Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 79

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 79
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 Compensation” on page 28.

Richard A. Grafmyre (Chief
Executive Officer of Penns Woods), Brian L. Knepp (President and Chief Financial Officer of Penns Woods), Aron M. Carter (Senior Vice President – Chief Risk Officer of Penns Woods) and Michelle M. Karas (Senior Vice President, Secretary and
Chief Data Officer of Penns Woods) (the named executive officers) each have an employment agreement with Penns Woods and one of the Subsidiary Banks, under which the named executive officer is entitled to severance benefits if such officer’s
employment is terminated without “cause” or if such officer resigns for “good reason,” as those terms are defined in such officer’s employment agreement. The Merger increases the amount of the severance benefits Messrs.
Grafmyre, Knepp, and Carter and Ms. Karas are entitled to receive because it constitutes a “Change in Control” under the

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employment agreements. The obligation of Penns Woods and the Subsidiary Banks to pay the severance benefits is subject to several conditions, including the named executive officer’s execution of a general release of claims. As a result of the foregoing assumptions, the actual amounts, if any, to be received by a named executive officer may materially differ from the amounts set forth below. GOLDEN PARACHUTE COMPENSATION

| Name                |     | Cash (1) 
 ($)      |           |     | Equity(2) 
 ($)       |         |     | Pension/      
 Non-Qualified 
 Deferred      
 Compensation  
 ($)           |   |     | Perquisites/ 
 Benefits (3) 
 ($)          |        |     | Total 
 ($)   |           |
|:--------------------|:----|:---------|----------:|:----|:----------|--------:|:----|:--------------|:--|:----|:-------------|-------:|:----|:------|----------:|
| Richard A. Grafmyre |     | $        | 2,285,612 |     | $         | 599,317 |     |               | — |     | $            | 44,640 |     | $     | 2,929,568 |
| Brian L. Knepp      |     | $        |   663,030 |     | $         | 629,019 |     |               | — |     | $            | 57,752 |     | $