UMB Financial Corp. Files Definitive Proxy Statement

Ticker: UMBFO · Form: DEF 14A · Filed: Mar 13, 2024 · CIK: 101382

Umb Financial Corp DEF 14A Filing Summary
FieldDetail
CompanyUmb Financial Corp (UMBFO)
Form TypeDEF 14A
Filed DateMar 13, 2024
Risk Levelmedium
Pages16
Reading Time19 min
Key Dollar Amounts$1.00, $11,000
Sentimentneutral

Sentiment: neutral

Topics: proxy statement, executive compensation, corporate governance, UMB Financial, DEF 14A

TL;DR

<b>UMB Financial Corp. filed its DEF 14A proxy statement on March 13, 2024, detailing executive compensation and corporate governance for the period ending April 30, 2024.</b>

AI Summary

UMB FINANCIAL CORP (UMBFO) filed a Proxy Statement (DEF 14A) with the SEC on March 13, 2024. UMB Financial Corp. filed a DEF 14A form on March 13, 2024. The filing covers the period ending April 30, 2024. The company's fiscal year ends on December 31. UMB Financial Corp. is classified under SIC code 6021 (National Commercial Banks). The filing includes detailed information on executive compensation and equity awards for PEO and Non-PEO members.

Why It Matters

For investors and stakeholders tracking UMB FINANCIAL CORP, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation, stock performance, and voting matters, enabling informed decisions at the upcoming shareholder meeting. As a DEF 14A filing, it outlines the company's governance structure and executive pay practices, which are key factors for investors assessing management alignment and long-term strategy.

Risk Assessment

Risk Level: medium — UMB FINANCIAL CORP shows moderate risk based on this filing. The filing is a routine proxy statement, but the complexity of executive compensation details and potential shareholder votes introduce a medium level of risk.

Analyst Insight

Review the executive compensation details and any proposed shareholder resolutions to understand potential impacts on shareholder value and corporate governance.

Key Numbers

  • 2023-01-01 to 2023-12-31 — Fiscal Year 2023 (Reporting Period for Equity Awards)
  • 2022-01-01 to 2022-12-31 — Fiscal Year 2022 (Reporting Period for Equity Awards)
  • 2021-01-01 to 2021-12-31 — Fiscal Year 2021 (Reporting Period for Equity Awards)
  • 2020-01-01 to 2020-12-31 — Fiscal Year 2020 (Reporting Period for Equity Awards)

Key Players & Entities

  • UMB FINANCIAL CORP (company) — Filer
  • 0001193125-24-066457 (filing_id) — Accession Number
  • 20240313 (date) — Filing Date
  • 20240430 (date) — Period of Report
  • 6021 (industry_code) — Standard Industrial Classification
  • MO (state) — State of Incorporation
  • 1010 GRAND AVE (address) — Business Address
  • KANSAS CITY (city) — Business Address City

FAQ

When did UMB FINANCIAL CORP file this DEF 14A?

UMB FINANCIAL CORP filed this Proxy Statement (DEF 14A) with the SEC on March 13, 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 UMB FINANCIAL CORP (UMBFO).

Where can I read the original DEF 14A filing from UMB FINANCIAL CORP?

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 UMB FINANCIAL CORP.

What are the key takeaways from UMB FINANCIAL CORP's DEF 14A?

UMB FINANCIAL CORP filed this DEF 14A on March 13, 2024. Key takeaways: UMB Financial Corp. filed a DEF 14A form on March 13, 2024.. The filing covers the period ending April 30, 2024.. The company's fiscal year ends on December 31..

Is UMB FINANCIAL CORP a risky investment based on this filing?

Based on this DEF 14A, UMB FINANCIAL CORP presents a moderate-risk profile. The filing is a routine proxy statement, but the complexity of executive compensation details and potential shareholder votes introduce a medium level of risk.

What should investors do after reading UMB FINANCIAL CORP's DEF 14A?

Review the executive compensation details and any proposed shareholder resolutions to understand potential impacts on shareholder value and corporate governance. The overall sentiment from this filing is neutral.

How does UMB FINANCIAL CORP compare to its industry peers?

UMB Financial Corp. operates within the National Commercial Banks industry, providing a range of financial services.

Are there regulatory concerns for UMB FINANCIAL CORP?

As a publicly traded company, UMB Financial Corp. is subject to SEC regulations, including the requirement to file proxy statements (DEF 14A) for shareholder meetings.

Industry Context

UMB Financial Corp. operates within the National Commercial Banks industry, providing a range of financial services.

Regulatory Implications

As a publicly traded company, UMB Financial Corp. is subject to SEC regulations, including the requirement to file proxy statements (DEF 14A) for shareholder meetings.

What Investors Should Do

  1. Analyze the executive compensation structure and any changes proposed.
  2. Review shareholder proposals and voting recommendations.
  3. Understand the company's performance metrics as presented in the proxy statement.

Key Dates

  • 2024-03-13: Filing Date — Definitive Proxy Statement (DEF 14A) filed.
  • 2024-04-30: Period of Report End Date — The reporting period for the proxy statement.
  • 1992-07-03: Name Change Date — Date of name change from UNITED MISSOURI BANCSHARES INC.
  • 1971-09-15: Name Change Date — Date of name change from MISSOURI BANCSHARES INC.

Year-Over-Year Comparison

This is the initial filing of the DEF 14A for the 2024 proxy season, detailing executive compensation and corporate governance for the upcoming shareholder meeting.

Filing Stats: 4,821 words · 19 min read · ~16 pages · Grade level 13.1 · Accepted 2024-03-13 09:00:51

Key Financial Figures

  • $1.00 — common stock, par value of one dollar ($1.00) per share (" UMB stock "), at the clos
  • $11,000 — he solicitation of proxies for a fee of $11,000 plus disbursements. In addition to ou

Filing Documents

Executive Compensation for 2023

Executive Compensation for 2023 34 General Considerations for 2023 34 Base Salary 34 Short-Term Cash Incentive Compensation 34 Table of Contents Long-Term Incentive Compensation 37 Other Benefits and Perquisites 39 Other Executive Compensation Policies and Practices 40 No Employment Agreements 40 40 No Hedging of UMB Stock 40 Claw Back of Compensation 41 Say-On-Pay Advisory Vote 41 Performance Units Certified in January 2024 as Having Vested under the 2021 Long-Term Program 41 Deferred Compensation Plan 42 Additional Payments or Benefits 42

Executive Compensation Actions in 2024

Executive Compensation Actions in 2024 43 COMPENSATION COMMITTEE REPORT 44 COMPENSATION POLICIES AND PRACTICES RELATING TO RISK MANAGEMENT 44 COMPENSATION TABLES 45 2023 Summary Compensation 45 2023 Grants of Plan Based Awards 46 2023 Outstanding Equity Awards at Fiscal Year-End 47 2023 Option Exercises and Stock Vested 48 2023 Nonqualified Deferred Compensation 49 Potential Payments upon Termination or Change in Control 50 Pay Versus Performance 53 Pay Ratio Disclosure 58 PROPOSAL #2—ADVISORY VOTE (NON-BINDING) ON THE COMPENSATION PAID TO OUR NAMED EXECUTIVE OFFICERS ("SAY-ON-PAY") 59 PROPOSAL #3—RATIFICATION OF THE CORPORATE AUDIT COMMITTEE'S ENGAGEMENT OF KPMG LLP AS UMB'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2024 60 Independent Registered Public Accounting Firm Fees 61 Report of the Corporate Audit Committee 62 PROPOSAL #4—APPROVAL OF AN AMENDMENT TO THE UMB FINANCIAL CORPORATION OMNIBUS INCENTIVE COMPENSATION PLAN TO INCREASE THE MAXIMUM NUMBER OF SHARES AVAILABLE FOR ISSUANCE THEREUNDER 63 INFORMATION ABOUT THE DELIVERY OF PROXY MATERIALS 70 SHAREHOLDER PROPOSALS 71 Table of Contents UMB FINANCIAL CORPORATION 1010 Grand Boulevard Kansas City, Missouri 64106 PROXY STATEMENT GENERAL INFORMATION This Proxy Statement and the related form of proxy are first being sent, given, or made available by UMB Financial Corporation (" we " or " UMB " or the " Company ") on or about March 13, 2024, to the shareholders of record of our common stock, par value of one dollar ($1.00) per share (" UMB stock "), at the close of business on March 1, 2024 (the " record date "), in connection with our 2024 virtual annual meeting of shareholders and any adjournment or postponement of the meeting (the " Annual Meeting "). The Annual Meeting will be held at 9:00 a.m. CDT on April 30, 2024, for the purposes described in this Proxy Statement. The Annual Meeting is held in a virtual format

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