Company: UMBFO
Filing Date: 2025-02-03
Form Type: S-8
Source: 0000950103-25-001331
Chunk: 1

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-03
Form: S-8
Chunk 1
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2)(B) of the Securities Act. ☐

<div align='center'>EXPLANATORY NOTE</div>

UMB Financial Corporation (“”
or the “”), is filing this registration statement on Form S-8 (this “”)
to register up to 1,130,132 shares of its common stock, par value $1.00 per share (“”), issuable pursuant
to outstanding and unvested awards of restricted stock units, performance stock units and stock options granted under the Heartland Financial
USA, Inc. 2020 Long-Term Incentive Plan and the Heartland Financial USA, Inc. 2024 Long-Term Incentive Plan (the “”), which awards were assumed by the Registrant in connection with completion of the transactions contemplated by the Agreement
and Plan of Merger (the “”), dated as of April 28, 2024, by and among the Registrant, Blue Sky Merger
Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of the Registrant (“”), and Heartland
Financial USA, Inc., a Delaware corporation (“”), pursuant to which, (a) Merger Sub merged with and into HTLF (the
“”) with HTLF being the surviving corporation (the “”) and (b) immediately
following the Merger and as part of a single, integrated transaction, the Registrant caused the Surviving Entity to be merged with and
into the Registration (the “” and together with the Merger, the “”) so
that the Registrant was the surviving corporation in the Second Step Merger.

Registrant Replacement Awards

In accordance with the terms of the Merger Agreement,
at the effective time of the Mergers (the “”), each award of restricted stock units, performance stock
units and stock options granted under the HTLF Stock Plans that was (i) outstanding and unvested and (ii) not held by a former employee,
officer, director or other service provider of HTLF as of immediately prior to the Effective Time (the “”)
was assumed by the Registrant and converted into an award of restricted stock units, performance stock units and stock options (each,
respectively, a “”, “” and “”) respectively,
with respect to UMB Common Shares, subject to the same terms and conditions (including the requirement to perform continued services to
satisfy applicable time-based vesting conditions, subject to any accelerated vesting on a qualified termination of the holder’s
employment following the