Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 33

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 33
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 conditional resignation, or whether other action should be taken.

In making this recommendation, the Nominating and Corporate Governance Committee will consider all factors deemed relevant by its members. These factors may include the underlying reasons why stockholders voted against the director (if ascertainable), the length of service and particular qualifications of the director whose resignation has been tendered, the director’s contributions to Webster, whether by accepting the resignation Webster will no longer be in compliance with any applicable law, rule, regulation, or governing document, and whether accepting the resignation is in the best interest of Webster and our stockholders. In considering the Nominating and Corporate Governance Committee’s recommendation, the Board will consider the factors considered by the Nominating and Corporate Governance Committee and such additional information and factors the Board believes to be relevant. We will promptly publicly disclose the Board’s decision and process in a report filed with or furnished to the SEC.

Annual Board and Committee Self-Assessments

Each year, the Board and each Committee undergoes a self-assessment process to evaluate performance of the Board and each Committee. As part of the evaluation process, the self-assessment addresses Board and Committee efficiency, effectiveness of Board composition and governance and Board and Committee dynamics and culture. The information learned through this process is utilized in part when considering outside director candidates. The Nominating and Corporate Governance Committee oversees the self-assessment process to assist in determining whether the Board and its Committees are functioning effectively.

Our Board and Committee self-assessments address topics such as the following:

• Board and Committee efficiency and overall effectiveness of Board composition and governance;

• Director’s access to and interactions with members of management;

• Board leadership structure, including effectiveness of the Lead Independent Director;

• Quality of Board and Committee discussions;

• Board and Committee dynamics and culture;

• Quality, scope, and timeliness of information provided to the Board;

• Quality of information provided regarding, and the Board’s role in overseeing, Webster’s strategic planning, risk management, and related matters; and

• OCC Heightened Standards requirements, including questions on the effectiveness of Webster’s risk governance framework, active oversight of management, the exercise of independent judgment by the Board and each Committee, inclusion of independent directors and ongoing training to all directors.

In addition to participating in the annual Board and Committee evaluation process, directors are encouraged to raise any topics related to Board and Committee performance and effectiveness, or any other matter, at any time with the Lead Independent Director, the Chair of the Nominating and Corporate Governance Committee, the Chair of another