Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 119

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 119
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 stock-based compensation plan activity for the year ended December 31, 2024:Non-Vested Restricted Stock Awards OutstandingStock Options OutstandingTime-BasedPerformance-BasedNumber ofSharesWeighted-AverageGrant DateFair ValueNumber ofSharesWeighted-AverageGrant DateFair ValueNumber ofSharesWeighted-AverageExercise PriceBalance, beginning of period1,599,419 $52.72 520,003 $52.58 10,972 $29.14 Granted 1,207,058 47.36 150,173 48.67 — — Vested(886,923)53.81 (50,926)53.79 — — Forfeited(127,923)49.54 (10,610)56.05 — — Exercised— — — — (8,858)28.57 Balance, end of period1,791,631 49.26 608,640 53.00 2,114 31.51 Restricted Stock AwardsTime-based restricted stock awards vest over the applicable service period primarily ranging from one to three years. Under the plan, the number of time-based restricted stock awards that may be granted to an eligible individual per calendar year is limited to 300,000 shares. The fair value of time-based restricted stock awards used to determine compensation expense is measured using the closing price of Webster common stock at the grant date.Performance-based restricted stock awards generally vest after a three year performance period, with the total share quantity dependent on the Company meeting certain target performance conditions ranging from 0% to 150%. Under the plan, 50% of the share quantity is determined based on three-year total stockholder return as compared to the Company’s compensation peer group, while the other 50% is based on the Company’s average return on equity over the three-year period. The fair value of performance-based restricted stock awards used to determine compensation expense is calculated using the Monte-Carlo simulation model for total stockholder return awards and the closing price of Webster common stock at the grant date for average return on equity awards. Compensation expense for average return on equity awards is subject to adjustment based on the Company’s average return on equity performance relative to the target number of shares condition.The Company recognized restricted stock compensation expense of $55.1 million, $54.5 million, and $55.1 million, during the years ended December 31, 2024,