Company: WSBC
Filing Date: 2025-03-03
Form Type: 8-K
Source: 0001193125-25-043531
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Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 8-K
Item: Item 2.01
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Item 2.01 Completion of Acquisition or Disposition of Assets.

On February 28, 2025, Wesbanco, Inc., a West Virginia corporation (“ Wesbanco”), completed its previously announced merger (the “ Merger”) with Premier Financial Corp., an Ohio corporation (“ Premier Financial”), pursuant to an Agreement and Plan of Merger (the “ Merger Agreement”), dated as of July 25, 2024, by and among Wesbanco, Wesbanco Bank, Inc., a West Virginia corporation and a wholly-owned subsidiary of Wesbanco (“ Wesbanco Bank”), Premier Financial and Premier Bank, an Ohio corporation and a wholly-owned subsidiary of Premier Financial. At the effective time of the Merger (the “ Effective Time”), Premier Financial merged with and into Wesbanco, with Wesbanco as the surviving corporation in the Merger. Pursuant to the terms of the Merger Agreement, each share of Premier Financial’s common stock, par value $0.01 per share (“ Premier Financial Common Stock”), outstanding immediately prior to the Effective Time has been converted into the right to receive 0.80 of a share of common stock of Wesbanco (the “ Merger Consideration”), $2.0833 par value per share (the “ Wesbanco Common Stock”), with cash to be paid in lieu of fractional shares. Each share of Wesbanco Common Stock outstanding immediately prior to the Effective Time remained outstanding and was unaffected by the Merger.

At the Effective Time, each stock option (or portion thereof) granted by Premier Financial to purchase shares of Premier Financial Common Stock under Premier Financial’s stock compensation and stock based incentive plans, whether vested or unvested, that was outstanding and unexercised immediately prior to the Effective Time generally became, without any further action on the part of Wesbanco, Premier Financial or the holder thereof, cancelled and terminated and converted into the right to receive an amount of cash in respect of each Net Option Share (as defined below) subject to such option equal to the product of (i) 0.80 and (ii) the volume weighted average trading price of Wesbanco Common Stock on the Nasdaq Global Select Market for the 20-trading dayperiod ending on February 12, 2025 (the “ Average Closing Price”). The amount payable to any holder of a Premier Financial stock option will be reduced by any applicable tax withholding. For the avoidance of doubt, except as contemplated otherwise by the Merger Agreement, each outstanding Premier Financial