Company: WSBC
Filing Date: 2025-06-20
Form Type: 11-K
Source: 0000950170-25-088457
Chunk: 4

Company: WESBANCO INC
Filing Date: 2025-06-20
Form: 11-K
Chunk 4
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. The Plan, a contributory 401(k) profit sharing plan, was restated effective August 1, 2023. Empower Trust Company (“Empower”) became the Trustee and record-keeper of the Plan effective on the restatement date of the Plan. PNC Bank, N.A.. was the prior Trustee of the Plan up until the restatement of the Plan. Newport Group was the prior record keeper of the Plan up until the restatement of the Plan. Prior to August 1, 2023, the Plan included an employee stock ownership (“ESOP”) plan feature, and was named the Wesbanco, Inc. KSOP. Effective August 1, 2023 the Plan is named Wesbanco, Inc. 401(k) Plan.

The Planprovides for salary deferral and matching employer contributions. An employee who has completed 60 days of service after attaining 21 years of age shall be eligible to become a participant of the Plan the first day of the next calendar month. New participants in the Plan will be deemed to have automatically elected to defer 3% of pay into the Plan, unless an affirmative election otherwise is made. Eligible employees can invest the employee deferral, employer matching and employee rollover contribution among funds that are made available by the Plan Administrator. A participant’s interest is 100% vested in the employee deferral, employer matching and any rollover account upon becoming eligible to participate in the Plan. Employer matching contributions may be paid to the Plan in cash or shares of Wesbanco, Inc. common stock, as determined by the Board of Directors. Participants may redirect any employer matching contributions made in common stock into other registered investment funds. For the years ended December 31, 2024 and 2023, the matching contributions were equal to 100% of the first 3% of compensation deferred and 50% of the next 2% of compensation deferred and were paid in cash, which is used to buy available funds in proportion to funds elected by the employee for new contributions. The amount of the contribution per employee did not exceed the $69,000 in 2024 and $66,000 in 2023 for total contribution amount (employees’ salary deferrals plus employer’s matching contributions) permitted by federal law.

The Plan invests in common stock of the Company through its Company Stock Fund. The Company Stock Fund may also hold cash or other short-term securities, although these are expected to be a small percentage of the fund.