BancFirst Corp. Files Definitive Proxy Statement (DEF 14A)

TL;DR

<b>BancFirst Corp. has filed its Definitive Proxy Statement (DEF 14A) for the fiscal year ending December 31, 2023, detailing executive compensation elements.</b>

AI Summary

BANCFIRST CORP /OK/ (BANFP) filed a Proxy Statement (DEF 14A) with the SEC on April 3, 2024. BancFirst Corp. filed a DEF 14A filing on April 3, 2024. The filing pertains to the fiscal year ending December 31, 2023. Key executive compensation components include changes in value of option awards and service costs for supplemental executive retirement plans. The company is incorporated in Oklahoma (OK). The filing details various compensation adjustments for both 'PeoMember' and 'NonPeoNeoMember' executive categories.

Why It Matters

For investors and stakeholders tracking BANCFIRST CORP /OK/, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation, enabling informed voting decisions on executive pay packages. Understanding the components of executive compensation, such as option awards and retirement plan adjustments, is vital for assessing management's alignment with shareholder interests.

Risk Assessment

Risk Level: low — BANCFIRST CORP /OK/ shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate risk.

Analyst Insight

Shareholders should review the detailed executive compensation breakdown to understand how performance and tenure impact pay, and vote accordingly on related proposals.

Key Numbers

• 2024-04-03 — Filing Date (DEF 14A filing date)
• 2023-12-31 — Fiscal Year End (Reporting period)
• 1989-04-01 — Date of Name Change (From UNITED COMMUNITY CORP)
• 6021 — SIC Code (National Commercial Banks)

Key Players & Entities

• BANCFIRST CORP /OK/ (company) — Filer name
• 0000760498 (company) — Central Index Key
• OK (location) — State of incorporation and business address
• 2024-04-03 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 100 NORTH BROADWAY AVE (address) — Business and mailing address
• 4052701000 (phone) — Business phone number
• UNITED COMMUNITY CORP (company) — Former company name

FAQ

Industry Context

BancFirst Corp. operates within the National Commercial Banks industry (SIC 6021).

Regulatory Implications

The filing is a DEF 14A, a type of proxy statement required by the SEC for public companies.

What Investors Should Do

1. Review the executive compensation details for 'PeoMember' and 'NonPeoNeoMember' categories.
2. Analyze the changes in value of option awards and service costs for supplemental executive retirement plans.
3. Vote on executive compensation proposals based on the information provided in the proxy statement.

Key Dates

• 2024-04-03: Filing Date — Submission of Definitive Proxy Statement (DEF 14A)
• 1989-04-01: Name Change — Company formerly known as UNITED COMMUNITY CORP

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure for executive compensation and shareholder matters, not a comparison to a prior period's financial performance.

Filing Documents

• banf-20240403.htm (DEF 14A) — 1366KB
• img91429597_0.jpg (GRAPHIC) — 33KB
• img91429597_1.jpg (GRAPHIC) — 27KB
• img91429597_2.jpg (GRAPHIC) — 30KB
• img91429597_3.jpg (GRAPHIC) — 29KB
• img91429597_4.jpg (GRAPHIC) — 3347KB
• img91429597_5.jpg (GRAPHIC) — 2040KB
• 0000950170-24-041155.txt (&nbsp;) — 16183KB
• banf-20240403.xsd (EX-101.SCH) — 27KB
• banf-20240403_htm.xml (XML) — 240KB

Executive Compensation

Executive Compensation 23 Compensation Discussion and Analysis 23 Objectives of our Compensation Program 23 Executive Participation in Committee Discussions 24

Executive Compensation Program

Executive Compensation Program 24 Base Salary 25 Annual Performance-Based Incentive Pay 25 Long-Term Awards 28 Benefits Available to All Employees 29 Perquisites 29 Employment Arrangements 29 Deductibility of Named Executive Officers Compensation 30 Summary Compensation Table 30 Grants of Plan-Based Awards 31 Outstanding Equity Awards at Fiscal Year-End 31 Option Exercises 32 Equity Compensation Plan Information 32 Supplemental Retirement Benefits 32 Potential Payments upon Termination or Change-in-Control 33 Pay Ratio Disclosure 33 Pay versus Performance 34 Director Compensation 38 Stock Ownership 40 Certain Beneficial Owners 40 Directors and Officers 41 Delinquent 16(a) Reports 42 Proposals for the 2025 Annual Meeting of Shareholders 42 Other Matters 42 Appendix A: BancFirst Corporation Resolution to Amend the Directors' Deferred Stock Compensation Plan A- 1 BancFirst Corporation 100 N. Broadway Ave. Oklahoma City, Oklahoma 73102 PROXY STATEMENT We are providing these proxy materials in connection with the solicitation of proxies by the Board of Directors of BancFirst Corporation to be used at our 2024 Annual Meeting of Shareholders (the "Annual Meeting"). In this Proxy Statement, we refer to the Board of Directors as the "Board," to BancFirst Corporation as "we," "us," "our" or the "Company," and to our wholly-owned subsidiaries, BancFirst as "BancFirst", Pegasus Bank as "Pegasus" and Worthington Bank as "Worthington." This Proxy Statement, the accompanying proxy card or voter instruction card and our 2023 Annual Report on Form 10K were first mailed to shareholders on or about April 11, 2024. This Proxy Statement contains important information for you to consider when deciding how to vote on the matters brought before the Annual Meeting. Please read it carefully. ABOUT THE AN NUAL MEETING What matters will be voted on at the Annual Meeting? You will b

View Full Filing

View this DEF 14A filing on SEC EDGAR