Northwest Bancshares CEO Ronald Seiffert's 2021 pay rises 8% to $1.7M
Northwest Bancshares reports 2021 executive compensation
By ExecPay News
Published: March 10, 2022
Northwest Bancshares reported fiscal year 2021 executive compensation information on March 10, 2022.
In 2021, five executives at Northwest Bancshares received on average a compensation package of $922K, a 3% increase compared to previous year.
Average pay of disclosed executives at Northwest Bancshares
Ronald J. Seiffert, Chief Executive Officer, received $1.7M in total, which increased by 8% compared to 2020. 48% of Seiffert's compensation, or $805K, was in salary. Seiffert also received $511K in bonus, $138K of change in pension value and nonqualified deferred compensation earnings, $15K in option awards, $181K in stock awards, as well as $38K in other compensation.
For fiscal year 2021, the median employee pay was $41,624 at Northwest Bancshares. Therefore, the ratio of Ronald J. Seiffert's pay to the median employee pay was 41 to one.
William W. Harvey, Jr, Chief Financial Officer, received a compensation package of $865K, which decreased by 20% compared to previous year. 56% of the compensation package, or $484K, was in salary.
Louis J. Torchio, Senior Executive Vice President, Retail Lending, earned $723K in 2021, a 10% increase compared to previous year.
John J. Golding, Senior Executive Vice President, Consumer and Business Banking, received $675K in 2021, which increases by 7% compared to 2020.
Mark T. Reitzes, Senior Executive Vice President, Commercial Banking, earned $659K in 2021, a 18% 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 10, 2022.