Company: NWBI
Filing Date: 2025-02-20
Form Type: S-4/A
Source: 0001193125-25-030716
Chunk: 9

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-20
Form: S-4/A
Chunk 9
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 with the Merger. Instead, each holder of Penns Woods common stock who would otherwise be entitled to receive a fraction of a share of Northwest common stock (after taking into account all shares of Penns Woods common stock owned by such holder at the Effective Time) will receive cash (rounded to the nearest cent), without interest, in an amount equal to the fractional share of Northwest common stock to which such holder would otherwise be entitled multiplied by the average of the closing-sale prices of Northwest common stock on the Nasdaq Global Select Market ®as reported by The Wall Street Journal for the five (5) consecutive full trading days ending on the trading day preceding the Effective Date.

| Q: | Does Penns Woods anticipate paying any dividends prior to the Effective Date? |

| A: | Yes. Under the terms of the Merger Agreement, Penns Woods is permitted to pay to its shareholders its normal                                                                                                                                              
 and customary quarterly cash dividend of no greater than $0.32 per share for each full calendar quarter preceding the Effective Date, subject to coordinating with Northwest regarding issuance of any dividend in the quarter in which the Merger closes 
 to ensure holders of Penns Woods common stock do not receive two dividends, or fail to receive one dividend, in the relevant quarter as a result of the Merger.                                                                                           |

| Q: | What are the expected material U.S. Federal Income Tax consequences of the Merger? |

| A: | The Merger is intended to qualify as a “reorganization” within the meaning of Section 368(a) of                                                                                                                                                           
 the Code, and each of Northwest and Penns Woods have received a legal opinion to that effect. Accordingly, we expect the Merger, generally, to be tax-free to United States resident Penns Woods common                                                   
 stockholders for United States federal income tax purposes with respect to the shares of Northwest common stock that they receive pursuant to the Merger. However, neither Northwest nor Penns Woods has requested or received a ruling from the Internal 
 Revenue Service that the Merger will qualify as a reorganization or as to any other aspect of the Merger Agreement or the transactions contemplated by it. For further information, please refer to “Material U.S. Federal Income Tax                     
 Consequences of the Merger” beginning on page 57.                                                                                                                                                                                                         |

2

THE TAX CONSEQUENCES OF THE MERGER WILL DEPEND ON THE FACTS OF YOUR OWN SITUATION. YOU SHOULD CONSULT YOUR OWN TAX ADVISOR AS TO THE SPECIFIC TAX CONSEQUENCES OF THE