Company: WSBC
Filing Date: 2025-03-03
Form Type: 8-K
Source: 0001193125-25-043531
Chunk: 1

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 8-K
Item: Item 2.01
Chunk 1
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 stock option with an exercise price per share that was in excess of the Average Closing Price was cancelled and extinguished at the Effective Time without any present or future right to receive any portion of the Merger Consideration or any other payment. For purposes hereof, a “ Net Option Share” means, with respect to a Premier Financial stock option, the quotient of (i) the product of (A) the excess, if any, of the Average Closing Price over the exercise price per share of such Premier Financial stock option multiplied by(B) the number of shares of Premier Financial common stock subject to such stock option, divided by(ii) the Average Closing Price.

Immediately prior to the Effective Time, each award in respect of a share of Premier Financial Common Stock subject to time-based vesting or other time-based lapse restriction granted under Premier Financial’s stock compensation and stock based incentive plans, other than stock options described above, that was unvested and outstanding immediately prior to the Effective Time fully vested and was cancelled and converted automatically into the right to receive the Merger Consideration in respect of each share of Premier Financial Common Stock underlying such restricted stock award, less applicable tax withholdings.

Immediately prior to the Effective Time, each performance-based equity award in respect of shares of Premier Financial Common Stock granted under Premier Financial’s stock compensation and stock based incentive plans, other than stock options described above, that was unvested and outstanding at such time fully vested (with any performance-based vesting condition applicable to such performance award deemed to have been met at target or as otherwise provided in the Merger Agreement) and was cancelled and converted automatically into the right to receive the Merger Consideration in respect of each share of Premier Financial Common Stock underlying such performance award, less applicable tax withholdings.

Immediately following the Merger, Premier Financial’s wholly-owned subsidiary, Premier Bank, merged with and into Wesbanco’s wholly-owned subsidiary, Wesbanco Bank (the “ Bank Merger”), with Wesbanco Bank as the surviving bank in the Bank Merger.

The foregoing description of the transactions contemplated by the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, filed as Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Pursuant to the terms of the Merger Agreement, at the