Company: NWBI
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049104
Chunk: 32

Company: Northwest Bancshares, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 32
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 we delivered above budgeted returns on average shareholders’ equity and assets, with annualized adjusted returns for 2024 at 8.49% and 0.92%, respectively, showcasing our commitment to delivering value to our shareholders. Additionally, our net interest income was flat vs prior year, which reflects our ability to effectively manage the interest rate environment and optimize our balance sheet. Despite the macroeconomic challenges, our asset quality remains stable with overall delinquency at approximately 0.9% and 90-daydelinquency at just 0.2%. In addition, our capital levels remain strong with Tangible Common Equity to Tangible Assets Ratio increasing to 8.65% and all regulatory capital ratios comfortably above “Well Capitalized” levels providing flexibility for future growth and capital management strategies. 2024 Compensation Highlights.Our executive compensation program has three primary elements: base salary, annual incentives, and long-term equity incentives. Each of these compensation elements serves a specific purpose in our compensation strategy. Base salary is an essential component to any market-competitive compensation program. Annual incentives reward the achievement of short-term goals, while long-term incentives drive our NEOs to focus on long-term sustainable shareholder value 15

creation. Based on our performance and consistent with the design of our program, the Compensation Committee made the following executive compensation decisions for fiscal 2024:

| • |     | Annual Incentives. Based on our results relative to the financial performance objectives under the Management Bonus Plan, initial funding results were 92.47% of target. However, based on its assessment of actual overall performance, the Compensation Committee approved funding of the Management Bonus Plan at 100% of target, and further adjusted each NEO’s actual award payout based on individual performance. |

| • |     | Long-Term Equity Incentives. For 2024, long-term equity incentive awards were granted to the NEOs using an equally weighted mix of performance stock units (“PSUs”) and restricted stock units (“RSUs”). However, to place a heavier emphasis on performance, the Compensation Committee granted Mr. Torchio’s award using a mix of 55% of PSUs and 45% RSUs. The PSUs granted in 2022 did not vest as the required threshold performance criteria (rROAA) were not met. |

| • |     | One-Time RSU Grant to Mr. Torchio. As previously disclosed on our Form 8-K filed in November 2024, on December 20, 2024, the Compensation