German American Bancorp sets 2024 incentive plan; EVP & CCO Leinenbach retiring Apr 1

GERMAN AMERICAN BANCORP, INC.

Keith Leinenbach, EVP & Chief Credit Officer, will retire effective April 1, 2024.
CEO Dauby's short-term award potential: 37.5% (good), 62.5% (very good), 87.5% (exceptional) of base salary.
Short-term performance metrics: core EPS growth (25%), efficiency ratio (10%), organic deposit growth (15%), organic loan growth (20%), NPA ratio (10%).
Long-term awards based on 3-year ROE, ROA, EPS growth; paid in restricted shares with 3-year graded vesting.
No incentive awards payable if 2024 consolidated net income does not meet board-established trigger amount.

item 5.02

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Departed

Keith A. Leinenbach

Executive Vice President and Chief Credit Officer

GABC · GERMAN AMERICAN BANCORP, INC.

Effective: 2024-04-01
Filed: March 7, 2024, 6:59 PM ET

Keith A. Leinenbach, the Company’s Executive Vice President and Chief Credit Officer, and a Named Executive Officer, will retire from such office effective April 1, 2024

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Keith A. Leinenbach departed as Executive Vice President and Chief Credit Officer at GERMAN AMERICAN BANCORP, INC..

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

Exact text from the filing

Keith A. Leinenbach, the Company’s Executive Vice President and Chief Credit Officer, and a Named Executive Officer, will retire from such office effective April 1, 2024

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GERMAN AMERICAN BANCORP, INC. filing history →

Source: SEC EDGAR

accession 0000714395-24-000020

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