Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 109

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 109
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 that were reported as compensation to Mr. Brager in the Company’s Summary Compensation Table for prior years. Of the amount included in column (f) for Mr. Nicholson, $509,977 represents aggregate contributions that were reported as compensation to Mr. Nicholson in the Company’s Summary Compensation Table for prior years. Of the amount included in column (f) for Mr. Farnsworth, $27,740 represents aggregate contributions that were reported as compensation to Mr. Farnsworth in the Company’s Summary Compensation Table for prior years. Of the amount included in column (f) for Mr. Harvey, $259,634 represents aggregate contributions that were reported as compensation to Mr. Harvey in the Company’s Summary Compensation Table for prior years.

Potential Payments to our Named Executive Officers Upon Termination or Change in Control

As noted above in the separate sections of this proxy statement on “Compensation Arrangements with our President and Chief Executive Officer” and “Compensation Arrangements with our Other Named Executive Officers,” we have entered into (i) the 2024 CEO Employment Agreement with our President and CEO, Mr. Brager, and (ii) the 2024 NEO Employment Agreements with each of our other NEOs, Messrs. Nicholson, Farnsworth, Harvey and Wohl, respectively (collectively, the “Employment Agreements”). The 2024 CEO Employment Agreement, on the one hand, and each of the 2024 NEO Employment Agreements, on the other hand, contain severance compensation arrangements whose terms are similar in the event of a change of control of the Company, the death or disability of the executive, or a termination with cause, but whose terms vary in the event of a termination of the executive without cause, in each instance as further described below.

In the case of our CEO and each of our other NEOs, if his employment is terminated without cause by the Company or its successor entity within one year following the occurrence of a “change in control” (as such term is commonly defined in the Employment Agreements), or within 180 days prior to a change in control of CVB Financial Corp. or Citizens Business Bank, or if the CEO or such NEO resigns his employment for “good reason” (as such term is also commonly defined in the Employment Agreements) within one year following a change in control, he would be entitled to receive (i) his base salary earned through the termination date, plus any accrued but unused vacation pay, and (ii) additional payments in an