Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 188

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 188
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442,401 Denominator for earnings per share - two class method - Basic and Diluted:Weighted average common shares outstanding - Basic127,085,446 126,668,671 126,167,892 Add: Average participating shares outstanding 158,719 319,501 556,201 Denominator for two class method - Diluted127,244,165 126,988,172 126,724,093 Basic earnings per share$0.79 1.06 1.05 Diluted earnings per share$0.79 1.06 1.05 Anti-dilutive awards (1)2,128 2,814 1,951 (1)    Reflects the total number of shares related to outstanding options that have been excluded from the computation of diluted earnings per share because the impact would have been anti-dilutive.

(15)    Employee Benefit Plans

 (a)                                 Pension Plans We maintain noncontributory defined benefit pension plans covering certain employees and members of our board of directors. Retirement benefits are based on certain compensation levels, age, and length of service. Contributions are based on an actuarially determined amount to fund not only benefits attributed to service to date but also for those expected to be earned in the future. In addition, we have an unfunded Supplemental Executive Retirement Plan (“SERP”) to compensate those executive participants eligible for the defined benefit pension plan whose benefits are limited by Section 415 of the IRC. We also sponsor a retirement savings plan in which substantially all employees participate. We provide a matching contribution of 100% of each employee’s contribution to a maximum of 4% of the employee’s compensation.Effective August 1, 2020, the Pension Plan was amended to include a soft freeze. The soft freeze will allow those employees in an eligible position that were hired, rehired, or acquired on or before July 31, 2020, to continue to vest and accrue additional benefits for each year they are credited with 1,000 hours or more. Employees that are hired, rehired, acquired, or transfer to an eligible job classification on or after August 1, 2020 are not eligible to participate in the Pension Plan. Total expense for the defined contribution retirement savings plan was $2 million, $4 million, and $4 million for the years ended December 31, 2024, 2023