Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 123

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 123
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ergers as the sole shareholders of each subsidiary bank, respectively. Prior to the Effective Time, PWOD shall cause Luzerne Bank and Jersey Shore State Bank, respectively, and
NWBI shall cause Northwest Bank, to execute such certificates or articles of merger and such other documents and certificates as are necessary to effectuate the Subsidiary Bank Mergers (“”). The
Subsidiary Bank Mergers shall become effective at such time and date as specified in the Subsidiary Bank 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