Company: BOKF
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000875357-25-000020
Chunk: 23

Company: BOK FINANCIAL CORP
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 23
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 to the senior executive officers who participate in the Company’s Executive Incentive Plan (referred to as the “Executive Incentive Plan” or the “Plan”). The Committee receives guidance from the Chief Executive Officer (the “CEO”), who assists in evaluating employee performance, recommending business performance targets and objectives, and suggesting salary levels and awards for executives (other than himself).

Throughout this Proxy Statement, the Company's CEO, Chief Financial Officer (the "CFO"), and the three most highly compensated executive officers other than the CEO and CFO who were serving as executive officers at the end of the last completed fiscal year are referred to as the “named executives,” the “named executive officers" or the "NEOs."

#### 2024 Executive Compensation Summary
During 2024, the Compensation Committee held robust succession planning discussions as the Company planned for executive retirements. The conversations covered potential successors for each member of the executive leadership team, including the CEO, as well as potential successors for each of the executive leaders' direct reports. During the second half of 2024, two executive retirements were announced, and two new executives will join the executive leadership team in 2025, according to the Company's established succession plan. The Committee remains focused on approving consistent yet competitive compensation for all executives assuming new positions.

In early 2024, the Committee began discussions with management related to the effectiveness of the Company's long-term incentive program, noting that the performance-based component of the long-term awards, including 100% of the CEO's long-term award, had been forfeited each of the last two years, i.e., performance periods ending December 31, 2022, and December 31, 2023. Management indicated that the long-term incentive program remained effective, however, they also noted that the legacy peer group methodology was the primary driver of consecutive zero-payout years. The previous peer group methodology returned a narrow set of peer institutions, which was further narrowed due to merger and acquisition activity in the industry. Management provided that once the new peer group was in effect, beginning with the performance period ending December 31, 2025, the challenges associated with the long-term incentive plan

<div align='center'>BOK Financial Corporation | 31</div>

should be alleviated. After consideration, the Committee made no changes to the long-term incentive plan, but approved a special, one-time award granted to management in recognition of strong Company performance, which was not reflected in the long-term incentive plan payouts. This one-time award