Company: UBCP
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023904
Chunk: 23

Company: UNITED BANCORP INC /OH/
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 23
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 Stock Incentive Plan (the “2018 Plan.”). As of December 31, 2024, 301,790 awards have been granted under the 2018 Plan. The Corporation also has a 401(k), and an employee stock ownership plan and a defined benefit pension plan. In making its decisions regarding annual salary adjustments, the committee reviews quantitative and qualitative performance factors as part of an annual performance appraisal. These are established for each executive position and the performance of the incumbent executive is evaluated annually against these standards. This appraisal is then integrated with market-based adjustments to salary ranges to determine if a base salary increase is merited. The accounting and tax treatment of particular forms of compensation do not materially affect the committee’s compensation decisions. However, the committee evaluates the effect of such accounting and tax treatment on an ongoing basis and will make appropriate modifications to its compensation policies where appropriate. Components of Compensation . The elements of total compensation paid by the Corporation to its senior officers, including the Chief Executive Officer (the “CEO”) and the other executive officers identified in the Summary Compensation Table which appears following this Compensation Overview (referred to collectively herein as the “Named Executive Officers”), include the following: • Base salary; 24 • Awards under our cash and stock-based incentive compensation programs; • Awards under our 401(k); and • Benefits under our life, health and disability plans. Base Salary . The base salaries of the Named Executive Officers are reviewed by the Committee annually as well as at the time of any promotion or significant change in job responsibilities. The committee reviews peer group data to establish a market-competitive executive base salary program, combined with a formal performance appraisal system that focuses on awards that are integrated with strategic corporate objectives. To establish base salary for 2024, the Committee reviewed the Ohio Bankers League Compensation & Benefits Survey report and the American Banker’s Compensation Survey & Benefits Survey report for Salary income for each Named Executive Officer for calendar year 2024 is reported in “Salary” column of the Summary Compensation Table, which appears following this Compensation Overview. The base salary amounts shown in the Summary Compensation Table include directors fees paid in 2024 for service as a director of United Bancorp or its subsidiary bank in the following amounts for executive officers: Incentive Cash Compensation . United Bancorp has established a short-term incentive compensation plan that provides for cash awards upon the achievement of performance targets established for each executive officer. The cash-based plan is designed to reward achievement of short-term performance goals. For 2024, the Compensation Committee selected