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Horizon Bancorp Executive Compensation (FY25)

HBNC · Executive and director compensation, fiscal 2023 to 2025
Data as of September 5, 2026Latest filing (8-K): May 8, 2026
242 figures on this page: 231 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Thomas Prame, President and Chief Executive Officer, received $1,965,115 in total compensation for fiscal 2025, and compared with the $1,640,847 reported for fiscal 2024, Prame's total was 19.8% higher. For fiscal 2025, the company reported a chief executive pay ratio of 38.7:1, against median employee compensation of $50,839. 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. The disclosed peer group names Byline Bancorp, City Holding Company, Community Trust Bancorp, Farmers National Banc Corp. and First Busey Corporation, among others.
Chief executive, fiscal 2025
◇
Thomas Prame
Latest say-on-pay support
=
May 7, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Thomas Prame: $1,640,847 → $1,965,115 (19.8% higher)
Say-on-pay support: 96.8% → 97.0% (0.2 points higher)
CEO pay ratio: 36.3:1 → 38.7:1 (6.6% higher)

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 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Prame
President/CEO
◇—◇—◇—◇◇
Lynn Kerber
EVP, Chief Commercial Banking Officer
◇—◇—◇—◇◇
Kathie DeRuiter
EVP, Senior Operations Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
SCT TotalPSU◇—◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Weighted ResultPSU◇◇◇—◇—◇
Fiscal 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
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Kathie DeRuiterPSU◇◇——
RSU◇◇——
Lynn KerberPSU◇◇——
RSU◇◇——
Mark SecorPSU◇◇——
RSU◇◇——
John StewartPSU◇◇——
RSU◇◇——
Thomas PramePSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Eric P. Blackhurst
Board chair
◇◇————◇
Michele M. Magnuson
◇◇————◇
Steven W. Reed
◇◇————◇
Brian W. Maass
◇◇————◇
Lawrence E. Burnell
◇◇————◇
Vanessa P. Williams
◇◇————◇
James B. Dworkin
◇◇————◇
Julie S. Freigang
◇◇————◇
Kevin W. Ahern
◇◇————◇
Brian C. Walker
◇◇————◇
Michelle A. Samuels
◇◇————◇
Larry S. Magnesen
◇◇————◇
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.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 7, 2026=◇◇◇
2024May 1, 2025=◇◇◇
2023May 2, 2024=◇◇◇
2022May 4, 2023=◇◇◇
2021May 5, 2022=◇◇◇
2020May 6, 2021=◇◇◇
2019May 7, 2020=◇◇◇
2018May 2, 2019=◇◇◇
2017May 3, 2018=◇◇◇
2016May 4, 2017=◇◇◇
2015May 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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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.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
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.
242 figures on this page: 231 cited to the filing that reported them, 11 calculated from figures it prints.
231 cited to the filing
11 calculated from the filing

Documents cited

  1. 0000706129-26-000045
  2. 0000706129-26-000033
    COMPENSATION OF DIRECTORS · Director Compensation for 2025 · Outstanding Equity Awards at Fiscal Year–End 2025 · Pay Ratio Disclosure · and 1 more section
  3. 0000706129-25-000081
  4. 0000706129-25-000040
    Summary Compensation Table for 2024
  5. 0000706129-24-000048
  6. 0000706129-24-000017
    Summary Compensation Table for 2023
  7. 0000706129-23-000083
  8. 0000706129-22-000066
  9. 0001193125-21-157013
  10. 0000706129-20-000019
  11. 0000908834-19-000038
  12. 0000908834-18-000088
  13. 0000908834-17-000087
  14. 0000908834-16-000624
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Velarion, “Horizon Bancorp executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/HBNC (accessed 2026).
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers Horizon Bancorp discloses

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

Byline BancorpCity Holding CompanyCommunity Trust BancorpFarmers National Banc Corp.First Busey CorporationFirst Mid Bancshares, Inc.German American Bancorp, Inc.Great Southern BancorpIndependent Bank CorporationLakeland FinancialMercantile BankMidland States BancorpNicolet Bankshares, Inc.Old Second Bancorp, Inc.Park National CorporationPeoples BancorpQCR Holdings

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
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}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy