Company: BANFP
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-050087
Chunk: 33

Company: BANCFIRST CORP /OK/
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 33
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Mr. Harlow

For 2024, Mr. Harlow was eligible for a bonus of up to 25% of his base salary, based upon budgeted net income and classified assets to capital for BancFirst Corporation, and the results of the internal audits of BancFirst Corporation’s branches, all determined on a Company-wide basis. Each of these factors was weighted, as indicated in the following table:

| Objectives for 2024                                    |     | Maximum Percentage 
 of Base Salary     |        |     | 2024 Goal |             |   |     | Actual 2024Performance |             |   |
|:-------------------------------------------------------|:----|:-------------------|:-------|:----|:----------|------------:|:--|:----|:-----------------------|------------:|:--|
| Budgeted net income for BancFirst Corporation          |     |                    | 11.00% |     | $         | 195,418,000 |   |     | $                      | 216,354,000 |   |
| Classified assets to capital for BancFirst Corporation |     |                    | 11.00% |     |           |          (1 | ) |     |                        |          (1 | ) |
| Internal audit                                         |     |                    | 3.00%  |     |           |          (2 | ) |     |                        |          (2 | ) |

(1) Federal and state banking regulations prohibit us from disclosing information contained in regulatory agency examination reports, such as amounts of classified assets.

(2) Branches are assigned internal scores from 1 to 5, with 1 being the best, based on results of regulatory compliance audits as well as management’s subjective assessment of each branch’s performance in certain other categories, such as information technology, trust and insurance services. The goal is to receive an average score between 1 and 1.50. The maximum incentive compensation of 2% available for the internal audit metric was based on an average score of 1.49, calculated by dividing the total of the scores for all branches by the total number of bank branches.

The budgeted net income goal, classified assets to capital goal and internal audit goal were fully attained. Accordingly, the Chairman recommended that the Compensation Committee determine that Mr. Harlow be paid the maximum bonus amount for each goal, which resulted in Mr. Harlow receiving a total cash incentive bonus for 2024 equal to 20% of his base salary and a 5