Company: UMBFO
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001193125-25-054504
Chunk: 48

Company: UMB FINANCIAL CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 48
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 and aids in preventing directors and Executive Officers from subjecting themselves to an actual or potential conflict of interest with UMB or creating the appearance of such a conflict. Clawback of Compensation UMB has established a clawback policy (the “ Clawback Policy”) that provides for the mandatory recoupment of erroneously awarded incentive-based compensation received by current and former executive officers in the event that UMB is required to prepare an accounting restatement due to material noncompliance of the Company with any financial reporting requirement under applicable securities laws or that would result in a material misstatement if the error were not corrected in the current period or left uncorrected in the current period. The Clawback Policy also provides for a discretionary recoupment from all recipients in instances of illegal, dishonest, fraudulent or intentional misconduct that materially contributes to the Company erroneously awarding the incentive compensation. The Clawback Policy complies with SEC regulations and Rule 5608 of the listing standards. Say-on-PayAdvisory Vote The Compensation Committee considered the results of the non-binding say-on-payadvisory vote that was held at our 2024 annual meeting of shareholders. The compensation paid to our NEOs at that time was overwhelmingly approved, with 97.1% of the votes represented being in favor. The Compensation Committee has interpreted this vote as an endorsement of our executive compensation principles adopted by the Compensation Committee the “ Executive Compensation Principles” and the overall design and structure of our executive compensation program and maintained these principles and our executive compensation program in 2024. The shareholders will again consider a non-binding say-on-payadvisory vote at the Annual Meeting ( see Proposal #2). Following the Annual Meeting, the Compensation Committee will consider the results of the shareholder vote when making future compensation decisions. Performance Units Certified in January 2025 as Having Vested under the 2022 Long-Term Program In February 2022, the Compensation Committee approved the performance metrics for the issuance of Performance Units that were based 50% on a target 3-yearEPS (2022, 2023, and 2024) of $23.26 and 50% on the Company’s average Adjusted ROTCE target of 10.80% over the 3-yearperformance period. The threshold, target and maximum payouts of the 2022 Performance Units are the same threshold, target, and maximum payouts which were used under the 2024 Long-Term Program described previously in this Proxy Statement in the table entitled “ 2024 Long-Term Payouts