Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 78

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 78
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150% of the target amount. See the two tables below in this proxy statement on Performance Measures and Payout Levels.

With respect to the CEO’s potential discretionary bonus award, the available amount is set at between 0% and 30% of the CEO’s annualized base salary. The final amount is determined by the Compensation Committee based on an enumerated set of subjective and qualitative individual performance measures. See the section of this proxy statement below on “2024 Plan-based Discretionary Bonus Awards.”

Similar to the CEO Plan, the objective incentive compensation and plan-based discretionary bonus opportunities for our four other NEOs (Messrs. Nicholson, Farnsworth, Harvey and Wohl) are governed by our Executive Performance Compensation Plan for 2024 (“ECP Plan”). Under the ECP Plan, these four NEOs may earn from 0% to 60% of their respective base salaries as incentive compensation, depending on the achievement of five objective financial or operational metrics, which may differ by position. The ECP Plan then likewise provides for a separate, plan-based discretionary bonus opportunity for each of these four NEOs, in an amount ranging from 0% to 20% of his respective base salary, based upon an enumerated set of subjective and qualitative individual performance measures which, again, may differ by position for each such NEO. Mr. Brager's percentage opportunities in connection with his incentive compensation and discretionary bonus under his CEO Plan are larger in recognition of the plenary scope of his responsibilities compared to our four other NEOs.

With respect to the plan-based discretionary bonus amounts awarded to each of our NEOs for 2024, the amounts available to be earned by our President and CEO and our other four continuing NEOs depended upon a list of subjective and qualitative performance measures that the Committee believed to be appropriate for each applicable position. As noted above, this plan-based subjective and qualitative individual bonus opportunity is discretionary and is evaluated differently than the objective incentive awards paid under the Executive Incentive Plan. The Compensation Committee believes this subjective individual bonus opportunity for each of our continuing NEOs is important to (i) encourage and incentivize our key Company leaders to exercise their general management and teamwork skills as well as (ii) ensure consistency in the application of this evaluative factor across each of our NEO’s respective compensation programs. The Compensation Committee takes each executive’s individual job performance into account in determining whether and in what amounts to make any annual plan-based

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discretionary bonus awards, so that our President and CEO and each of our