secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0000908834-24-000358
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud

Horizon Bancorp adopts new Nonqualified Deferred Compensation Plan effective January 1, 2025
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- The plan amends and restates the existing 2005 Supplemental Executive Retirement Plan (SERP) and is effective January 1, 2025.
- Only certain management and highly compensated employees of Horizon and its affiliates are eligible to participate.
- Participants may defer up to 90% of base salary and 90% of performance-based bonus; the Compensation Committee may elect matching contributions.
- Horizon common shares (HBNC) will not be an investment alternative under the new deferred compensation plan.
- Vesting of employer discretionary contributions occurs over six years (0% at less than 1 year, 100% after 6 years), with full vesting at age 65, death, or disability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000090883424000358/0000908834-24-000358-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000090883424000358/horizon_8k12172024.htm
  HTML page:      https://secwatch.observer/filing/0000908834-24-000358

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