Northwest Bancshares awarded Lou Torchio a new restricted stock unit grant replacing rescinded shares, with the New Award of 125,298 RSUs effective on or about July 31, 2026.
| IndividualLou Torchio | RolePresident and Chief Executive Officer | Type of ChangeEquity award granted / Replacement of rescinded award | Effective DateOriginal Award: Dec 20, 2024; Rescission of excess: Aug 20, 2025; New Award approved: Jul 22, 2026; New Award effective on or about Jul 31, 2026 | ReasonCompensation committee review found prior pay below peers and to incent continued service past normal retirement age; portion of Original Award exceeded prior plan limits and was rescinded | Replacement InfoNew Award of 125,298 RSUs replaces rescinded portion and includes expected annual grants for 2025 and 2026 | Background DetailsCEO since Aug 2022; recognized for transforming business and operations; New Award vesting over four years with settlement terms and accelerated vesting conditions (death, disability, certain terminations) | Board/Committee Role ChangesNot disclosed |
Original SEC Filing:
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