Company: NWBI
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049104
Chunk: 52

Company: Northwest Bancshares, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 52
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Us and RSUs granted in 2024, 2023 and 2022 calculated in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718 (excluding the effect of estimated forfeitures). The grant date fair values reflected in this column may differ from the approved values reflected in the CD&A because of the accounting methodology used to report the PSUs in this column, as required by SEC rules. The assumptions used in the valuation of these awards are included in Notes 1(q) and 15(c) of the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC. For the PSUs, the grant date fair value is based on the achievement at target, as prescribed by ASC Topic 718. |

| (2) | Amounts reflect the annual cash incentive awards earned by the NEOs under the Management Bonus Plan. See “Compensation Discussion and Analysis—Annual Cash Incentive”. |

| (3) | Amounts reflect the aggregate year to year change in the actuarial present value of the NEO’s accrued pension benefit under all qualified defined benefit pension plans based on the assumptions used for FASB ASC 715 at each measurement date. As such, the change reflects changes in pension value due to an increase or decrease in the FASB ASC 715 discount rate, changes in mortality table and changes due to the accrual of plan benefits. For the year ended December 31, 2024, the discount rate used to value plan benefits increased to 5.44% from 4.79%, which resulted in a decrease in the value of the prior service benefits. The financial impact resulting from the increase in discount rate for Messrs. Torchio, Harvey and Watson were decreases of $29,083, $123,767 and $17,168, respectively. For the year ended December 31, 2023, the discount rate used to value plan benefits decreased to 4.79% from 4.99%, which resulted in an increase in the value of the prior service benefits and for the year ended December 31, 2022, the discount rate increased to 4.99% from 2.75%. There were no nonqualified deferred compensation earnings required to be reported because no employee deferred compensation plans existing during the year ended December 31, 2024. Messrs. Schosser, Betchkal and DesMarte