Form 4: Northwest Bancshares Executive Acquires Shares Through RSU Grant

Devin T. Cygnar, EVP, Chief Marketing/Communications Officer of Northwest Bancshares, Inc., reports acquisition of shares through a restricted stock unit (RSU) grant.

Summary

• On March 20, 2024, Devin T. Cygnar, EVP, Chief Marketing/Communications Officer of Northwest Bancshares, Inc., acquired 5,048 shares of Northwest Bancshares, Inc. Common Stock through a grant.
• These shares were acquired at a price of $0.
• One third of the RSU shares will vest each year beginning March 20, 2025, and on each March 20th thereafter through March 20, 2027.
• Following the transaction, Cygnar directly owns 15,666 shares of Northwest Bancshares, Inc. Common Stock.
• Cygnar also indirectly owns 13,692.1279 shares through an IRA and 5,627.175 shares through a 401-K.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares by an executive is generally a good sign, but it's a standard RSU grant, so it's not overwhelmingly positive.

Positives

• The acquisition of shares by a company executive can be seen as a positive sign, indicating confidence in the company's future prospects.

Future Outlook

One third of this grant of RSU shares will vest each year beginning March 20, 2025 and on each March 20th thereafter through March 20, 2027.

Industry Context

Executive stock ownership is a common practice in the banking industry to align management's interests with those of shareholders.

Stakeholder Impact

• The increased share ownership by an executive could positively influence shareholder confidence.

Key Dates