FIRST COMMONWEALTH FINANCIAL CORP /PA/ DEF 14A Filing

Ticker: FCF · Form: DEF 14A · Filed: Mar 14, 2024 · CIK: 712537

First Commonwealth Financial CORP /Pa/ DEF 14A Filing Summary
FieldDetail
CompanyFirst Commonwealth Financial CORP /Pa/ (FCF)
Form TypeDEF 14A
Filed DateMar 14, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$206,875, $400,000, $100,000
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, FCF, Corporate Governance, Shareholder Meeting

TL;DR

<b>FIRST COMMONWEALTH FINANCIAL CORP /PA/ files its Definitive Proxy Statement (DEF 14A) for the fiscal year ending December 31, 2023.</b>

AI Summary

FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) filed a Proxy Statement (DEF 14A) with the SEC on March 14, 2024. This filing is a DEF 14A (Definitive Proxy Statement) for FIRST COMMONWEALTH FINANCIAL CORP /PA/. The filing covers the period ending December 31, 2023. The company's Central Index Key (CIK) is 0000712537. The Standard Industrial Classification (SIC) code is 6021 (National Commercial Banks). The company is incorporated in Pennsylvania (PA).

Why It Matters

For investors and stakeholders tracking FIRST COMMONWEALTH FINANCIAL CORP /PA/, this filing contains several important signals. This DEF 14A filing provides detailed information to shareholders regarding the company's annual meeting, executive compensation, and other corporate governance matters. As a publicly traded company, FCF is required to file this statement to ensure transparency and compliance with SEC regulations, allowing shareholders to make informed voting decisions.

Risk Assessment

Risk Level: low — FIRST COMMONWEALTH FINANCIAL CORP /PA/ shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate risk.

Analyst Insight

Review the executive compensation details and any proposals to be voted on at the shareholder meeting to understand potential impacts on corporate governance and shareholder value.

Key Numbers

Key Players & Entities

FAQ

When did FIRST COMMONWEALTH FINANCIAL CORP /PA/ file this DEF 14A?

FIRST COMMONWEALTH FINANCIAL CORP /PA/ filed this Proxy Statement (DEF 14A) with the SEC on March 14, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF).

Where can I read the original DEF 14A filing from FIRST COMMONWEALTH FINANCIAL CORP /PA/?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by FIRST COMMONWEALTH FINANCIAL CORP /PA/.

What are the key takeaways from FIRST COMMONWEALTH FINANCIAL CORP /PA/'s DEF 14A?

FIRST COMMONWEALTH FINANCIAL CORP /PA/ filed this DEF 14A on March 14, 2024. Key takeaways: This filing is a DEF 14A (Definitive Proxy Statement) for FIRST COMMONWEALTH FINANCIAL CORP /PA/.. The filing covers the period ending December 31, 2023.. The company's Central Index Key (CIK) is 0000712537..

Is FIRST COMMONWEALTH FINANCIAL CORP /PA/ a risky investment based on this filing?

Based on this DEF 14A, FIRST COMMONWEALTH FINANCIAL CORP /PA/ presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate risk.

What should investors do after reading FIRST COMMONWEALTH FINANCIAL CORP /PA/'s DEF 14A?

Review the executive compensation details and any proposals to be voted on at the shareholder meeting to understand potential impacts on corporate governance and shareholder value. The overall sentiment from this filing is neutral.

How does FIRST COMMONWEALTH FINANCIAL CORP /PA/ compare to its industry peers?

FIRST COMMONWEALTH FINANCIAL CORP /PA/ operates within the National Commercial Banks industry.

Are there regulatory concerns for FIRST COMMONWEALTH FINANCIAL CORP /PA/?

As a financial institution, the company is subject to regulations from the Securities and Exchange Commission (SEC) and other relevant financial authorities.

Industry Context

FIRST COMMONWEALTH FINANCIAL CORP /PA/ operates within the National Commercial Banks industry.

Regulatory Implications

As a financial institution, the company is subject to regulations from the Securities and Exchange Commission (SEC) and other relevant financial authorities.

What Investors Should Do

  1. Review the proxy statement for details on upcoming shareholder votes.
  2. Examine executive compensation packages and any proposed changes.
  3. Note the company's fiscal year end and reporting period.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a definitive proxy statement. Specific comparative data from a previous filing is not immediately available in this excerpt.

Filing Stats: 4,478 words · 18 min read · ~15 pages · Grade level 13.2 · Accepted 2024-03-14 16:06:18

Key Financial Figures

Filing Documents

Executive Compensation

Executive Compensation 22 Compensation Discussion and Analysis 22 Executive Summary 22

Executive Compensation Philosophy and Objectives

Executive Compensation Philosophy and Objectives 26 Elements of Compensation 26 The Decision-Making Process 28

Executive Compensation Decisions in 2023

Executive Compensation Decisions in 2023 32 Other Compensation Practices, Policies and Guidelines 34 Compensation Committee Report 36 Summary Compensation Table 37 Grants of Plan-Based Awards 38 Outstanding Equity Awards at Fiscal Year-End 39 Option Exercises and Stock Vested 40 Nonqualified Deferred Compensation 40 Pay Versus Performance 41 Compensation Policies and Practices Relating to Risk Management 44 Potential Payments Upon Termination or Change of Control 45 Ratio of CEO Pay to Median Employee Pay 48 Proposal 4 – Approval of the First Commonwealth Financial Corporation 2024 Stock Plan 49 Section 16(a) Beneficial Ownership Reporting Compliance 59 Related Party Transactions 60 Annual Meeting Information 61 Requirements for Director Nominations and Shareholder Proposals 64 "Householding" of Proxy Materials 67 Annual Report on Form 10-K 67 Accessing Proxy Materials 67 Annex A – First Commonwealth Financial Corporation 2024 Stock Plan F IRST Commonwealth 2024 Proxy Statement i Table of Contents Proxy Statement for the First Commonwealth Financial Corporation 2024 Annual Meeting of Shareholders We are sending this proxy statement and the accompanying proxy card to you as a shareholder of First Commonwealth Financial Corporation in connection with the solicitation of proxies for the Annual Meeting of Shareholders (the "Annual Meeting"). First Commonwealth's Board of Directors is soliciting proxies for use at the Annual Meeting or at any postponement or adjournment of the Annual Meeting. Only shareholders of record as of the close of business on March 1, 2024 will be entitled to vote at the Annual Meeting. In this proxy statement, the "Company," "First Commonwealth," "we," "our" or "us" all refer to First Commonwealth Financial Corporation and its subsidiaries. We also refer to the Board of Directors of First Commonwealth Financial Corporation as the "Board." Proxy Su

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