Northwest Bancshares CEO Ronald Seiffert's 2020 pay jumps 22% to $1.6M
Northwest Bancshares reports 2020 executive compensation
By ExecPay News
Published: March 12, 2021
Northwest Bancshares reported fiscal year 2020 executive compensation information on March 12, 2021.
In 2020, five executives at Northwest Bancshares received on average a compensation package of $896K, a 23% increase compared to previous year.
Average pay of disclosed executives at Northwest Bancshares
Ronald J. Seiffert, Chief Executive Officer, received $1.6M in total, which increased by 22% compared to 2019. 50% of Seiffert's compensation, or $775K, was in salary. Seiffert also received $486K in bonus, $146K of change in pension value and nonqualified deferred compensation earnings, $3.1K in option awards, $109K in stock awards, as well as $39K in other compensation.
For fiscal year 2020, the median employee pay was $39,263 at Northwest Bancshares. Therefore, the ratio of Ronald J. Seiffert's pay to the median employee pay was 40 to one.
William W. Harvey, Jr, Chief Financial Officer, received a compensation package of $1.1M, which decreased by 1% compared to previous year. 43% of the compensation package, or $468K, was in salary.
Louis J. Torchio, Senior Executive Vice President, Retail Lending, earned $654K in 2020, a 21% increase compared to previous year.
John J. Golding, Senior Executive Vice President, Consumer and Business Banking, received $628K in 2020, which increases by 13% compared to 2019.
Mark T. Reitzes, Senior Executive Vice President, Commercial Banking, earned $556K in 2020, a 242% increase compared to previous year.
Related executives
Ronald Seiffert
Northwest Bancshares
Chief Executive Officer
William Harvey
Northwest Bancshares
Chief Financial Officer
John Golding
Northwest Bancshares
Senior Executive Vice President, Consumer and Business Banking
Mark Reitzes
Northwest Bancshares
Senior Executive Vice President, Commercial Banking
Louis Torchio
Northwest Bancshares
Senior Executive Vice President, Retail Lending
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Source: SEC filing on March 12, 2021.