Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 28

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 28
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 of Webster participate in an orientation program, which is designed to familiarize them with Webster’s business and operations and with their duties as directors under applicable laws and regulations. Each member of the Board also serves as a director of Webster Bank.

Board Leadership Structure and Function

CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER AND LEAD INDEPENDENT DIRECTOR ROLES

The Board determined that having Mr. Ciulla as Chairman of the Board and Chief Executive Officer and Mr. O’Toole as Lead Independent Director is the best leadership structure for the Company at this time, based on present needs and circumstances. This structure, among other things, allows for Mr. Ciulla to preside at meetings of the Company’s stockholders and the Board and set the overall strategy and tone for the Company and lead its operations and strategic priorities. Mr. O’Toole provides additional and independent leadership for the Board, including presiding over executive sessions of independent directors and other clearly defined duties and responsibilities. Mr. O’Toole is a seasoned leader who possesses the characteristics and qualities critical for a Lead Independent Director.

Our Lead Independent Director is appointed in accordance with Webster’s Corporate Governance Policy, which provides that the Board will appoint an independent director to serve as the Lead Independent Director for a one-year term, or until a successor is appointed. The Lead Independent Director presides over the executive sessions of the independent directors and assists and advises the Chairman of the Board and has other robust and well-defined duties as described below.

| The responsibilities of ourLead Independent Directorinclude the following: |     |                                                                                                                                                                                     |     |   |     |                                                                                                                                                                              |
| ü                                                                          |     | Preside over all meetings of the Board at which the Chairman of the Board and Chief Executive Officer is not present, including all executive sessions of the independent directors |     | ü |     | Contribute to the annual  performance review of the Chairman of the Board and Chief Executive Officer and participate in succession planning for the Chief Executive Officer |
| ü                                                                          |     | Call meetings of the independent directors, as appropriate, and develop topics of discussion for executive sessions of the Board                                                    |     | ü |     | Review and approve Board meeting schedules information to ensure sufficient time for discussion for all agenda items                                                         |
| ü                                                                          |     | Provide leadership whenever the Chairman of the Board and Chief Executive Officer’s role may be perceived to be in conflict                                                         |     | ü |     | Advise the Chairman of the Board and Chief Executive Officer of the information needs