Horizon Bancorp accelerates vesting of restricted stock for President Jim Neff upon retirement

HORIZON BANCORP INC /IN/

Compensation Committee approved accelerating vesting of 2,623 restricted shares held by President Jim Neff upon his retirement.
Accelerated shares valued at $52,539 based on HBNC closing price of $20.03 on March 15, 2022.
Neff will forfeit other equity awards totaling 2,177 restricted shares and 19,202 RSUs (estimated value $428,221 at target).
Retirement effective March 31, 2022; previously disclosed in an 8-K filed on January 26, 2022.
Company will incur no additional expense for the accelerated shares as cost was already accrued.

item 5.02

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Departed

Jim Neff

President

HBNC · HORIZON BANCORP INC /IN/

Effective: 2022-03-31
Filed: March 16, 2022, 7:59 PM ET

the Compensation Committee of Horizon approved the acceleration of vesting on 2,623 shares of restricted stock held by Mr. Jim Neff, the President of Horizon and Horizon Bank, which would have otherwise been forfeited in connection with his retirement on March 31, 2022.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jim Neff retired as President at HORIZON BANCORP INC /IN/.

Action: retired
Role: President

Exact text from the filing

the Compensation Committee of Horizon approved the acceleration of vesting on 2,623 shares of restricted stock held by Mr. Jim Neff, the President of Horizon and Horizon Bank, which would have otherwise been forfeited in connection with his retirement on March 31, 2022.

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Source: SEC EDGAR

accession 0000706129-22-000035

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