Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 87

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 87
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 or paid in cash to the participant. On June 28, 2024, Wesbanco registered an additional 1,000,000 shares of Wesbanco common stock for issuance under the 401(k) plan. Wesbanco had 1,016,640 and 65,270 shares registered on Form S-8 remaining for future issuance under the 401(k) plan at December 31, 2024 and 2023, respectively.Incentive Bonus, Option and Restricted Stock Plan— The Incentive Bonus, Option and Restricted Stock Plan (the “Incentive Plan”), is a non-qualified plan that includes the following components: an Annual Bonus and a Long-Term Incentive, which included a Total Shareholder Return Plan, a Stock Option component, and a Restricted Stock component for certain key officers of the Company. The components allow for payments of cash, a mixture of cash and stock, granting of stock options, or granting of restricted stock, depending upon the component of the Incentive Plan in which the award is earned, through the attainment of certain performance goals or time-based vesting requirements. Performance goals or service vesting requirements are established by Wesbanco’s Compensation Committee. On April 19, 2024, Wesbanco registered an additional 1,100,000 shares of Wesbanco common stock for issuance under the Incentive Plan. Wesbanco had 1,793,381 and 1,069,689 shares registered on Form S-8 remaining for future issuance under equity compensation plans at December 31, 2024 and 2023, respectively.Effective December 1, 2023, Wesbanco adopted a new incentive-based compensation recovery policy ("clawback policy") in reference to the requirements set forth in Listing Rule 5608 of the corporate governance rules of the NASDAQ Stock Market and revoked the prior clawback policy that was in effect.  Please refer to Exhibit 97 of this form 10-K for the full version of the clawback policy.

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Annual BonusCompensation expense for key officers for the Annual Bonus was $4.4 million for 2024, 2023 and 2022, respectively.Stock OptionsOn May 15, 2024, Wesbanco granted 156,000 stock options to selected participants, including certain named executive officers at an exercise price of $28.60 per share. The options granted in 2024 are service-based and vest in two equal installments on