The company said the Compensation Committee and the Independent Directors approved a year-end incentive award for Mr. Fairbank for 2023 performance totaling $26.5 million on February 1, 2024.

1. 01

   The company said the Compensation Committee and the Independent Directors approved a year-end incentive award for Mr. Fairbank for 2023 performance totaling $26.5 million on February 1, 2024.

2. 02

   The company said the award consists of performance share awards worth about $16.8 million, a deferred cash bonus of $5.0 million, and 34,929 RSUs with a grant date value of $4.7 million. The deferred cash is mandatorily deferred for 3 years and will pay out in Q1 2027.

3. 03

   The company said Mr. Fairbank may receive from 0% to 150% of a target number of 124,852 shares, based on the company's performance over the period from January 1, 2024 to December 31, 2026. About $4.2 million is for TSR PSUs and $12.6 million is for Financial PSUs.

4. 04

   The company said Mr. Fairbank's 2024 compensation plan does not provide for a cash salary, and that on February 1, 2024 it granted 18,580 RSUs with a grant date value of $2.5 million. The RSUs will vest in full on February 15, 2027.

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