Company: UBCP
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023904
Chunk: 36

Company: UNITED BANCORP INC /OH/
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 36
---
 his or her account. When a participant ceases to be a member of the Board or an Officer, the Corporation shall pay him or her in equal annual installments or at his irrevocable election, in one lump sum, the aggregate number of shares of United Bancorp, Inc. Common Stock, (including, without limitation shares deemed to be acquired through reinvested dividends) that are credited to his or her account as of the close of business on the date of the termination of his membership on the Board or termination of his or her as an Officer of the Corporation, together with any cash 34 account balance which has not yet been deemed invested in United Bancorp, Inc. Common Stock. The annual installment payment option shall be over a period not to exceed ten years. Policies and Practices Related to the Grant of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information As indicated above in the discussion of the Awards Program, restricted stock awards are generally granted annually on fixed dates determined in advanceby the Compensation Committee as a routine part of its annual executive compensation review and adjustment practices. On limited occasions, the Compensation Committee may grant equity awards outside of our annual grant cycle for new hires, promotions, recognition, retention, or other purposes. Our Compensation Committee approves all equity award grantson or before the grant date and does not grant restricted stock awards in anticipation of the release of material nonpublic information. Similarly, the Compensation Committee does not time the release of material nonpublic information based on restricted stock award grant dates. Compensation Recoupment (Clawback) Policy In 2023, the Board of Directors amended the United Bancorp, Inc. and Subsidiaries Amended Code of Ethics and Business Conduct to include a policy regarding the recoupment of incentive compensation (the “Clawback Policy”), which is designed to comply with Section 10D-1 of the Exchange Act and the applicable listing standards of Nasdaq. The Clawback Policy requires the Corporation to recoup erroneously awarded incentive-based compensation received by each current or former executive officer of the Company, as determined by the Board in accordance with the definition in Section 10D of the Exchange Act, in the event the Corporation is required to prepare an accounting restatement due to its material noncompliance with any financial reporting requirement under the securities laws. The Clawback Policy generally applies to all cash-based or equity-based incentive compensation, bonus and/or awards received by a covered officer that is or was based, wholly or in part, upon the attainment of any