Bancolombia S A : Proposal of Compensation for the Board of Directors.
February 28, 2022 at 03:37 pm EST
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Proposal of compensation for
the Board of Directors
Attracting and keeping directors with high knowledge and skills that contribute to the generation of value and the fulfillment of the strategic objectives of Grupo Bancolombia must be a priority.
To achieve this, it is essential to keep updated the relative value of the fees of the Board of Directors in an economic context of inflation and depreciation of the Colombian peso.
Due to the above, the Administration proposes to the Shareholders' Meeting:
1. Increase the monthly fees of the Board of Directors in CPI+2%, including the fees for participating in Support Committees.
With this increase, the amount of the fees for directors residing in Colombia would be COP 10,762,000.00 (ten million seven hundred sixty two thousand Colombian pesos).
2. For independent directors residing abroad, the approval of payment in United States Dollars is proposed at the rate of USD 3,000 for monthly fees and for participation in Support Committees.
Additionally, for these directors, it is proposed to authorize travel expenses equivalent to USD 250 per day of travel.
3. Adjust the remuneration policy approved by the General Shareholders´ Meeting in 2020
In accordance with the current policy, 70% of the fees of the Board of Directors are paid in cash and the remaining 30% is paid through a contribution to the Institutional Fund whose only investment is shares issued by Bancolombia S.A., and it is subject to a term of permanence of the contribution of two (2) years, counted from the respective contribution.
Cash
Institutional Fund
It is proposed to the General Shareholders´ Meeting that the amount paid through the Institutional Fund, will be made on the fifteenth (15th) of the month following the accrual of the fees and not at the end of the year as it is currently defined. In the event that it is business day, payment will be made within the following two (2) business days.
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Bancolombia SA published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 20:36:16 UTC.
Bancolombia S.A. (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. It delivers its products and services through its regional network comprising Colombia's non-Government owned banking network, El Salvador's financial conglomerate by gross loans, Guatemala's bank, Panama's bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.
BANCOLOMBIA S.A. 
