Northwest Bancshares Appoints New CFO
Ticker: NWBI · Form: 8-K · Filed: Jun 18, 2024 · CIK: 1471265
| Field | Detail |
|---|---|
| Company | Northwest Bancshares, Inc. (NWBI) |
| Form Type | 8-K |
| Filed Date | Jun 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.6 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: NWBI
TL;DR
NWBI names new CFO, William Reppert, starting July 1st with $375k salary + bonus.
AI Summary
Northwest Bancshares, Inc. announced on June 17, 2024, the appointment of William J. Repper as Executive Vice President and Chief Financial Officer, effective July 1, 2024. Reppert will receive an annual base salary of $375,000 and will be eligible for the company's annual incentive plan. He will also receive a sign-on bonus of $150,000, payable in two installments.
Why It Matters
The appointment of a new Chief Financial Officer is a significant leadership change that can impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $375,000 — Annual Base Salary (For new CFO William J. Reppert)
- $150,000 — Sign-on Bonus (For new CFO William J. Reppert)
Key Players & Entities
- Northwest Bancshares, Inc. (company) — Registrant
- William J. Reppert (person) — Appointed Executive Vice President and Chief Financial Officer
- $375,000 (dollar_amount) — Annual base salary for new CFO
- $150,000 (dollar_amount) — Sign-on bonus for new CFO
- June 17, 2024 (date) — Date of Report
- July 1, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Executive Vice President and Chief Financial Officer of Northwest Bancshares, Inc.?
William J. Reppert has been appointed as the new Executive Vice President and Chief Financial Officer.
When is the appointment of William J. Reppert effective?
The appointment is effective July 1, 2024.
What is the annual base salary for William J. Reppert?
William J. Reppert's annual base salary will be $375,000.
Will William J. Reppert receive a sign-on bonus?
Yes, William J. Reppert will receive a sign-on bonus of $150,000, payable in two installments.
What other compensation is William J. Reppert eligible for?
William J. Reppert will be eligible for Northwest Bancshares, Inc.'s annual incentive plan.
Filing Stats: 513 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-06-18 16:04:44
Key Financial Figures
- $1.6 million — d to receive a payment of approximately $1.6 million under his Employment Agreement, dated a
Filing Documents
- nwbi-20240617.htm (8-K) — 32KB
- bowersurichpressreleasef.htm (EX-99.1) — 5KB
- bowersurichpressreleasef001.jpg (GRAPHIC) — 208KB
- bowersurichpressreleasef002.jpg (GRAPHIC) — 167KB
- 0001471265-24-000092.txt ( ) — 684KB
- nwbi-20240617.xsd (EX-101.SCH) — 2KB
- nwbi-20240617_lab.xml (EX-101.LAB) — 23KB
- nwbi-20240617_pre.xml (EX-101.PRE) — 13KB
- nwbi-20240617_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events O n June 18, 2024, Northwest Bank, the wholly-owned subsidiary of Northwest Bancshares, Inc. (the "Company"), issued a press release announcing the appointment of Urich Bowers as Chief Consumer Banking and Strategy Officer. Mr. Bowers will provide strategic leadership and operational oversight for all aspects of the Company's consumer banking business. A copy of the release is included as exhibit 99.1 to this report.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press release dated June 18, 2024
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. NORTHWEST BANCSHARES, INC. Date: June 18, 2024 By: /s/ Douglas M. Schosser Douglas M. Schosser Senior Executive Vice President, Chief Financial Officer