Company: UMBFO
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001193125-25-054504
Chunk: 68

Company: UMB FINANCIAL CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 68
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 |     |                   |  $(423 | ) |     |                 | $1,293,253 |
| RSUs        |     |                      |  $ 354,098 |     |                 |  $ 91,940 |     |                   | $1,551 |   |     |                 |  $ 447,590 |
| Total       |     |                      | $1,388,083 |     |                 |  $351,632 |     |                   | $1,127 |   |     |                 | $1,740,842 |

| (3) | Reflects the total shareholder return of the S&P U.S. BMI Banks Index. |

As illustrated by the tables above, the fluctuations in the Company’s stock price significantly impacts the CAP. While the Company’s stock price should increase or decrease in tandem with the Company’s performance, that is not always the case. Many factors can impact the Company’s stock price which may not be directly, indirectly or related at all to the Company’s performance including, and without limitation, trading volume in the Company’s common stock, the individual decisions of investors, geopolitical considerations, general economic and market conditions, and the impact of banking, antitrust or corporate laws, over which neither the Company nor any of the NEOs have control.

Description of Correlation Between CAP and Each of Total Shareholder Return, Net Income and Core PPNR 60

As shown in the chart below, from 2020 through 2022 the Company’s net income had steadily increased while the PEO’s and other NEOs’ CAP varied significantly each year. This is due in large part to the increased granting of equity awards that are sensitive to changes in the Company’s stock price from 2020 through 2022. In 2023 the Company’s net income decreased. However, CAP increased slightly year-over-year mainly due to the increase in the Company’s stock price from calendar year-end 2022 to the date on which certain awards vested in 2023. In 2024, CAP increased significantly over 2023 in line with the increase in the Company’s stock price during 2024. Additionally, STIP compensation paid as a percentage of base salary was higher than 2023, in tandem with the Company’s favorable financial performance in 2024. 61 The Company’s Core PPNR is similar to net income in that the amount is calculated by taking the Company’s net income prior to any provision for loan losses and adjusted by the