Horizon Bancorp appoints Thomas Prame CEO effective June 1; enhances severance terms

HORIZON BANCORP INC /IN/

Thomas Prame becomes CEO of Horizon Bancorp and Horizon Bank effective June 1, 2023; also joins Board.
Annual base salary increased to $600,000 from $550,000 under amended employment agreement.
Severance improved to 2x salary plus 2x average bonus (up from 1x); health coverage extended to 2 years (from 1).
Change-in-control severance enhanced to 2.99x salary and bonus (up from 2x); health benefits extended to 35 months (from 24).
Craig Dwight steps down as CEO effective June 1, 2023; retires as employee July 3, 2023; remains Chairman.

item 5.02 item 9.01

Executive movements

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Appointed

Thomas M. Prame

Chief Executive Officer

HBNC · HORIZON BANCORP INC /IN/

Effective: 2023-06-01
Filed: May 18, 2023, 7:59 PM ET

the Board of Directors of Horizon Bancorp, Inc. (“Horizon” or the “Company”) approved the appointment of Mr. Thomas M. Prame to serve as the Chief Executive Officer of both Horizon and its wholly-owned bank subsidiary, Horizon Bank (the “Bank”), effective as of June 1, 2023.

Departed

Craig M. Dwight

Chief Executive Officer

HBNC · HORIZON BANCORP INC /IN/

Effective: 2023-06-01
Successor: Thomas M. Prame
Filed: May 18, 2023, 7:59 PM ET

Craig M. Dwight, our current CEO, will step down as CEO of Horizon and the Bank, effective as of June 1, 2023, and will retire as an employee from Horizon and the Bank, effective as of July 3, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas M. Prame was appointed as Chief Executive Officer at HORIZON BANCORP INC /IN/.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Board of Directors of Horizon Bancorp, Inc. (“Horizon” or the “Company”) approved the appointment of Mr. Thomas M. Prame to serve as the Chief Executive Officer of both Horizon and its wholly-owned bank subsidiary, Horizon Bank (the “Bank”), effective as of June 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig M. Dwight departed as Chief Executive Officer at HORIZON BANCORP INC /IN/.

Action: stepped down
Role: Chief Executive Officer

Exact text from the filing

Craig M. Dwight, our current CEO, will step down as CEO of Horizon and the Bank, effective as of June 1, 2023, and will retire as an employee from Horizon and the Bank, effective as of July 3, 2023.

View on SEC.gov

HORIZON BANCORP INC /IN/ filing history →

Source: SEC EDGAR

accession 0000706129-23-000088

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