FULTON FINANCIAL CORP
For the period ended May 20, 2024. Filed Apr 1, 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 20, 2024 · Filed Apr 1, 2024
Contents
Elements of Our Executive Compensation Program
Our executive compensation program currently provides for a mix of base salary, VCP Awards and long-term equity-based incentive awards (“LTI Awards”). The HR Committee reviews these components and the effectiveness of our compensation program annually. The HR Committee generally targets a range around the median of our peer group for positioning target total direct NEO compensation. The purpose and key characteristics of each element of our executive compensation program are as follows:
| 2023 CEO Actual Direct Compensation | Average Other NEOs Actual Direct Compensation | Purpose and Key Features |
|---|
Base Salary
Purpose: Attract, motivate and retain NEOs. Key Feature: Base salary based on NEO’s position, experience, responsibilities and performance.
Annual Cash Incentive Awards – VCP Awards
Purpose: Reward NEOs for the achievement of certain short-term financial, risk management and business goals. Key Feature: Reward NEOs for performance relative to the goals contained in our VCP scorecard.
Equity Awards – LTI Awards
Purpose: Focus NEOs’ attention on delivering long-term performance results that increase shareholder value. Key Feature: Reward NEOs for our relative TSR performance while maintaining baseline profitability.
All Other Compensation
Purpose: Attract and retain NEOs.
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