Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 123

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 123
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 Merger Agreements in accordance with applicable law, or at such other time as shall be provided by applicable law. The Parent Merger and the
Subsidiary Bank Mergers shall sometimes collectively be referred to herein as the “.”

ARTICLE III

Merger Consideration

3.01. Conversion of PWOD Common Stock.

At the Effective Time, by virtue of the Parent Merger and without any action on the part of NWBI, PWOD, or the holder of any of shares of PWOD
Common Stock:

(a) Subject to and except as otherwise provided by paragraph (b) of this
, each share of PWOD Common Stock (other than Treasury Shares) issued and outstanding immediately prior to the Effective Time shall be converted into the right to receive 2.385 shares of NWBI Common Stock
(the “” and such shares, the “”).

(b) All of the shares of PWOD
Common Stock converted into the right to receive the Merger Consideration pursuant to shall no longer be outstanding and shall automatically be cancelled and shall cease to exist as of the Effective Time, and
each certificate (each, an “,” it being understood that any reference herein to “” shall be deemed to include reference to book-entry account statements relating to the ownership of
shares of PWOD Common Stock) previously representing any such shares of PWOD Common Stock shall thereafter represent only the right to receive (i) the Merger Consideration, (ii) cash in lieu of a fractional share which the shares of PWOD
Common Stock represented by such Old Certificate have been converted into the right to receive pursuant to and , and (iii) any dividends or distributions
which the holder thereof has the right to receive pursuant to , in each case without any interest thereon. Old Certificates previously representing shares of PWOD Common Stock shall be exchanged for certificates
or, at NWBI’s option, evidence of shares in book entry form representing whole shares of NWBI Common Stock as set forth in (together with any dividends or distributions with respect thereto and cash in
lieu of fractional shares issued in consideration therefor) upon the surrender of such Old Certificates in accordance with , without any interest thereon. If, between the date of this Agreement and the Effective
Time, the outstanding shares of PWOD Common Stock shall have been increased, decreased, changed into or exchanged for a different number or kind of shares or securities, in any such case as a result of a reorganization, recapitalization,
re