Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 29

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 29
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 Webster or its affiliates, including those relationships described under “Compensation Committee Interlocks and Insider Participation” on page 50 and “Transactions with Related Persons” on page 56 of this Proxy Statement, as well as based on discussions with the Board. As a result of this evaluation, the Board affirmatively determined

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| WebsterFinancial Corporation |     | BOARD MEETINGS, COMMITTEES OF THE BOARD AND RELATED MATTERS |

that, except for Mr. Ciulla, each of the directors is an “independent director” for purposes of Section 303A of the Listed Company Manual of the NYSE and applicable SEC rules and regulations. In connection with its evaluation of director independence, the Board considered that Webster provides lending and other financial services to directors, their immediate family members, and their affiliated organizations in the ordinary course of business and without preferential terms or rates.

Mr. Ciulla is not considered independent because he is an executive officer of Webster and Webster Bank.

2024 BOARD AND COMMITTEE MEETINGS

During the year, Webster held nine regular and special meetings of its Board. All directors standing for re-election attended at least 95% of the aggregate of (i) the total number of meetings held by the Board during the period that the individual served and (ii) the total number of meetings held by all Committees of the Board on which the individual served during the period that the individual served.

EXECUTIVE SESSIONS OF INDEPENDENT DIRECTORS

Webster’s Corporate Governance Policy requires independent directors to meet periodically, but no less than once per year. In 2024, every regularly scheduled Board meeting had an executive session of independent directors. The Lead Independent Director presides over the executive sessions of independent directors.

ORIENTATION TRAINING AND CONTINUING EDUCATION

Webster believes that our stockholders are best served by a Board comprised of individuals who are well versed in modern principles of corporate governance, regulatory requirements, and matters relevant to the banking industry and to the clients Webster serves. New directors are required to participate in an orientation program that (i) provides an overview of Webster’s culture, values, leadership, structure, products and services, and overall governance; (ii) introduces new directors to key members of Webster’s Executive Management Committee; and (iii) includes presentations by senior management intended to familiarize new directors with Webster’s strategic plans, regulatory environment, risk management program, and the nature and operations of Webster’s business activities. Webster also has a Board of Directors