WSBC WesBanco Inc

Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 1, 2021, Robert H. Young, Senior Executive Vice President, Chief Financial Officer & Group Head – Finance of Wesbanco, Inc. (the “Company”), informed the Company of his intention to retire from employment with the Company effective December 31, 2021. On September 1, 2021, as more fully described below, the Company and Mr. Young entered into a consulting agreement (the “Consulting Agreement”) setting forth the terms of consulting services Mr. Young will provide to the Company following his retirement.  In connection with Mr. Young’s retirement, the Company intends to appoint Daniel K. Weiss, the Company’s Senior Vice President & Chief Accounting Officer, to serve as the Company’s Executive Vice President and Chief Financial Officer effective as of January 1, 2022.

Mr. Weiss, age 39, has served as Senior Vice President & Chief Accounting Officer of the Company since January, 2021 and previously has served as Senior Vice President and Corporate Controller, as well as working in various other roles, including Assistant Controller, since joining the Company in 2008. Prior to joining the Company, Mr. Weiss was employed by Deloitte & Touche LLP, in the audit practice, where he obtained a diverse background working as a public accountant in the financial services, manufacturing, healthcare and retail industries. Mr. Weiss has 17 years of experience and is a licensed Certified Public Accountant.

The Company expects to enter into amended compensatory arrangements with Mr. Weiss in connection with his appointment as Executive Vice President and Chief Financial Officer, the details of which have not been finalized as of the date of this filing.  

There are no arrangements or understandings between Mr. Weiss and any other person pursuant to which Mr. Weiss will be selected as Executive Vice President and Chief Financial Officer.  Mr. Weiss has no family relationships with any other executive officer or director of the Company. Mr. Weiss has not been involved in any related person transactions with the Company that would require disclosure under Item 404(a) of SEC Regulation S-K.

Pursuant to the Consulting Agreement, Mr. Young will provide certain consulting services to the Company between January 1, 2022 and June 30, 2022.  As compensation for the consulting services, Mr. Young will be paid $250,000 and be reimbursed his reasonable expenses.  Mr. Young will also continue to be covered under the Company’s group health and welfare benefit plans through June 30, 2022, with the cost of such coverage to be borne by the Company.  After June 30, 2022, the Consulting Agreement will continue on a month-to-month basis until terminated by either party in accordance with the terms of the Consulting Agreement at the same prorated compensation rate.  The foregoing description of the terms of the Consulting Agreement is qualified in its entirety by reference to the full text of the Consulting Agreement, a copy of which is filed as Exhibit 10.1 hereto and the terms of which are incorporated by reference herein.