Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 44

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 44
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 of the respective officer, Webster’s size and complexity of operations and, to a certain extent, the compensation paid to other employees of the Company. The Compensation and HR Committee uses external data as input for the Compensation and HR Committee’s analysis and to obtain a general understanding of current market compensation practices, rather than as strict rules for establishing compensation. Consequently, actual compensation received may vary from targeted compensation. Compensation Consultant The Compensation and HR Committee retained CAP as its independent compensation consultant. In carrying out its responsibilities, the Compensation and HR Committee engages CAP to offer market perspectives on annual pay, current executive and director compensation trends, and assess and advise regarding compensation programs currently in place at Webster. CAP also provides insight into regulatory issues affecting compensation. The Compensation and HR Committee has the authority to hire and terminate the independent compensation consultant and determine the nature and scope of the consultant’s assignments. The Compensation and HR Committee reviewed the work performed by CAP and, under SEC and NYSE regulations, determined that the work did not create a conflict of interest. CAP provided the Compensation and HR Committee with insights relating to trends in executive compensation in the banking sector. At the direction of the Compensation and HR Committee, CAP reviewed all elements of compensation for the NEOs and other executive officers and made recommendations with regard to plan design. CAP also reviewed an analysis of Webster’s 2024 performance relative to peers and opined on management’s proposals to the Compensation and HR Committee regarding 2024 executive compensation. CAP attended all Compensation and HR Committee meetings and, in each meeting, had the opportunity to meet with the Compensation and HR Committee in executive session. The Compensation and HR Committee considers the independent compensation consultant’s perspective as part of its decision-making process. The Compensation and HR Committee communicates compensation decisions directly to management. The Compensation and HR Committee utilized market context and recommendations from CAP when determining the amount and form of compensation paid to Webster’s executive officers and directors for 2024. Compensation Peer Group Each year, the Compensation and HR Committee reviews the composition of the peer group with the assistance of CAP. The objective is to maintain a group of peer bank holding companies that individually and collectively represent suitable comparators for compensation-related analyses. Suitability is defined using a number of factors including size, scope, business mix and geographic focus. Size and scope measures include total assets, market capitalization and number of branches. Business mix is reflected by an analysis of loan composition (consumer, real estate, commercial and construction). Banks with a geographic focus outside the continental United States are excluded regardless of the appropriateness of their