Company: NWBI
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049104
Chunk: 41

Company: Northwest Bancshares, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 41
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 % |     |        | 288,800 |
| Scott J. Watson        |     |              | 40 | % |     |        | 162,300 |     |              | 40.0 | % |     |        | 162,300 |

As a result of Mr. Golding’s termination of employment on June 17, 2024, Mr. Golding was not eligible to receive a bonus for fiscal year 2024. Long-Term Stock-Based Compensation.The purpose of our 2022 Equity Incentive Plan is to promote the long-term financial success of the Company and its subsidiaries, including Northwest Bank, by providing a means to attract, retain and reward individuals who contribute to that success and to further align their interests with those of the Company’s shareholders through the ownership of shares of Company stock. In 2024, the Compensation Committee granted long-term incentive compensation that is 20

balanced between retention and forward-looking performance incentives. To place a heavier emphasis on performance, the Compensation Committee granted Mr. Torchio’s award using a mix of 50% PSUs and 40% RSUs. Awards granted to the other NEOs used a combination of RSUs and PSUs as follows:

| Award type |     | Weighting |     | Design at-a-glance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| PSUs       |     | 50%       |     | PSUs align executive pay with achievement of financial metrics that are the most impactful to shareholders. Performance is measured against both relative and absolute metrics to provide a comprehensive and balanced evaluation of our long-term business performance. NEOs can earn between 0% and 150% of their target award opportunity. If achievement warrants and the executive remains employed by the Company, PSUs vest at the end of the three-year performance period to the extent performance is achieved. |
| RSUs       |     | 50%       |     | RSUs granted to NEOs in fiscal 2024 vest in equal installments each year on the first three anniversaries of the grant date.                                                                                                                                                                                                                                                                                                                                                                                              |

The Compensation Committee believes that this combination, coupled with meaningful stock ownership requirements, will ensure that executives are focused on creating shareholder value and the long-term success of the Company. Target long-term opportunities are expressed as a percentage of base salary at the time of grant and were established according to each NEO’s level of responsibility and his or her ability to impact overall results. The Compensation Committee also considers market data in setting target award amounts. Target