German American Bancorp sets 2023 incentive plan with $78.8M net income trigger

GERMAN AMERICAN BANCORP, INC.

Short-term cash awards for CEO Dauby range from 37.5% to 87.5% of base salary based on performance level.
Long-term awards for CEO Dauby also range from 37.5% to 87.5% of base salary, tied to 3-year ROE, ROA, and EPS growth.
No incentive paid unless 2023 consolidated net income reaches at least $78.8 million.
Executive VP & Chief Banking Officer Randall Braun retiring April 1, 2023, not participating in 2023 plan.
Performance metrics include adjusted EPS growth (25%), efficiency ratio (10%), deposit growth (15%), loan growth (20%), and NPA ratio (10%).

item 5.02

Executive movements

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Departed

Randall L. Braun

Executive Vice President and Chief Banking Officer

GABC · GERMAN AMERICAN BANCORP, INC.

Effective: 2023-04-01
Filed: March 3, 2023, 6:59 PM ET

As previously reported, Randall L. Braun, the Company’s Executive Vice President and Chief Banking Officer, and a Named Executive Officer, will retire effective April 1, 2023 and, therefore, is not participating in the 2023 Management Incentive Plan.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Randall L. Braun departed as Executive Vice President and Chief Banking Officer at GERMAN AMERICAN BANCORP, INC..

Action: retire
Role: Executive Vice President and Chief Banking Officer

Exact text from the filing

As previously reported, Randall L. Braun, the Company’s Executive Vice President and Chief Banking Officer, and a Named Executive Officer, will retire effective April 1, 2023 and, therefore, is not participating in the 2023 Management Incentive Plan.

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Source: SEC EDGAR

accession 0000714395-23-000012

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