Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 63

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 63
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     | Purpose                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 Restricted stock and time-vesting RSUs link the interests of recipients to those of our shareholders, by focusing on the long-term value of CVB Financial Corp.’s stock, and have less dilution to our shareholders compared to stock option grants, because restricted stock and RSU grants usually involve fewer shares. Restricted stock and time-vesting RSU awards to our executive officers typically vest over a three or five-year period in order to encourage long-term employment at the Company and/or to support the achievement of long-term Company objectives. |
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| Performance-Vesting RSUs                                             |     | Awarded in most cases annually to selected officers, including our NEOs, and typically awarded in tandem with time-vesting RSUs. The number of shares to be issued upon vesting is tied to the attainment of specific financial or performance-based goals. Recipients of performance-vesting RSUs are also entitled to receive dividends associated with the underlying shares after the date of grant and prior to the date of vesting, although such dividends are paid retroactively, only after the actual number of shares earned under the award is finally determined. |     | Performance-vesting RSUs incentivize an executive to achieve specific financial or other goals, typically over a three-year measurement and vesting period, that are considered to be important to the Company’s overall long-term success.                                                                                                                                                                                                                                                                                                                                    |
| Stock Options (not granted to any of our directors or NEOs for 2024) |     | Recipients must pay an exercise price that is not less than the fair market value of the stock at the time of grant in order to acquire the related shares of stock.                                                                                                                                                                                                                                                                                                                                                                                                           |     | Stock options allow the executive to share in the long-term appreciation of CVB Financial Corp.’s stock. This helps to align the compensation of the executive with the interests of our shareholders. Stock option grants typically vest over a three or five-year period and have a ten-year term.                                                                                                                                                                                                                                                                           |

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| Component                   |     | Characteristics                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |     | Purpose                                                                                                                                                                                                                                                                                                                  |
| 401(k) Plan/Profit Sharing  |     | This Plan has two components: (i) “safe harbor” 401(k) Plan contributions which are paid by CVB Financial Corp. in a fixed percentage for