Company: NWBI
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049104
Chunk: 80

Company: Northwest Bancshares, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 80
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. All unvested awards will expire upon voluntary or involuntary termination before age 72. Dividends on the restricted shares granted under the 2022 Equity Incentive Plan are declared but not paid until thirty days after the vesting date but participants can vote the unvested restricted shares. Dividends on restricted shares under the 2018 Equity Incentive Plan are paid on the unvested restricted stock and participants can vote the unvested restricted stock pursuant to the plans. Transactions With Certain Related Persons Federal law requires that all loans or extensions of credit to executive officers and directors and any of their related interests must be made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with the general public and must not involve more than the normal risk of repayment or present other unfavorable features to Northwest Bank. Federal regulations adopted under this law permit executive officers and directors and any of their related interests to receive the same terms that are widely available to other employees as long as the executive officer or director or any of their related interests is not given preferential treatment compared to the other participating employees. Northwest Bank offers its employees interest rate discounts of generally up to 50 basis points off the market rates on loans made by Northwest Bank to such persons for personal use. In accordance with our Regulation O policy and as required by federal regulations, extensions of credit to any executive officer or director or any of their related interest must be approved in advance by a majority vote of the Board of Directors if the aggregate of all extensions of credit to that executive officer or director or any of their related interests exceeds $500,000 or 5% of Northwest Bank’s unimpaired capital and surplus, whichever is less. Also, all extensions of credit made to executive officers, directors and any of their related interests are promptly reported to the Board of Directors or a committee thereof. Except for the interest rate discount described above, loans to our current directors, executive officers, nominees for election as directors, security holders known by us to own more than 5% of the outstanding shares of common stock, or immediate family members of such persons, are made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with persons not related to Northwest Bank, and do not involve more than the normal risk of collectability or present other unfavorable features. The following table sets forth loans made by Northwest Bank to its executive officers, directors and immediate family members of such persons