Northwest Bancshares awards CEO Lou Torchio 125,298 restricted stock units under new equity plan

Reuters2026/07/24 20:07

By:Reuters

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Northwest Bancshares set a new restricted stock unit award of 125,298 units for CEO Lou Torchio, effective on or about July 31, 2026.
The grant replaces units previously rescinded from a December 20, 2024 award tied to a USD 2 million value that exceeded the 2022 plan limit.
The new award also covers shares expected under the annual grant process in March 2025 and March 2026 under the higher 2026 plan limit.
Units vest on the first day after the fourth anniversary of the grant date, subject to continued employment, with settlement split across two installments.
Terms provide accelerated vesting on death or disability, or on certain termination events tied to a change in control or reaching age 65.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Northwest Bancshares Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001471265-26-000028), on July 24, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Northwest Bancshares awards CEO Lou Torchio 125,298 restricted stock units under new equity plan

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