PROSPERITY BANCSHARES INC
For the period ended Mar 11, 2026. Filed Mar 16, 2026.
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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.
Mar 11, 2026 · Filed Mar 16, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐
Check the appropriate box:
☐ Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒ Definitive Proxy Statement
☐ Definitive Additional Materials
☐ Soliciting Material Pursuant to §240.14a-12
Prosperity Bancshares, Inc.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
☒ No fee required.
☐ Fee paid previously with preliminary materials.
☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
Prosperity Bank Plaza
4295 San Felipe
Houston, Texas 77027
NOTICE OF 2026 ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON TUESDAY, APRIL 21, 2026
Shareholders of Prosperity Bancshares, Inc.:
The 2026 Annual Meeting of Shareholders (the “Meeting”) of Prosperity Bancshares, Inc. (the “Company”) will be held at the East Lawn Board Room of Prosperity Bank at 80 Sugar Creek Center Boulevard, Sugar Land, Texas 77478, on Tuesday, April 21, 2026, beginning at 10:00 a.m. (local time), for the following purposes:
To elect four directors of Class I to serve on the Board of Directors of the Company until the Company’s 2029 annual meeting of shareholders, and each until their successors are duly elected and qualified or until their earlier resignation or removal;
To ratify the appointment of Deloitte and Touche LLP as the independent registered public accounting firm of the Company for the year ending December 31, 2026;
To conduct an advisory (non-binding) vote regarding the compensation of the Company’s named executive officers (Say-On-Pay); and
To transact such other business as may properly come before the Meeting or any adjournment thereof.
The close of business on March 2, 2026 has been fixed as the record date for the determination of shareholders entitled to notice of and to vote at the Meeting or at any adjournments thereof. A list of shareholders entitled to vote at the Meeting will be available for inspection by any shareholder at the principal office of the Company during ordinary business hours for a period of at least ten days prior to the Meeting.
By order of the Board of Directors,
David Zalman
Senior Chairman of the Board
March 16, 2026
Houston, Texas
Your Vote is Important.
You are cordially invited and urged to attend the Meeting. Whether or not you plan to attend the Meeting, please vote by completing, signing and dating the enclosed proxy card and promptly mailing it in the enclosed envelope or submit it via the Internet or by telephone pursuant to the instructions provided on the enclosed proxy card. The proxy is revocable in the manner described in the proxy statement at any time before it is exercised at the Meeting. If you attend the Meeting, you may vote in person if you wish, even if you have previously returned your proxy card or submitted your vote via the Internet or by telephone.
TABLE OF CONTENTS
| Page | ||
|---|---|---|
| ABOUT THE MEETING | 2 | |
| ITEM 1. ELECTION OF DIRECTORS | 7 | |
| Election Procedures; Term of Office | 7 | |
| Skills Matrix | 8 | |
| Nominees for Election | 9 | |
| CONTINUING DIRECTORS AND EXECUTIVE OFFICERS | 11 | |
| Executive Officers of the Company | 14 | |
| CORPORATE GOVERNANCE | 16 | |
| Board Leadership Structure | 16 | |
| Meetings of the Board | 16 | |
| Executive Sessions of the Board | 16 | |
| Board Oversight of Risk Management | 16 | |
| Committees of the Board | 17 | |
| Governance Features and Enhancements | 19 | |
| Director Nominations Process | 20 | |
| Communications with Directors | 22 | |
| Director Attendance at Annual Meeting | 22 | |
| Code of Ethics | 22 | |
| Director Independence | 22 | |
| Environmental and Social Practices | 23 | |
| DIRECTOR COMPENSATION | 25 | |
| EXECUTIVE COMPENSATION AND OTHER MATTERS | 27 | |
| Compensation Discussion and Analysis | 27 | |
| Board Compensation Committee Report on Executive Compensation | 34 | |
| Summary Compensation Table | 35 | |
| Grants of Plan-Based Awards | 37 | |
| Outstanding Equity Awards | 38 | |
| Stock Vested | 39 | |
| Potential Payments upon Termination or Change in Control | 39 | |
| CEO Pay Ratio Disclosure | 42 | |
| Compensation Committee Interlocks and Insider Participation | 43 | |
| Pay versus Performance | 44 | |
| AUDIT COMMITTEE REPORT | 49 | |
| FEES AND SERVICES OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 50 | |
| CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 51 | |
| BENEFICIAL OWNERSHIP OF COMMON STOCK BY MANAGEMENT OF THE COMPANY AND PRINCIPAL SHAREHOLDERS | 52 | |
| ITEM 2. PROPOSAL TO RATIFY APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 54 | |
| ITEM 3. ADVISORY VOTE ON EXECUTIVE COMPENSATION | 55 | |
| DATE FOR SUBMISSION OF SHAREHOLDER PROPOSALS FOR 2027 ANNUAL MEETING | 56 | |
| COSTS OF PROXY SOLICITATION | 57 | |
| OTHER MATTERS | 57 | |
i
Prosperity Bank Plaza
4295 San Felipe
Houston, Texas 77027
PROXY STATEMENT
FOR
2026 ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON TUESDAY, APRIL 21, 2026
Unless the context otherwise requires, references in this Proxy Statement to “we,” “us,” “our,” “our company,” “the Company” or “Prosperity” refer to Prosperity Bancshares, Inc., a Texas corporation, and its consolidated subsidiaries as a whole; references to the “Bank” refer to Prosperity Bank (a wholly-owned subsidiary of Prosperity Bancshares, Inc.). In addition, unless the context otherwise requires, references to “shareholders” are to the holders of our voting securities, which consist of Prosperity Bancshares, Inc. common stock, par value $1.00 per share (“Common Stock”).
This Proxy Statement is being furnished in connection with the solicitation of proxies by the Board of Directors of the Company (the “Board”) for use at the 2026 Annual Meeting of Shareholders of the Company to be held at the East Lawn Board Room of Prosperity Bank at 80 Sugar Creek Center Boulevard, Sugar Land, Texas, on Tuesday, April 21, 2026, beginning at 10:00 a.m. (local time), and any adjournments thereof (the “Meeting”) for the purposes set forth in this Proxy Statement and the accompanying Notice of 2026 Annual Meeting of Shareholders (the “Notice of Meeting”). This Proxy Statement, the Notice of Meeting and the enclosed proxy will first be sent to shareholders on or about March 16, 2026.
IMPORTANT NOTICE REGARDING AVAILABILITY OF PROXY MATERIALS FOR THE 2026
ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON TUESDAY, APRIL 21, 2026
Pursuant to rules promulgated by the Securities and Exchange Commission (“SEC”), the Company is providing access to its proxy materials both by sending you this full set of proxy materials and by notifying you of the availability of its proxy materials on the Internet. You may access the following information athttps://www.proxydocs.com/PB, which does not have “cookies” that identify visitors to the site:
Notice of 2026 Annual Meeting of Shareholders to be held on Tuesday, April 21, 2026;
Proxy Statement for 2026 Annual Meeting of Shareholders to be held on Tuesday, April 21, 2026;
Form of Proxy; and
Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.