Banking

Horizon Bancorp Executive Compensation (FY25)

Name: Horizon Bancorp (HBNC) executive compensation
Creator: Velarion
License: https://intel.velarion.ai/terms

HBNC · Executive and director compensation, fiscal 2022 to 2025

Chief executive, fiscal 2025

◇

Thomas Prame

Latest say-on-pay support

May 7, 2026

Chief executive pay ratio

◇

To the median employee

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Data as of October 19, 2026Latest filing (8-K): May 8, 2026

15 filings cited on this page

Method: intel.velarion.ai/methodology

A report that fails to generate is refunded in full

Published by Velarion Company Intelligence

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322 figures on this page: 311 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

Frequently asked questions

Answers drawn from the data on this page.

Who is Horizon Bancorp's chief executive and what were they paid?

Thomas Prame, President and Chief Executive Officer, received $1,965,115 in total compensation for fiscal 2025. Compared with the $1,640,847 reported for fiscal 2024, Prame's total was 19.8% higher.

What was Horizon Bancorp's say-on-pay result?

The say-on-pay proposal drew 97.0% of votes cast for or against in favor at the meeting held May 7, 2026 for fiscal 2025.

Which companies are in Horizon Bancorp's peer group?

The disclosed peer group names Byline Bancorp, City Holding Company, Community Trust Bancorp, Farmers National Banc Corp. and First Busey Corporation, among others.

What is Horizon Bancorp's chief executive pay ratio?

For fiscal 2025, the company reported a chief executive pay ratio of 38.7:1, against median employee compensation of $50,839.

Executive compensation

Every element reported for each named executive officer, by fiscal year.

Fiscal 2022

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Craig Dwight Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
Mark Secor Chief Financial Officer	◇	—	◇	—	◇	—	◇	◇
Lynn Kerber Executive Vice President; Chief Commercial Banking Officer	◇	—	◇	—	◇	—	◇	◇
Kathie DeRuiter Executive Vice President Senior Operations Officer	◇	—	◇	—	◇	—	◇	◇
Thomas Prame President	◇	◇	◇	—	—	—	◇	◇

Fiscal 2023

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Thomas Prame President/CEO	◇	—	◇	—	◇	—	◇	◇
Lynn Kerber EVP, Chief Commercial Banking Officer	◇	—	◇	—	◇	—	◇	◇
Kathie DeRuiter EVP, Senior Operations Officer	◇	—	◇	—	◇	—	◇	◇

Fiscal 2024

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
John Stewart Executive Vice President and Chief Financial Officer	◇	◇	◇	—	◇	—	◇	◇
Thomas Prame Chief Executive Officer and President	◇	—	◇	—	◇	—	◇	◇
Lynn Kerber Executive Vice President and Senior Commercial Credit Officer	◇	—	◇	—	◇	—	◇	◇
Mark Secor Executive Vice President and Chief Administration Officer	◇	—	—	—	◇	—	◇	◇
Kathie DeRuiter Executive Vice President of Horizon and Senior Bank Operations Officer	◇	—	◇	—	◇	—	◇	◇
Todd Etzler Executive Vice President and Chief Legal and Risk Officer	◇	—	◇	—	◇	—	◇	◇

Fiscal 2025

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Thomas Prame President and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
John Stewart Executive Vice President and Chief Financial Officer	◇	—	◇	—	◇	—	◇	◇
Lynn Kerber Executive Vice President and Chief Commercial Banking Officer	◇	—	◇	—	◇	—	◇	◇
Kathie DeRuiter Executive Vice President of Horizon and Senior Bank Operations Officer	◇	—	◇	—	◇	—	◇	◇
Mark Secor Executive Vice President and Chief Administration Officer	◇	—	◇	—	◇	—	◇	◇

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.

Fiscal 2025

Officer	Award	Grant date	Threshold units	Target units	Units granted	Maximum units	Exercise price	Grant date fair value
John R. Stewart	RSU	◇	—	—	◇	—	—	◇
John R. Stewart	PSU	◇	◇	◇	—	◇	—	◇
Kathie A. DeRuiter	RSU	◇	—	—	◇	—	—	◇
Kathie A. DeRuiter	PSU	◇	◇	◇	—	◇	—	◇
Lynn M. Kerber	RSU	◇	—	—	◇	—	—	◇
Lynn M. Kerber	PSU	◇	◇	◇	—	◇	—	◇
Mark E. Secor	RSU	◇	—	—	◇	—	—	◇
Mark E. Secor	PSU	◇	◇	◇	—	◇	—	◇
SCT Total	PSU	◇	—	◇	—	◇	—	◇
Thomas M. Prame	RSU	◇	—	—	◇	—	—	◇
Thomas M. Prame	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇
Weighted Result	PSU	◇	◇	◇	—	◇	—	◇

Fiscal 2022, 2024 are included in the PDF.

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.

As disclosed at fiscal 2025 year end

Officer	Award	Unvested units	Market value of unvested units	Exercise price	Expires
Kathie DeRuiter	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
Lynn Kerber	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
Mark Secor	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
John Stewart	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
Thomas Prame	PSU	◇	◇	—	—
	RSU	◇	◇	—	—

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.

Kathie DeRuiter

Executive Vice President of Horizon and Senior Bank Operations Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing

Severance multiple	◇
Severance cash amount	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Lynn Kerber

Executive Vice President and Chief Commercial Banking Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing

Severance multiple	◇
Severance cash amount	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Thomas Prame

President and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing

Severance multiple	◇
Severance cash amount	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Director compensation

What each non-employee director was paid.

Fiscal 2025

Director	Fees earned in cash	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Eric P. Blackhurst Board chair	◇	◇	—	—	—	—	◇
Michele M. Magnuson	◇	◇	—	—	—	—	◇
Steven W. Reed	◇	◇	—	—	—	—	◇
Julie S. Freigang	◇	◇	—	—	—	—	◇
James B. Dworkin	◇	◇	—	—	—	—	◇
Lawrence E. Burnell	◇	◇	—	—	—	—	◇
Brian W. Maass	◇	◇	—	—	—	—	◇
Vanessa P. Williams	◇	◇	—	—	—	—	◇
Kevin W. Ahern	◇	◇	—	—	—	—	◇
Larry S. Magnesen	◇	◇	—	—	—	—	◇
Brian C. Walker	◇	◇	—	—	—	—	◇
Michelle A. Samuels	◇	◇	—	—	—	—	◇
Craig M. Dwight	◇	—	—	—	—	—	◇

Thomas M. Prame served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.

Earlier years are included in the PDF.

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.

Board cash retainer	◇
Board equity retainer	◇
Total board retainer	◇
Board chair premium	◇
Lead independent director premium	◇
Audit committee chair	◇
Compensation committee chair	◇
Nominating and governance chair	◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Fiscal 2025

Byline Bancorp BY
City Holding Company CHCO
Community Trust Bancorp CTBI
Farmers National Banc Corp. FMNB
First Busey Corporation BUSE
First Mid Bancshares, Inc. FMBH
German American Bancorp, Inc. GABC
Great Southern Bancorp GSBC
Independent Bank Corporation IBCP
Lakeland Financial LKFN
Mercantile Bank MBWM
Midland States Bancorp MSBI
Nicolet Bankshares, Inc. NIC
Old Second Bancorp, Inc. OSBC
Park National Corporation PRK
Peoples Bancorp PEBO
Premier Financial Corp. PFC
QCR Holdings QCRH

Say-on-pay history

Shareholder support for the compensation program, by year.

Year	Meeting	Support	Votes for	Votes against	Abstentions
2025	May 7, 2026	=	◇	◇	◇
2024	May 1, 2025	=	◇	◇	◇
2023	May 2, 2024	=	◇	◇	◇
2022	May 4, 2023	=	◇	◇	◇
2021	May 5, 2022	=	◇	◇	◇
2020	May 6, 2021	=	◇	◇	◇
2019	May 7, 2020	=	◇	◇	◇
2018	May 2, 2019	=	◇	◇	◇
2017	May 3, 2018	=	◇	◇	◇
2016	May 4, 2017	=	◇	◇	◇
2015	May 5, 2016	=	◇	◇	◇

Chief executive pay ratio

As calculated and reported by the company.

Ratio

◇

Median employee compensation

◇

Chief executive total compensation

◇

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Sample answer — “What is the CEO’s total compensation?”

- Thomas Prame (President and Chief Executive Officer), FY2025 total compensation $1,965,115 (base salary $685,000) [exec_comp, SEC accession 0000706129-26-000033, filed 2026-03-20]

What this page does not include

Everything above is a fact Horizon Bancorp disclosed, and it is free. Everything below is our analysis of those facts, and it is not.

Peer benchmarking

Where Horizon Bancorp sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.

Executive Compensation Report — $1,500

Written compensation analysis

A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.

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Board and governance analysis

Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.

Board Governance Report — $499

Realizable pay

What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.

Velarion Intelligence

Adviser switching and vote outcomes

Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.

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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.

322 figures on this page: 311 cited to the filing that reported them, 11 calculated from figures it prints.

311 cited to the filing

11 calculated from the filing

Documents cited

8-K, filed May 8, 2026
0000706129-26-000045
DEF 14A, filed March 20, 2026
0000706129-26-000033
COMPENSATION OF DIRECTORS · Compensation Discussion and Analysis · Director Compensation for 2025 · Outstanding Equity Awards at Fiscal Year–End 2025 · and 2 more sections
8-K, filed May 2, 2025
0000706129-25-000081
DEF 14A, filed March 17, 2025
0000706129-25-000040
Summary Compensation Table for 2024
8-K, filed May 3, 2024
0000706129-24-000048
DEF 14A, filed March 18, 2024
0000706129-24-000017
Summary Compensation Table for 2023
8-K, filed May 5, 2023
0000706129-23-000083
DEF 14A, filed March 17, 2023
0000706129-23-000042
8-K, filed May 6, 2022
0000706129-22-000066
8-K, filed May 11, 2021
0001193125-21-157013
8-K, filed May 8, 2020
0000706129-20-000019
8-K, filed May 6, 2019
0000908834-19-000038
8-K, filed May 7, 2018
0000908834-18-000088
8-K, filed May 5, 2017
0000908834-17-000087
8-K, filed May 10, 2016
0000908834-16-000624

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Velarion, “Horizon Bancorp executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/HBNC (accessed 2026).

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The paid brief for Horizon Bancorp

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.

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15 filings cited on this page

Method: intel.velarion.ai/methodology

A report that fails to generate is refunded in full

Published by Velarion Company Intelligence

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Banking rankings

Chief executive pay — Banking CEO pay ratio — Banking Say-on-pay support — Banking

Peers Horizon Bancorp discloses

The companies named in HBNC's own disclosed peer group.

Byline Bancorp City Holding Company Community Trust Bancorp Farmers National Banc Corp.First Busey Corporation First Mid Bancshares, Inc.German American Bancorp, Inc.Great Southern Bancorp Independent Bank Corporation Lakeland Financial Mercantile Bank Midland States Bancorp Nicolet Bankshares, Inc.Old Second Bancorp, Inc.Park National Corporation Peoples Bancorp Premier Financial Corp.QCR Holdings

Terms on this page

Say-on-Pay Vote CEO Pay Ratio Median Employee Compensation All companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data

APA

Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854

BibTeX

@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}

More on Horizon Bancorp

Frequently asked questions

Executive compensation

Equity awards granted

Outstanding awards

Severance and change in control

Director compensation

Director fee schedule

Disclosed peer group

Say-on-pay history

Chief executive pay ratio

Velarion Pro: every company page, peer tools and exports, one seat

What this page does not include

Citations

Documents cited

The paid brief for Horizon Bancorp

Banking rankings

Peers Horizon Bancorp discloses

Terms on this page