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AI brief of an SEC Form 8-K · Northwest Bancshares (NWBI)

Northwest Bancshares grants CEO Lou Torchio 125,298 restricted stock units

Neutral Impact 3 of 5 leadership Written later

Northwest Bancshares' Compensation Committee and Board approved a new restricted stock unit award of 125,298 units to CEO Lou Torchio on July 22, 2026, effective on or about July 31, 2026. The company says the award replaces a 2024 grant that was partly rescinded after it exceeded the annual individual grant limit, and it reflects shares the committee expected to grant in March 2025 and March 2026 had the higher limit applied.

Key points

  • Award of 125,298 restricted stock units approved July 22, 2026; effective on or about July 31, 2026
  • Original award approved November 20, 2024, valued at $2,000,000 divided by the closing price on the grant date, granted December 20, 2024
  • Excess portion of the original award rescinded August 20, 2025, after it exceeded the $1,000,000 annual individual grant limit under the 2022 Plan
  • Shareholders approved the 2026 Equity Incentive Plan on May 20, 2026, raising the individual annual grant limit to $5,000,000

The filing

CompanyNorthwest Bancshares (NWBI)
Form8-K, current report
Filed with the SECJul 24, 2026, 4:05 PM ET
Accession number0001471265-26-000028

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 24, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.