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HOMETRUST BANCSHARES, INC.

(HTBI)
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HomeTrust Bancshares : Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; (Form 8-K)

09/24/2021 | 04:52pm EDT
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.

On September 23, 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, 2022, targeted incentive award opportunities and performance measures and weightings under the Company's Strategic Operating Committee Incentive Program (the "SOC Incentive Program"). For fiscal 2022, the targeted incentive award opportunities for the following executive officers (each of whom will be named an executive officer in the Company's next annual meeting proxy statement) were established: Dana L. Stonestreet, Chairman and Chief Executive Officer, 55% of annual base salary; C. Hunter Westbrook, President and Chief Operating Officer, 45% of annual base salary; Tony J. VunCannon, Executive Vice President, Chief Financial Officer, Corporate Secretary and Treasurer, 30% of annual base salary; Marty T. Caywood, Executive Vice President and Chief Information Officer, 30% of annual base salary; and Keith J. Houghton, Executive Vice President and Chief Credit Officer, 30% of annual base salary. For Messrs. Stonestreet and Westbrook, the SOC Incentive Program performance measures and weightings will be as follows: pretax, pre-provision income (50% weighting); efficiency ratio (20% weighting); noninterest income (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 (45% weighting); efficiency ratio (20% weighting); noninterest income (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 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 150% of their targeted incentive award opportunity if actual performance is at or above the stretch (maximum) level of performance. With this amendment, the payout percentages are consistent with those in the SOC Incentive Program prior to fiscal 2021. For the fiscal year ended June 30, 2021, the payout percentages were changed due to the uncertainties in the operating environment and the challenge of establishing reasonable targets due to the continued impacts of the COVID-19 pandemic.


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Disclaimer

HomeTrust Bancshares Inc. published this content on 24 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2021 20:51:01 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 147 M - -
Net income 2022 30,0 M - -
Net Debt 2022 - - -
P/E ratio 2022 15,2x
Yield 2022 1,09%
Capitalization 474 M 474 M -
Capi. / Sales 2022 3,22x
Capi. / Sales 2023 3,11x
Nbr of Employees 563
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 29,26 $
Average target price 31,60 $
Spread / Average Target 8,00%
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Managers and Directors
Dana L. Stonestreet Chairman & Chief Executive Officer
C. Hunter Westbrook President, Chief Operating Officer & Director
Tony J. VunCannon CFO, Secretary, Treasurer & Executive VP
Marty T. Caywood Chief Information Officer & Executive VP
Sidney A. Biesecker Independent Director
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