shares acquired through dividend reinvestment) and 3,377 shares owned indirectly through the People's United Financial, Inc. Employee Stock Ownership Plan (including 45 shares acquired through dividend reinvestment). Information is based on 12/31/20 Plan statements.
(4)	Exercisable in annual increments on 3/1/13 (33 1/3%); 3/1/14 (33 1/3%); and 3/1/15 (33 1/3%).

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
WALTERS KIRK W PEOPLES UNITED BANK 850 MAIN STREET BRIDGEPORT, CT 06604	X		Sr Executive Vice President