Company: WSBC
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039418
Chunk: 26

Company: WESBANCO INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 26
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 our Compensation Committee, which consisted of 15 regional banks from approximately $13.3 Billion to $30 Billion in total assets. The peer group used for our executive compensation review differs from the indices used in the performance graph contained in our annual report on Form 10-K. Our peer group for 2024 compensation purposes (the “2024 Peer Group”) is comprised of the 15 banks listed below:

| Ameris Bankcorp (ABCB)            | Atlantic Union Bkshs Corp. (AUB) | Community Bank System Inc. (CBU)   |
| First Merchants Corp. (FRME)      | First Financial Bancorp. (FFBC)  | Independent Bank Corp. (INDB)      |
| OceanFirst Financial Corp. (OCFC) | Fulton Financial Corp. (FULT)    | Sandy Spring Bancorp Inc. (SASR)   |
| Renasant Corp. (RNST)             | TowneBank (TOWN)                 | Trustmark Corp. (TRMK)             |
| United Bankshares Inc. (UBSI)     | NBT Bancorp Inc. (NBTB)          | United Community Banks Inc. (UCBI) |

The Committee last conducted an independent review of total compensation for the named executive officers in May 2023, followed by a supplemental report in November 2023. The Committee engaged Cowden & Associates ("Cowden") to provide a study based on the 2023 Peer Group. The Compensation Committee also confirmed its determination that Cowden was independent and that there were no conflicts of interest with respect to the work applicable for review and consideration by the Compensation Committee based on the consideration of the factors specified in the rules of the SEC and the listing standards of the Nasdaq Stock Market. The initial assessment prepared by Cowden was dated May 12, 2023, and was presented at the Committee meeting held on May 24, 2023. This report provided a market based study of total compensation regarding the named executive officers and Board of Director fees to the 2023 Peer Group and recommendations for consideration.

The report noted a gap in Wesbanco's total compensation for its CEO and CFO compared to the 2023 Peer Group averages. Cowden recommended that the Compensation Committee consider higher target levels as part of its compensation

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philosophy and implement changes to attain those targets over an extended period. Cowden also recommended increasing award opportunities at threshold performance levels and above target