secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0000706129-23-000088
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000088/0000706129-23-000088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000088/hbnc-20230518.htm
  HTML page:      https://secwatch.observer/filing/0000706129-23-000088

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