Company: UVSP
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000102212-25-000009
Chunk: 24

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 24
---
.18% |     |   0.45% |     | 97.2%                     |     | 18.2%                                              |
| Relative Net Charge-offs/Average Loans and Leases(5) |     | 10.0%          |     |     0.24% |     |         0.16% |     |    0.08% |     |   0.06% |     | 155.3%                    |     | 19.4%                                              |
| Total Corporate Performance                          |     | 80.0%          |     |           |     |               |     |          |     |         |     |                           |     | 111.5%                                             |

(1) Represents percentage of individual's total target incentive compensation award.

(2) Adjusted to exclude the income statement impact of the sale of mortgage servicing rights in the first quarter of 2024 and BOLI death benefit claims received in 2024. These adjustments were approved by the Compensation Committee as they were not considered when the original Target (Plan) was established in December 2023.

(3) Threshold and Target for Adjusted PTPP, Adjusted PTPP Return on Average Equity and Adjusted Efficiency Ratio for 2024 were established lower than 2023 actuals due to certain factors, including the projected interest rate environment and deposit competition.

(4) Performance for the NPAs to Total Assets metric is measured relative to a peer group of Mid-Atlantic banks with total assets between $5 billion and $30 billion. The Target (Plan) performance level shown in the table above reflects the median of the peer group, while Threshold and Optimum are set equal to 25 basis points above and below this Target (Plan) level, respectively. Peer group and the Corporation's data are measured as of September 30, 2024.

(5) Performance for the Net Charge-offs/Average Loans and Leases metric is measured relative to a peer group of Mid-Atlantic banks with total assets between $5 billion and $30 billion. The Target (Plan) performance level shown in the table above reflects the average of the peer group, while Threshold and Optimum are set equal to 50% below and above this Target (Plan) level, respectively. Peer group and the Corporation's data are measured for the twelve-month period ended September 30, 2024.

The individual performance component is recommended by the Chief Executive Officer or the Compensation Committee,