Company: UVSP
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000102212-25-000009
Chunk: 16

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 16
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 operates, and to promote the long-term goals, stability and performance of the Corporation. By doing this, we align the interests of management with those of our shareholders and other stakeholder groups.

• Pay salaries near the 50 th percentile of the market (although exact positioning varies by each individual's experience and responsibilities).

• Award cash incentives and equity incentives near the 50 th percentile of the market when we meet our targeted performance objectives (although exact positioning varies by each individual's experience and responsibilities).

• Support the Corporation's management development and succession plans.

• Align the interests of Named Executive Officers and shareholders through compensation structures that share the rewards and risks of strategic decision-making.

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• Require the Named Executive Officers to acquire substantial levels of ownership of the Corporation's stock to further align Executive Officers' interests with those of the shareholders.

The Compensation Committee considers feedback from our shareholders in making compensation determinations. At the 2024 Annual Meeting, 97% of the votes cast were in favor of our say-on-pay proposal. We view this as a positive endorsement of our pay practices. Even in light of this strong support, we continue to monitor our pay alignment with shareholder interests and seek ways to improve our compensation program.

With information provided by management, the Compensation Committee reviewed the design and operation of our incentive compensation arrangements for all employees, including our Named Executive Officers, to determine whether the arrangements might encourage inappropriate risk-taking that would be reasonably likely to have a material adverse effect on us. The Compensation Committee concluded that our compensation plans, programs and policies, considered as a whole, including applicable risk mitigation features, are not reasonably likely to have a material adverse effect on us.

#### Executive Compensation Components
Our executive compensation consists primarily of these three components:

• Base salary;

• Short-term annual incentive awards; and

• Long-term equity incentive compensation.

As is customary in our industry, we also provide modest levels of perquisites, described later, to our Named Executive Officers and participation in other benefit programs that are generally available to our employees (e.g., health care, disability, life insurance, an employee stock purchase plan and retirement plans). The "Summary Compensation Table" on page 23 provides additional information on these perquisites and benefits.

|   |     | What we do:                                                                                     |     |   |     | What we don't do:                                                                                          |
| ü |     | Align short- and long-term incentive plan targets with business goals and shareholder interests |     | ü |     | Provide excise tax