Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 32

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 32
---
 professional ethics, integrity and values, and be committed to representing the long-term interests of the stockholders. Directors should also have an objective perspective and practical wisdom and should be willing and able to devote the required amount of time to Webster’s business. Webster also endeavors to have a Board composed of directors with diverse experience in business and in areas that are relevant to the Company, including depth and breadth of business and civic experience in leadership positions. The Board and the Nominating and Corporate Governance Committee consider a potential director’s ties to Webster’s markets in order to ensure broad representation reflective of the markets served. The Board and the Nominating and Corporate Governance Committee also consider a potential director’s independence from management, skill, knowledge, broad business judgment, relevant specific industry experience, integrity, and reputation. The Board and the Nominating and Corporate Governance Committee each annually review and assess the effectiveness of the Corporate Governance Policy.

When considering director candidates to recommend for nomination or re-election to the Board, the Nominating and Corporate Governance Committee compares the size of the Board to peer bank holding companies and other similarly sized public companies by market capitalization. When seeking candidates for director, the Nominating and Corporate Governance Committee may solicit suggestions from incumbent directors, management or others, and Webster has hired an independent search firm to help identify and evaluate potential director succession candidates. The Nominating and Corporate Governance Committee also regularly discusses the need for director refreshment. The Nominating and Corporate Governance Committee will review the qualifications and experience of each candidate and, if the Nominating and Corporate Governance Committee believes a candidate would be a valuable addition to the Board, it will recommend that candidate’s election to the full Board. The Nominating and Corporate Governance Committee will also review and make recommendations to the Board regarding stockholder recommendations for director candidates.

Majority Voting for Directors

Our Bylaws provide that in uncontested elections, directors will be elected by majority of the votes cast, meaning that the number of shares voted “for” that individual’s election must exceed the number of votes cast “against” that individual’s election.

Any incumbent director who is nominated for election by the Board or a Committee thereof, as a condition to such nomination, must submit a conditional and, in the case of an uncontested election, irrevocable letter of resignation to the Chairman of the Board. If the incumbent director is not elected, the Nominating and Corporate Governance Committee will consider the conditional resignation of such nominee and make a recommendation to the Board on whether to accept or reject the