Form 4: Horizon Bancorp CEO Receives Stock Awards

Thomas M. Prame, CEO of Horizon Bancorp, was granted stock awards on March 18, 2025, which will vest in installments over the next three years.

Summary

• Thomas M. Prame, the Chief Executive Officer of Horizon Bancorp, received two stock awards on March 18, 2025.
• The first award consists of 11,464 shares, vesting in three equal installments of 3,821 shares on March 18, 2026, March 18, 2027, and 3,822 shares on March 18, 2028.
• The second award consists of 7,643 shares, vesting in three installments of 2,547 shares on March 18, 2026, 2,548 shares on March 18, 2027, and 2,548 shares on March 18, 2028.
• Following these transactions, Mr. Prame beneficially owns 50,669 shares of Horizon Bancorp.
• The Form 4 was filed on March 19, 2025.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management and shareholder interests. The sentiment is moderately positive.

Positives

• The stock awards to the CEO align his interests with those of the shareholders, incentivizing long-term value creation.
• The vesting schedule encourages the CEO's continued service and commitment to the company's success.

Industry Context

Stock awards are a common form of executive compensation in the banking industry, used to attract and retain talent and align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock awards are a typical component of executive compensation packages in the banking sector.
• Companies like First Financial Bancorp (FFBC) and Old National Bancorp (ONB) also utilize stock awards as part of their executive compensation plans.
• The vesting schedules are fairly standard, aligning with industry norms for incentivizing long-term performance.

Stakeholder Impact

• Shareholders may view the stock awards positively as they incentivize the CEO to increase shareholder value.
• Employees may see the awards as a sign of the company's commitment to its leadership.

Key Dates

Keywords

Horizon Bancorp, HBNC, stock awards, CEO, Thomas M. Prame, Form 4, beneficial ownership, restricted stock, vesting