Company: WBS-PG
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0000801337-25-000059
Chunk: 6

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-06-26
Form: 11-K
Chunk 6
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 participant may elect to receive all or a portion of their vested account balance either in a single lump-sum or in installments over a period of time not to exceed the participant’s life expectancy or the joint life expectancy of the participant and his or her designated beneficiary. Terminated vested participants with account balances less than or equal to $5,000 are subject to the Plan’s maximum cash-out provision. In-service withdrawals are permitted at the request of the participant upon having attained age 59-1/2 or in the event of financial hardship, as defined by the Plan, subject to the participant having exhausted all non-taxable loan options and available distributions prior to the request. Distributions from a participant’s rollover contributions are allowed at any time.

#### Forfeited Accounts
Amounts forfeited during the plan year are first used to reinstate previously forfeited amounts of certain rehired employees, then to pay Plan expenses, and lastly to reduce employer contributions. No forfeitures were used to reinstate rehired employee accounts for the years ended December 31, 2024, and 2023. For the years ended December 31, 2024, and 2023, forfeited amounts of $20,100 and zero, respectively, were used to pay plan expenses, and $684,367 and $80,000, respectively, were used to reduce employer contributions. At December 31, 2024, and 2023, the remaining forfeited non-vested accounts totaled $215,567 and $332,662, respectively.

#### Plan Amendments
Effective January 1, 2023, the required minimum distribution age increased from 72 to 73 for individuals who attain age 72 on or after such date.

Effective January 11, 2023, individuals who became employees of the Bank in connection with the acquisition of interLINK from StoneCastle Partners LLC on January 11, 2023, are eligible to participate in the Plan.

Effective January 1, 2024, an employee is eligible to receive employer contributions under the Plan as soon as administratively feasible after having attained age 21.

Effective January 1, 2024, individuals who became employees of the Bank or the Company in connection with either the Sterling Bancorp merger on January 31, 2022, or the Bend Financial, Inc. acquisition on February 18, 2022, are eligible to participate in the Plan. In addition, individuals with an account balance under the Sterling National Bank 401(k