Company: WSBC
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039418
Chunk: 38

Company: WESBANCO INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 38
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 exceeding target in all performance categories for the year. They also noted his leadership in structuring personnel policies and procedures that facilitated the achievement of such a performance. They also noted his leadership in building a management succession talent development program that could drive better performance and assimilate growth, such as the Premier acquisition.

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In determining Mr. Richmond's award, the Committee noted the Corporation's strong financial performance for the year. The Committee also noted the development of forecasting data that has improved the budget process for the Corporation, spearheaded by Mr. Richmond. They also noted his significant contributions in managing profitability and pricing for loans, products and services offered by the Corporation.

Long-Term Incentive Compensation

Our Compensation Committee believes that long-term incentive compensation is an important component of our compensation program because it has the effect of retaining and motivating executives, aligning executives’ financial interests with the interests of stockholders, and rewarding the achievement of the Corporation’s long-term strategic goals. Three principal types of long-term incentive awards are available to grant to executive officers under the Corporation’s Incentive Plan:

Stock options;

Restricted stock; and

Long-term cash bonuses.

In addition to these long-term incentive awards, the Compensation Committee has discretion to grant various other types of incentive awards.

StockOptions.Stock options provide our executive officers with the opportunity to purchase and maintain an equity interest in the Corporation and to share in the appreciation of the value of our stock. The Compensation Committee utilizes stock options as a compensation tool because they focus executives on the Corporation’s long-term performance, including stock appreciation. The Compensation Committee awards stock options in amounts and subject to terms and conditions intended to be competitive with those awarded for comparable positions at banks within the 2024 Peer Group. The Compensation Committee receives recommendations from our Chief Executive Officer for executive officers other than himself and provides overall compensation expense calculations for such awards. Stock options were granted to executive officers, including the named executive officers, in 2024. The options granted in 2024 for executive officers, including all of the named executive officers, vest one half on May 15, 2025, and the remaining one half on December 31, 2025, and exercisable for a period of seven years. See the “Grants of Plan-Based Awards for the Year ended December 31, 2024” table on page41. Some features of our stock option program include:

Options are structured as either performance-based or time-based and vest over a designated period, assuming pre-established EPS targets