Company: BCML
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001730984-25-000031
Chunk: 30

Company: BayCom Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 30
---
 award or may earn no bonus at all if the Company’s actual performance is less than 75% of the target performance goal for each performance objective. The Board of Directors, in its sole discretion, may increase or decrease the actual award earned by an executive under the Annual Bonus Plan. An executive must be continuously employed by the Bank for the whole of the fiscal year to which the incentive bonus relates, except that the incentive bonus may be prorated if the executive dies or becomes disabled during the year or if a change in control occurs during the year. The incentive bonus will not be prorated if the executive’s employment terminates for any other reason during such fiscal year.

For 2024, the target annual incentive awards under the Annual Bonus Plan for our NEOs were 70% of base salary for Mr. Guarini and 60% of base salary for Ms. King and Ms. Colwell, with each executive earning 42.2% of their target annual incentive award for 2024. The target performance goals in the Performance Plan for 2024 included objectives regarding loan and deposit growth, credit quality, operating efficiency, strategic initiatives and compliance/risk management practices. No adjustments up or down were made by the Bank’s Board of Directors to the 2024 annual cash incentives earned by the NEOs. The annual cash incentives awarded for 2024 performance are reflected under the “Non-equity incentive plan compensation” column in the Summary Compensation Table above.

For 2023, the target annual incentive awards under the Annual Bonus Plan for our NEOs were 70% of base salary for Mr. Guarini and 60% of base salary for Ms. King and Ms. Colwell, with each executive earning 36.2% of their target annual incentive award for 2023. The target performance goals in the Performance Plan for 2023 included objectives regarding loan and deposit growth, credit quality, operating efficiency, strategic initiatives and compliance/risk management practices. No adjustments up or down were made by the Bank’s Board of Directors to the 2023 annual cash incentives earned by the NEOs. The annual cash incentives awarded for 2023 performance are reflected under the “Non-equity incentive plan compensation” column in the Summary Compensation Table above.

In addition to the cash bonuses payable under our Annual Bonus Plan, the level of performance achieved with respect to the performance goals also affects the Company’s annual contributions to the deferred compensation agreements for our three NEOs. No such contributions were made for 2024 and 2023