Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 94

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 94
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 is currently listed on the Nasdaq Global Select Market under
the symbol “NWBI.” The shares to be issued to Penns Woods shareholders as Merger Consideration also will be eligible for trading on the Nasdaq Global Select Market. Northwest shall
cause the shares of Northwest common stock to be issued in the Merger to be approved for listing as of the Effective Time.

Treatment of Certain Subsidiaries and Investments

Prior to the Effective Date, Penns Woods shall, after consultation with Northwest, commence winding down the activities and distribution of
underlying assets to Penns Woods, or otherwise dissolve, Woods Investment Company, Inc., Woods Real Estate Development Company, Inc. and United Insurance Solutions, LLC. Penns Woods shall take, and shall cause Jersey Shore Bank to take, or cause to
be taken, all such actions necessary to ensure that these wind downs and distributions, or other dissolutions, comply with applicable laws, Penns Woods will keep Northwest apprised of the status. The form of any and all documentation related to the
wind downs and distributions or other dissolutions will be subject to the prior approval of Northwest. Additionally, Penns Woods, or Jersey Short Bank, as applicable, will use reasonable best efforts to assist Northwest with the transition of The M
Group, Inc.’s securities, advisory and other service offerings to Northwest’s service partner, LPL Financial.

66

Conditions to Consummation of the Merger Conditions to Each Party’s Obligation to Effect the Merger. The respective obligations of Northwest and Penns Woods to complete the Merger are subject to the fulfillment or written waiver of each of the following conditions:

| • |     | the Merger Agreement and the Merger must be duly adopted and approved by the requisite vote of the shareholders 
 of Penns Woods;                                                                                                 |

| • |     | all regulatory approvals required to consummate the Merger and the transactions contemplated thereby must have                                                                                                                                          
 been obtained and shall remain in full force and effect and all statutory waiting periods in respect thereof shall have expired and no such approvals shall contain (i) any conditions, restrictions or requirements which the Northwest board of       
 directors reasonably determines would, either before or after the Effective Time, have a material adverse effect on Northwest and its subsidiaries taken as a whole after giving effect to the consummation of the Merger, or (ii) any conditions,      
 restrictions or requirements that are not customary and usual for approvals of such type and which the Northwest board of directors reasonably determines would, either before or after