---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-015176"
form_type: "8-K"
ticker: "VEL"
cik: "0001692376"
company_name: "Velocity Financial, Inc."
filed_at: "2024-02-14T23:59:59+00:00"
generated_at: "2026-06-06T02:26:35.927920+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-015176
- form_type: 8-K
- ticker: VEL
- cik: 0001692376
- company_name: Velocity Financial, Inc.
- filed_at: 2024-02-14T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692376/000095017024015176/0000950170-24-015176-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692376/000095017024015176/vel-20240214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-015176
- JSON: https://secwatch.observer/filing/0000950170-24-015176.json
- Plain text: https://secwatch.observer/filing/0000950170-24-015176.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.