Company: FCAP
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001104659-25-033880
Chunk: 19

Company: FIRST CAPITAL INC
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 19
---
 her own non-forfeitable interest in the Bank’s tax-qualified plans. The tax-qualified benefits are distributed in accordance with each executive’s distribution election. All payments due under the employment agreements are guaranteed by First Capital. All reasonable costs and legal fees incurred by an executive under any dispute or question of interpretation relating to the employment agreements will be paid by First Capital, if the executive is successful on the merits in a legal judgment, arbitration or settlement. Potential Payments Upon Termination or Change in Control None of our executive officers are subject to any employment agreement which would entitle them to any payment upon termination of employment, absent a change in control. As is more fully described below, all of the NEOs were subject to change in control agreements with us that were in effect on December 31, 2024, unless otherwise noted below (each, a “Change in Control Agreement”), which provide for payments and benefits to our executive officers following a change in control of First Capital, Inc. and termination of the executive officer’s employment within twelve (12) months (a “Change in Control Termination”). The following table sets forth information concerning potential payments and benefits to which our executive officers would be entitled as of December 31, 2024 in the event of a Change in Control Termination. For purposes of estimating the value of certain equity awards, we have assumed a price per share of our common stock of $32.25, which was the closing price of our stock on December 31, 2024, the last trading day of the year.

|                  |     | Frederick |           |     | Stevens |         |     | Mahuron |         |
|:-----------------|:----|:----------|----------:|:----|:--------|--------:|:----|:--------|--------:|
| Salary           |     | $         |   789,434 |     | $       | 622,000 |     | $       | 435,400 |
| Bonus (1)        |     |           |   181,808 |     |         | 158,410 |     |         | 130,420 |
| Benefits (2)     |     |           |    19,463 |     |         |  10,094 |     |         |  24,728 |
| Stock Awards (3) |     |           |    16,931 |     |         |   9,675 |     |         |  14,513 |