Company: UVSP
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000102212-25-000009
Chunk: 26

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 26
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 on the Target level of performance as detailed below. The performance-based restricted stock units will vest on March 15, 2027, subject to the Named Executive Officers' continued employment and provided certain performance metrics are met based on the Corporation's performance compared to (i) the S&P United States SmallCap Banks (Industry Group) Index ("Select Peer Group") with respect to three-year average adjusted PTPP-NCO ROAA and (ii) the three-year adjusted PTPP-NCO target as set in the Corporation's strategic plan. No vesting will occur if the three-year average PTPP-NCO ROAA is less than 50 basis points, adjusted for one-time non-recurring gains and losses (e.g., merger charges, restructuring costs, BOLI gains, etc). The Compensation Committee selected these metrics as they link compensation to corporate performance with an emphasis of the overall profitability and credit quality of the Corporation.

Service-based restricted stock units were granted on March 15, 2024 and vest in three equal annual installments beginning on the first anniversary of the date of the grant, subject to the Named Executive Officers' continued employment.

The following table shows the vesting of performance-based awards with more shares vesting if performance exceeds the target level of performance and fewer shares vesting if performance is short of the target level of performance. The target level of performance is defined as ranking in the 50th percentile of PTPP-NCO ROAA performance compared to its Select Peer Group and achieving a targeted cumulative 2024 to 202 PTPP-NCO adjusted for one-time non-recurring gains and losses (e.g. merger charges, restructuring costs, BOLI gains, etc.) both weighted at 50%. The targeted performance level for adjusted PTPP-NCO is aligned with the Corporation's targeted strategic and operating plan for the three-year performance period.

| Amount of Shares Vesting |     | 50% of Target (Threshold) |     | Target          |     | 150% of Target (Optimum) |
| Adjusted PTPP-NCO ROAA   |     | 35th Percentile           |     | 50th Percentile |     | 75th Percentile          |
| Adjusted PTPP-NCO        |     | 80% of Target             |     | Target          |     | 120% of Target           |

On March 15, 2024, the Compensation Committee approved the following grants of performance-based restricted stock units to the Named