Company: NWBI
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049104
Chunk: 56

Company: Northwest Bancshares, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 56
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 of the three-year performance period. See “Compensation Discussion and Analysis—Long-Term Stock-Based Compensation” and “Compensation Discussion and Analysis—A Closer Look at PSUs”. |

| (5) | Represents a one-time RSU grant. These RSUs will vest after the completion of four years of employment and will be accelerated in the event of a termination resulting from Mr. Torchio’s death or disability, or a termination by the Company without cause or by Mr. Torchio for “good reason” that occurs after Mr. Torchio attaining age 65. See “Compensation Discussion and Analysis—2024 Compensation Highlights”. |

| (6) | Represents a one-time, new hire grant of RSUs and PSUs. See “Compensation Discussion and Analysis—2024 Compensation Highlights”. |

| (7) | Represents awards that were forfeited on June 17, 2024 upon Mr. Golding’s termination. |

During the year ended December 31, 2024, RSUs and PSUs were awarded to each NEO under our 2022 Equity Incentive Plan. The RSUs granted are subject to time-based vesting and are listed in the column entitled “All other stock awards: number of shares or units”. Awards listed under “Estimated future payouts under equity incentive plan awards” represent the number of shares of RSUs (the first line for each NEO) and PSUs (the second line for each NEO) that can be earned as described in “Compensation Discussion and Analysis —Long-Term Stock-Based Compensation”. Each award of RSUs vests over three years beginning one year from the date of grant. Vesting is accelerated in the event of involuntary termination following a change in control of Northwest Bank or the Company and in the event of the recipient’s death, disability or normal retirement (generally, the attainment of age 65). For a further discussion of grants made for the year ended December 31, 2024, see “Compensation Discussion and Analysis—Long-Term Stock-Based Compensation”. 27

Outstanding Equity Awards at Fiscal Year End. The following table sets forth information with respect to outstanding equity awards for the NEOs as of December 31, 2024. Market values are calculated using the closing price of our common stock on December 31, 2024.

| Outstanding equity awards at December 31, 2024 |               |               |        |     |               |       |       |     |    |    |   |                       |