secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K/A
Filed at:   2025-04-17T23:59:59+00:00
Accession:  0000706129-25-000075
Event type: other_material
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Horizon Bancorp amends restricted stock awards; executive vesting shifted to three-year ratable schedule
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- Performance-based restricted stock now uses a three-year performance period; goals weighted 50% Core ROA vs. peers and 50% TSR vs. Nasdaq Bank Index.
- Payout ranges from 0% to 150% of target based on weighted performance results.
- Time-based restricted stock vesting changed from single anniversary to equal one-third vesting over three years.
- Outstanding March 18, 2025 awards to six NEOs (e.g., CEO Prame 19,107 shares) amended to new three-year schedule, effective retroactively.
- Amended forms govern grants made after April 15, 2025; no changes to the overall 2021 Omnibus Equity Incentive Plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000075/0000706129-25-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000075/hbnc-20250415.htm
  HTML page:      https://secwatch.observer/filing/0000706129-25-000075

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