Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 92

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 92
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 for new credits, bank operations matters and vendor contract management. In view of these considerations, the Compensation Committee approved a plan-based discretionary bonus for Mr. Wohl in the amount of $72,200 (which represents 20% of his base salary in effect as of March 1, 2024).

As a result of the combination of these items, the Compensation Committee awarded Mr. Wohl an aggregate objective incentive award and plan-based discretionary bonus equal to $140,790 for 2024, which represents a cumulative total of 39% of his base salary in effect as of March 1, 2024. This compared to an aggregate amount of 45% of base salary for 2023 (which amount included a one-time supplemental discretionary bonus).

Incentive and Bonus Compensation for our NEOs for 2025.The Compensation Committee continues to review the annual incentive and bonus compensation arrangements for its named executive officers.

Effective for fiscal year 2025, the annual objective incentive compensation for which our NEOs are eligible is expected to be based upon net profit after tax, average total loans, average demand deposits, operating expenses and the other factors enumerated in the “Table of Performance Measures” above.

Effective for fiscal year 2025, the annual plan-based discretionary bonus compensation for which our NEOs are eligible is expected to be awarded on a subjective basis, utilizing criteria and percentage ranges similar to those set forth above in the discussion of “2024 Plan-based Discretionary Bonus Awards” above.

Equity-Based Compensation

All equity awards made by the Compensation Committee during our 2024 fiscal year were issued pursuant to the terms of our 2018 Equity Incentive Plan, some of the key terms of which are described below in the section of this proxy statement on “Equity Compensation Plan Information.” In determining the number and mix of incentive awards to be awarded to an executive officer, the Compensation Committee considers (i) the number of incentive awards previously granted to such executive officer, (ii) its own analysis of the executive’s contribution to CVB Financial Corp., including an assessment of the executive’s responsibilities and performance, (iii) whether the terms of the award would support the achievement of the Company’s strategic or financial goals, (iv) the number of incentive awards granted to executives with similar responsibilities at our peer group banks and bank holding companies, and (v) the projected percentage such incentive compensation would constitute of each executive’s overall compensation.

The Compensation Committee’s goal is generally to utilize an appropriate mix of stock options, restricted stock