secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2025-04-17T23:59:59+00:00
Accession:  0000706129-25-000073
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000073/0000706129-25-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000073/hbnc-20250415.htm
  HTML page:      https://secwatch.observer/filing/0000706129-25-000073

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer