German American Bancorp adopts 2022 Management Incentive Plan for named executive officers

GERMAN AMERICAN BANCORP, INC.

Short-term cash awards for CEO Dauby up to 87.5% of base salary based on performance levels (good, very good, exceptional).
Long-term awards for executives Dauby, Rust, Braun, Leinenbach tied to 3-year metrics: ROE, ROA, EPS growth.
Performance metrics include EPS growth (25%), efficiency ratio (10%), core deposit growth (15%), loan growth (20%), and non-performing assets ratio (10%).
No awards payable unless 2022 consolidated net income reaches at least $60 million.
Executive Chairman Mark Schroeder not participating due to planned retirement in May 2022.

item 5.02

Executive movements

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Departed

Mark A. Schroeder

Executive Chairman

GABC · GERMAN AMERICAN BANCORP, INC.

Filed: March 11, 2022, 6:59 PM ET

Mark A. Schroeder, the Company’s Executive Chairman and a Named Executive Officer, is expected to retire as an executive officer of the Company in May 2022 and, therefore, is not participating in the 2022 Management Incentive Plan.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Mark A. Schroeder departed as Executive Chairman at GERMAN AMERICAN BANCORP, INC..

Action: expected to retire
Role: Executive Chairman

Exact text from the filing

Mark A. Schroeder, the Company’s Executive Chairman and a Named Executive Officer, is expected to retire as an executive officer of the Company in May 2022 and, therefore, is not participating in the 2022 Management Incentive Plan.

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GERMAN AMERICAN BANCORP, INC. filing history →

Source: SEC EDGAR

accession 0000714395-22-000016

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