Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 55

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 55
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      |     | -         |     | 227,998 |
| (Chairman)             |     |             |     |            |     |        |     |           |     |         |
| Kimberly Sheehy        |     |      90,000 |     |     84,998 |     | -      |     | -         |     | 174,998 |

As noted above, for 2024, standard cash compensation levels for our outside directors were as follows: (i) base director fees of $70,000, or $5,833 per month; (ii) an additional stipend of $10,000 for Mr. Del Guercio as the Chair of our Risk Management Committee, for total director fees of $80,000, or $6,667 per month; (iii) an additional stipend of $20,000 for Ms. Sheehy as the Chair of our Audit Committee, for total director fees of $90,000, or $7,500 per month; (iv) total director fees for our Vice-Chairman of $100,000, or $8,333 per month; and (v) total director fees for our Chairman of $143,000, or $11,917 per month.

As noted above, the value of the restricted stock grants to each of our non-employee directors was set at a dollar value of $85,000 for calendar year 2024. Accordingly, the number of shares of CVB Financial Corp. stock awarded to each of our non-employee directors for 2024 was 4899, which is the closest number of whole shares equal to the grant value of $85,000 divided by the per share closing price of our Company’s stock on the grant date, which was $17.35 on May 15, 2024.

Pursuant to SEC regulations regarding the valuation of equity awards, each amount under Restricted Stock Awards and Stock Options Awards represents the applicable full grant date fair values of the restricted stock award or stock option award, as applicable, in accordance with FASB ASC Topic 718, excluding the effect for forfeitures. These amounts correspond to our accounting expense and do not correspond to the actual value that will be realized by the director. For information on the valuation assumptions, 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 2024.

All other compensation represents the value of