HORIZON BANCORP INC IN
For the period ended May 2, 2024. Filed Mar 18, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 2, 2024 · Filed Mar 18, 2024
Contents
2023 Compensation Program
The Compensation Committee sets the compensation of all named executive officers of Horizon, including that of the Chief Executive Officer. Compensation is composed of several segments, including base salary, short-term incentives, and long-term incentives. The Compensation Committee compares all executive compensation, including that of the Chief Executive Officer, to the compensation paid to persons holding the comparable position in similar financial institutions.
In determining the 2023 compensation for the Chief Executive Officer, Chief Financial Officer and other top officers, the Compensation Committee relied in part upon on the analysis provided by the 2022 FW Cook report delivered in December 2022, just as the Compensation Committee will use the 2023 FW Cook report delivered in December 2023 as part of its consideration of executive compensation for 2024. The Compensation Committee’s review included a study of base pay, bonus, and long-term compensation.
Horizon’s peer group for purposes of the 2022 FW Cook report included the following companies:
| 1st Source Corporation | German American Bancorp, Inc. | Old Second Bancorp, Inc. |
|---|---|---|
| (South Bend, IN) | (Jasper, IN) | (Aurora, IL) |
| Byline Bancorp | Great Southern Bancorp | Park National Corporation |
| (Chicago, IL) | (Springfield, MO) | (Newark, OH) |
| Community Trust Bancorp | Independent Bank Corporation | Peoples Bancorp |
| (Pikeville, KY) | (Ionia, MI) | (Marietta, OH) |
| City Holding Company | Lakeland Financial | Premier Financial Corp. |
| (Charleston, WV) | (Warsaw, IN) | (Defiance, OH) |
| Enterprise Financial Services Corp. | Mercantile Bank | QCR Holdings |
| (Clayton, MO) | (Grand Rapids, MI) | (Moline, IL) |
| First Busey Corporation | Midland States Bancorp | Stock Yards Bancorp, Inc. |
| (Champaign, IL) | (Effingham, IL) | (Louisville, KY) |
| First Mid Bancshares, Inc. | MidWestOne Financial Group, Inc. | |
| (Mattoon, IL) | (Iowa City, IA) |
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