Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 92

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 92
---
,245

        28.45

        Vested during the year

        (141,223
        )

        36.58

        Forfeited or expired during the year

        (27,111
        )

        32.17

        Dividend reinvestment

        32,128

        29.31

        Non-vested at end of the year

        784,529

        $
        27.25

       Total Shareholder Return PlanOn November 18, 2015, Wesbanco’s Compensation Committee adopted Administrative Rules for a Total Shareholder Return Plan (“TSRP”). The TSRP measures the TSR on Wesbanco common stock over a three-year measurement period relative to the return of an established peer group of publicly traded companies over the same performance period. The award is determined at the end of the three-year period if the TSR of Wesbanco common stock is equal to or greater than the 50th percentile of the TSR of the peer group. The number of shares to be earned by the participant shall be 200% of the grant-date award if the TSR of Wesbanco common stock is equal to or greater than the 75th percentile of the TSR of the peer group. Upon achieving the market-based metric, shares determined to be earned by the participant become service-based and vest in three equal annual installments. Voting rights accrue at such time as well. Wesbanco granted 12,000 TSRP shares in 2024 for the performance period beginning January 1, 2024 and ending December 31, 2026 to certain executive officers. The fair value of the market-based awards is based on a Monte-Carlo Simulation valuation of our common stock and our peers’ common stock as of the grant date.Based on the calculation of shareholder return over the measurement period beginning January 1, 2022 and ending December 31, 2024, Wesbanco stock performance did not equal or exceed the 50th percentile when compared to peer calculations of shareholder return. Therefore, none of the 12,000 shares relating to the 2022 TSR grant will be issued as service-based shares.Compensation expense relating to the TSR plans was $0.4 million, $0.3 million and $0.2 million in 2024, 2023 and 2022, respectively. The grant date fair value of the 2024 TSR award was $27.70 per share. At December 31