Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 102

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 102
---
2 reflect the plan-based discretionary awards made to each of our NEOs pursuant to their respective 2024 Performance Compensation Plans. For 2023, the amounts shown in column (d) reflect the plan-based discretionary awards made to each of our NEOs pursuant to their respective 2023 Performance Compensation Plans, plus a supplemental discretionary bonus made to each of our NEO’s, as described in the section of our 2024 proxy statement on “2023 Supplemental Discretionary Bonus Awards.”

For our 2024 fiscal year, the amounts of the respective stock awards shown in column (e) are described in detail in the section of the proxy statement on “Equity-Based Compensation.” Each of the specified equity awards for our five NEOs for 2024, 2023 and 2022, was in turn equally divided (50%/50%) between PRSUs and Time RSUs, and the dollar amounts disclosed with respect to the PRSU grants made to each such NEO reflects the number of PRSUs to be granted based on performance at target levels under the performance criteria applicable to the vesting of such PRSUs.

Pursuant to SEC regulations regarding the valuation of equity awards, all amounts listed in columns (e) and (f) represent the applicable full grant date fair values of stock awards and stock options in accordance with FASB ASC Topic 718, excluding the effect for forfeitures, and including the value of dividends and dividend equivalents to be paid on unvested shares of restricted stock, Time RSUs and PRSUs. For each of our NEOs, the grant date fair value received in 2024 is based on the sum of the target number of shares awarded (in the case of PRSUs), and the number of shares awarded (in the case of the Time RSUs), as applicable, times the per share closing price of the Company’s common stock on the grant date of January 24, 2024, which was $18.98. The amounts reflected in the table correspond to our accounting expense and do not correspond to actual value that will be realized by the NEOs. For additional information on valuation assumptions in connection with our equity grants, refer to the Note on “Stock Option Plans and Restricted Stock Awards” in the financial statements filed with our Annual Report on Form 10-K for the respective year end.

The amounts shown in column (g) for 2024 reflect the incentive compensation awards made to each of our NEOs, pursuant to the objective factors enumerated in their respective