Velocity Financial approves FY2024 incentive programs tied to Core Net Income growth

Velocity Financial, Inc.

CEO Farrar eligible for cash bonus of $315k (threshold) to $1.26M (max) based on 2024 Core Net Income growth.
CFO Szczepaniak and EVP Taylor have threshold bonuses of $147,656 and $118,125, max $590,625 and $472,500.
PSU grants range from 0 to 139,028 shares for CEO; 0-48,410 for CFO; 0-44,686 for EVP based on 3-yr avg Core Net Income growth.
Individual performance bonuses of $0 to same max amounts based on asset quality, leadership, strategic initiatives.

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