Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 104

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 104
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 maximum payouts which could be earned by each of our NEOs, based upon the applicable percentage of his base salary level in effect on the date specified in his respective 2024 Performance Compensation Plan, by calculating the incentive compensation to be awarded to such executive under the objective factors set forth in his respective Performance Compensation Plan, as described in the section of this proxy statement on “Compensation Discussion and Analysis.” These threshold, target and maximum amounts are on an aggregate basis for all performance criteria; differing levels of performance can be achieved for each performance criteria, resulting in overall payouts between performance levels or below threshold. However, these threshold, target and maximum amounts do not include the separate components of each executive’s compensation for 2024 that were based on subjective criteria and are considered to have been made on a fully discretionary basis. See the section of this proxy statement above on “Annual Performance Compensation Plans (Incentive Compensation and Plan-based Discretionary Bonus Amounts)” for more specific information about the plan-based discretionary bonus awards provided to our President and CEO and to each of our other NEOs for our 2024 fiscal year.

The “Estimated Possible Payouts Under Equity Performance Incentive Plan Awards” column in this Table includes the 50% portion of the equity grant received by each executive for 2024 in the form of PRSUs. The specific criteria and performance period governing the vesting of each of the PRSU equity grants made to our NEOs who received such grants in 2024, at threshold, target and maximum levels, are identical and are discussed in detail in the section of this proxy statement above on “PRSU Performance Criteria and Measurement Period.”

The “All Other Stock Awards” column in this Table includes the 50% portion of the equity grant received by each executive for 2024 in the form of Time RSUs.

For information on equity grant 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 the applicable year end. In the case of restricted stock shares or units that are subject to time-based vesting, the fair value is computed as the target number of shares, within the range specified in the award, multiplied by the closing price of our stock on the date of grant. For 2024, all equity grants to our NEOs were made on January 24, 2024, and the closing price of our stock on such date was $18.98.

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