Company: UVSP
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000102212-25-000009
Chunk: 29

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 29
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 end of four years of service.

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#### Pension Plan
The Corporation provided the Univest Financial Corporation Retirement Plan, a tax-qualified pension plan, to all employees hired prior to December 8, 2009. Effective December 31, 2009, the benefits previously accrued under the pension plan were frozen and the plan was amended and converted into a cash balance pension plan. For purposes of this proxy statement, we refer to the plan as the "Pension Plan." Mr. Schweitzer and Mr. Keim are the only named executive officers who participate in the Pension Plan. Further information on the Pension Plan can be found under the Pension Benefits Table section of this Proxy Statement.

#### Other Benefits and Perquisites
Compensation for group life insurance premiums, hospitalization and medical plans, and other personal benefits are provided to all full-time employees and part-time employees averaging a certain number of hours and do not discriminate in favor of officers of the Corporation or its subsidiaries.

Certain executive officers, including the Named Executive Officers, receive expense allowances. These perquisites are determined and approved by the Compensation Committee under the same methodologies for and in conjunction with base salary compensation. Univest also provides certain Named Executive Officers with personal tax preparation services. These services are provided by a certified public accounting firm other than Univest's independent registered public accounting firm, KPMG LLP.

### OTHER EXECUTIVE COMPENSATION PRACTICES

#### Stock Ownership Requirements
To reinforce the importance of aligning the financial interests of the Named Executive Officers with those of the shareholders, the Board of Directors maintains minimum stock ownership guidelines for the Named Executive Officers. Below are the minimum required holdings for the Named Executive Officers as of December 31, 2024.

| Executive             |     | Ownership Requirement (Multiple of Base Salary) |
| Jeffrey M. Schweitzer |     | 3.0x                                            |
| Brian J. Richardson   |     | 2.5x                                            |
| Michael S. Keim       |     | 2.5x                                            |
| Megan D. Santana      |     | 2.5x                                            |
| Patrick C. McCormick  |     | 2.0x                                            |

The ownership requirements vary based upon the category of the executive incentive plan in which the Executive Officer is placed. These ownership requirements must be met within five years of entering the plan. If an individual is promoted to a new category, the individual will have three additional years in which to achieve the new ownership requirement