Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 87

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 87
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, increase its customer deposit base and maintain its strong capital ratios throughout the course of 2024. Equally importantly, CVB Financial Corp. declared its 141st consecutive quarterly dividend and achieved a record 191st consecutive quarter of profitability. Additionally, in 2024, S&P Global Market Intelligence ranked CVB Financial Corp. as a Top 50 Best-Performing U.S. Public Bank, Citizens Business Bank was designated as a “Super Premier” Performing Bank by The Findley Reports, and the Company received a Five-Star Superior rating from BauerFinancial, as well as a BBB+ rating from Fitch Ratings. In view of the foregoing considerations, the Committee awarded Mr. Brager a plan-based discretionary bonus in the amount of $237,900 for 2024.

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In summary, Mr. Brager’s aggregate objective incentive award and plan-based discretionary bonus award for 2024 was equal to $924,150 which represents a cumulative total of 101% of his base salary in effect as of July 1, 2024. This compared to an aggregate amount of 90% of base salary for 2023 (which amount included a one-time supplemental discretionary bonus).

Mr. Nicholson’s Annual Bonus.Mr. Nicholson’s incentive compensation and bonus compensation for 2024 likewise consisted of our traditional two components of a metrics-based incentive award and a plan-based discretionary award, pursuant to the financial metrics and subjective criteria outlined in his ECP Plan.

With respect to these two components of his Plan, Mr. Nicholson’s performance measures for 2024 were similar to those of Mr. Brager, except that the individual criteria applicable to Mr. Nicholson’s rating for Subjective Job Performance for the purpose of determining his plan-based discretionary award are calibrated to the specific duties of his position.

For the first component, which was based on the five financial performance metrics set forth in Mr. Nicholson’s incentive performance plan, as enumerated in the preceding Tables, Mr. Nicholson’s aggregate incentive compensation for 2024 was $117,920. As in the case of Mr. Brager, this amount was based on achieving the Level 1 benchmark on three of the five financial metrics, achieving the Level 3 benchmark on one financial metric, and falling short of the Level 1 threshold benchmark on one financial metric.

For the second component, in calculating the plan-based discretionary bonus to be paid to Mr. Nicholson for 2024, the Compensation Committee recognized Mr. Nicholson’s successes in continuing to improve the decision support qualities of