Horizon Bancorp amends restricted stock award agreements; extends vesting for executives to three-year ratable

HORIZON BANCORP INC /IN/

Compensation Committee approved amended forms for performance-based and time-based restricted stock under 2021 Omnibus Equity Incentive Plan.
Time-based vesting changed from single anniversary cliff to equal installments over three years; fractional shares rounded down on first two dates.
Outstanding grants to six named executive officers totaling 38,797 shares (e.g., Prame 19,107, DeRuiter 3,525) amended to conform to new three-year schedule.
Performance-based awards now use three-year performance period with core ROAA and TSR goals (50% each); payout 0%–150% based on target benchmarks.
Amendments effective April 15, 2025; apply to future awards and certain March 18, 2025 grants retroactively.

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