HomeTrust Bancshares, Inc 8-K/A, filed Jan 27, 2021
HomeTrust Bancshares, Inc. (HTB)
8-K/A
2021-01-27
For: 2021-01-21
View Original
Added on
April 07, 2026
About this 8-K/A
HomeTrust Bancshares, Inc filed this 8-K/A on January 27, 2021, reporting on events of January 21, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A (Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 21, 2021
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EXPLANATORY NOTE
This Current Report on Form 8-K/A (this “Amendment No. One”) amends the Current Report on Form 8-K filed by HomeTrust Bancshares, Inc. with the Securities and Exchange Commission on January 22, 2021 (the “Original Form 8-K”). This Amendment No. One is being filed solely to provide additional information regarding the matter discussed in the Original Form 8-K.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2021, the Compensation Committee (the “Committee”) of the Board of Directors of HomeTrust Bancshares, Inc. (the “Company”) approved, for the fiscal year ending June 30, 2021, targeted incentive award opportunities and performance measures and weightings under the Company’s Strategic Operating Committee Incentive Program (the “SOC Incentive Program”). For fiscal 2021, the targeted incentive award opportunities for the following executive officers (each of whom was a named executive officer in the Company’s most recent annual meeting proxy statement) were established: Dana L. Stonestreet, Chairman, President and Chief Executive Officer, 55% of annual base salary; C. Hunter Westbrook, Senior Executive Vice President and Chief Operating Officer, 40% of annual base salary; Tony J. VunCannon, Executive Vice President, Chief Financial Officer, Corporate Secretary and Treasurer, 30% of annual base salary; and Marty T. Caywood, Executive Vice President and Chief Information Officer, 30% of annual base salary. For Mr. Stonestreet, the SOC Incentive Program performance measures and weightings will be as follows: pretax, pre-provision income (40% weighting); noninterest income (20% weighting); efficiency ratio (10% weighting); total loans, excluding purchased home equity lines of credit ("HELOCs") and Paycheck Protection Program (“PPP”) loans (10% weighting); and functional team goals (20% weighting). For each of the other named executive officers, the SOC Incentive Program performance measures and weightings will be as follows: pretax, pre-provision income (35% weighting); noninterest income (20% weighting); efficiency ratio (10% weighting); total loans, excluding purchased HELOCs and PPP loans (10% weighting); and functional team goals (25% weighting).
The Committee also amended the SOC Incentive Program to provide that executive officers will receive a payout of 25% to 50% of their targeted incentive award opportunity if actual performance under a performance goal is at the threshold (minimum) level of performance, 100% of their targeted incentive award opportunity if actual performance is at the target level of performance, and 130% of their targeted incentive award opportunity if actual performance is at or above the stretch (maximum) level of performance. Prior to this amendment, the payout percentages for performance at the threshold, target and stretch levels of performance were 50%, 100% and 150%, respectively.
For the fiscal year ending June 30, 2021, the respective threshold, target and maximum payout percentages for the corporate performance measures listed above will be as follows: pre-tax, pre-provision income: 25%, 100% and 130%; noninterest income: 50%, 100% and 150%; total loans, excluding HELOCs and PPP loans: 50%, 100% and 130%; and efficiency ratio: 25%, 100% and N/A.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HOMETRUST BANCSHARES, INC. | |||||||||||
| Date: January 27, 2021 | By: | /s/ Tony J. VunCannon | |||||||||
| Tony J. VunCannon | |||||||||||
| Executive Vice President, Chief Financial Officer, Corporate Secretary and Treasurer | |||||||||||
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