Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 368

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 368
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0 to 2034 are $70.2 million. The expected benefits to be paid are based on the same assumptions used to measure our benefit obligations at December 31, 2024 and include estimated future employee service.(b)                                 Stock-based CompensationStock-based awards are eligible for issuance under the our Incentive Compensation Plans to executives, directors and key employees of the Northwest Bancshares and its subsidiaries. On May 18, 2022, shareholders approved the Northwest Bancshares, Inc. 2022 Equity Incentive Plan with up to 3,500,000 shares authorized for award. This plan provides for the granting of stock options, restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance awards. At December 31,2024 1,079,102 shares were available for future grants.We issue shares to fulfill stock-based award vesting from available authorized common shares. At December 31,2024, we believe there are adequate authorized common shares to satisfy anticipated stock-based vesting for all grants outstanding.Stock-based compensation expense was $6 million, $4 million and $3 million and was included in compensation and employee benefits expense on the Consolidated Statements of Income during the years ended December 31, 2024, 2023 and 2022, respectively. The effect on net income for the years ended December 31, 2024, 2023 and 2022 was a reduction of $4 million, $3 million and $2 million, respectively. Restricted Stock Awards, Restricted Stock Units and Performance Share UnitsRestricted stock awards, Restricted Stock Units and Performance Share Units (“PSUs”) are all issued subject to service restrictions. PSUs are payable contingent on the achievement of certain predefined performance objectives over a three-year measurement period with the actual number of shares issuable ranging between 0% and 150% of the number of PSUs granted. RSAs accumulate dividends that are paid upon vesting.

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Table of ContentsNORTHWEST BANCSHARES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

During the years ended December 31, 2022, December 31, 2023 and December 31, 2024, we granted the following awards (amounts in this table are not in thousands):Year-endedGrant dateAward toSharesGrant typeWeighted average grant date