Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 30

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 30
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 Education Policy, which outlines Webster’s formal and ongoing director education program to provide opportunities for our directors to participate in continuing education activities and receive educational materials on a wide variety of topics including emerging risks and their potential impact on Webster, current developments in the industry and the laws, regulations, and supervisory requirements applicable to Webster, corporate governance, sustainability, the financial services industry, cybersecurity, technology, Bank Secrecy Act / anti-money laundering, executive compensation, risk management, finance, and accounting. In 2024, our director education program included sessions on preparation for compliance with the requirements of a Category IV Bank, presentations on artificial intelligence and technology developments in the financial services industry, cybersecurity and regulatory and economic environment updates. These educational opportunities provide our directors with timely updates on industry changes and best practices among our peers and in the general marketplace and further supplement our directors’ significant business and leadership experiences. The Nominating and Corporate Governance Committee reviews and approves Webster’s Board of Directors Education Policy annually and oversees the effective implementation of our formal and ongoing director education program.

DIRECTOR OVERBOARDING POLICY AND COMMITMENTS OVERSIGHT

Webster values the experience that its directors gain through service on other boards but remains mindful that service on other boards may present conflicts of interest and may require significant time commitments. As a result, no director may accept or stand for election for any such position without prior approval from the Nominating and Corporate Governance Committee. The Nominating and Corporate Governance Committee will consider recommendations from our General Counsel and annually reviews and approves any director who holds or assumes any board position with any nonaffiliated public company or subsidiary thereof. Changes to existing approved outside responsibilities are reported to the Nominating and Corporate Governance Committee, who then determines the impact of the changes at the next possible meeting and recommends any actions to the Board, if and when warranted.

Webster also limits the number of other public company boards our directors may join to ensure that a director is not “overboarded” and is able to devote the appropriate amount of time and attention to the oversight of the Company, including attendance at Board and Committee meetings. Our Corporate Governance Policy provides that no director may serve on the board of more than four public companies (including Webster and its subsidiaries).

RISK OVERSIGHT

The Board administers its risk oversight function primarily through the Risk Committee of the Board, which is described in more detail below under the heading “Committees of the Board—Risk Committee.” Webster also has a Chief Risk Officer, Daniel Bley, and a Chief Credit