Company: BANFP
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-050087
Chunk: 36

Company: BANCFIRST CORP /OK/
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 36
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 and internal audit goal were fully attained. Accordingly, the Chairman recommended that the Compensation Committee determine that Mr. Schmidt be paid the maximum bonus amount for each goal, which resulted in Mr. Schmidt receiving a total cash incentive bonus for 2024 equal to 20% of his base salary and a 5% deferred bonus that is eligible to be paid in cash at the end of 2027.

Mr. Rainbolt

For 2024, Mr. Rainbolt was eligible for a bonus up to 25% of his base salary, based upon budgeted net income and classified assets to capital for BancFirst, and the results of the internal audits of the BancFirst’s branches, all determined on a Company-wide basis. Each of these factors was weighted, as indicated in the following table:

| Objectives for 2024                        |     | Maximum Percentage 
 of Base Salary     |        |     | 2024 Goal |             |   |     | Actual 2024Performance |             |   |
|:-------------------------------------------|:----|:-------------------|:-------|:----|:----------|------------:|:--|:----|:-----------------------|------------:|:--|
| Budgeted net income for BancFirst          |     |                    | 11.00% |     | $         | 177,416,000 |   |     | $                      | 191,310,000 |   |
| Classified assets to capital for BancFirst |     |                    | 11.00% |     |           |          (1 | ) |     |                        |          (1 | ) |
| Internal audit                             |     |                    | 3.00%  |     |           |          (2 | ) |     |                        |          (2 | ) |

(1) Federal and state banking regulations prohibit us from disclosing information contained in regulatory agency examination reports, such as amounts of classified assets.

(2) Branches are assigned internal scores from 1 to 5, with 1 being the best, based on results of regulatory compliance audits as well as management’s subjective assessment of each branch’s performance in certain other categories, such as information technology, trust and insurance services. The goal is to receive an average score between 1 and 1.50. The maximum incentive compensation of 2% available for the internal audit metric was based on an average score of 1.27, calculated by dividing the total of the scores for all branches by the total number of bank branches