Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 52

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 52
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-Term Incentive Grants —Annual LTI grants were approved in February 2024 in the form of 60% performance shares and 40% time-vested restricted stock, as described above, based in part on each NEO’s 2023 performance and granted based on such NEOs’ 2023 base pay and LTI target percent. Target opportunities for the LTI awards granted in 2024 represent between 37% and 57% of total compensation for the NEOs, excluding our former Executive Chairman. LTI awards may be increased or decreased from target levels based on a variety of factors including the Company’s prior year performance against financial and strategic goals. The Compensation and HR Committee determines the recommended grants for the Chairman & Chief Executive Officer 6 Adjusted ROE is a non-GAAP measure. See Appendix A for a reconciliation of non-GAAP measures to the corresponding GAAP measures. 38

| WebsterFinancial Corporation |     | EXECUTIVE COMPENSATION |

and reviews and approves the Chairman & Chief Executive Officer’s recommendation for the other NEOs. The Compensation and HR Committee approved grants at target levels for each NEO as shown in the chart below, with the exception of Mr. Massiani, who received 110% of target in consideration of his expanded role as President and Chief Operating Officer.

| 2024 LONG-TERM INCENTIVE COMPENSATION 
 Name                                  |     | Long-Term       
 Incentive Award |           |
|:--------------------------------------|:----|:----------------|----------:|
| John R. Ciulla                        |     | $               | 3,300,000 |
| Glenn I. MacInnes                     |     | $               |   984,000 |
| Neal Holland1                         |     | $               |   750,000 |
| Luis R. Massiani                      |     | $               | 2,135,000 |
| Christopher J. Motl                   |     | $               | 1,520,000 |
| Kristy Berner                         |     | $               |   550,000 |

1 Amount shown reflects value of time-based restricted stock granted to Mr. Holland on July 25, 2024 pursuant to the terms of his offer letter RETIREMENT PLANS Pension Plan —Webster Bank maintains a frozen tax-qualified defined benefit pension plan (the “ Pension Plan ”). Webster stopped benefit accruals under the plan for all employees, including the NEOs as of December 31, 2007