Torchio Louis J 4
Research Summary
AI-generated summary
Northwest Bancshares (NWBI) CEO Louis Torchio Withholds 3,450 Shares
What Happened Louis J. Torchio, President & CEO and Director of Northwest Bancshares (NWBI), had 3,450 shares withheld to satisfy tax withholding obligations tied to the vesting of restricted stock units (RSUs). The withholding was recorded at $12.26 per share for a total value of $42,297. This was a tax-withholding disposition (not an open-market sale or a purchase).
Key Details
- Transaction date: 2026-03-16; Filing date: 2026-03-18 (no late filing noted in the provided data).
- Shares withheld/disposed: 3,450 at $12.26 per share; total value $42,297.
- Transaction code: F (payment of exercise price or tax liability). Footnote F1: shares were withheld to satisfy the reporting person's tax withholding obligation upon RSU vesting.
- Shares owned after the transaction: not specified in the provided filing.
Context Share withholding to cover taxes upon RSU vesting is a routine administrative action and typically does not signal a discretionary market-sale by the insider. It reduces the insider’s share count but is performed to meet tax obligations rather than to realize investment gains.