First Horizon Corp Files Definitive Proxy Statement (DEF 14A)

Ticker: FHN-PH · Form: DEF 14A · Filed: Mar 11, 2024 · CIK: 36966

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Corporate Governance, Executive Compensation, Shareholder Proposals

TL;DR

<b>First Horizon Corp has filed its Definitive Proxy Statement for the fiscal year ended December 31, 2023.</b>

AI Summary

FIRST HORIZON CORP (FHN-PH) filed a Proxy Statement (DEF 14A) with the SEC on March 11, 2024. Filing Type: DEF 14A (Definitive Proxy Statement). Reporting Period: Fiscal year ended December 31, 2023. Filed As Of Date: March 11, 2024. Company Name: FIRST HORIZON CORP. IRS Number: 620803242.

Why It Matters

For investors and stakeholders tracking FIRST HORIZON CORP, this filing contains several important signals. This filing provides detailed information about the company's executive compensation, board of directors, and shareholder proposals, which are crucial for investors to understand governance and potential future strategies. As a DEF 14A filing, it signifies the company is seeking shareholder approval for matters such as director elections and executive compensation plans, directly impacting corporate decision-making and shareholder rights.

Risk Assessment

Risk Level: low — FIRST HORIZON CORP shows low risk based on this filing. The filing is a routine proxy statement, indicating standard corporate governance procedures rather than immediate financial distress or significant strategic shifts.

Analyst Insight

Review the executive compensation details and any shareholder proposals to assess management's alignment with shareholder interests and potential impacts on future company performance.

Key Numbers

Key Players & Entities

FAQ

When did FIRST HORIZON CORP file this DEF 14A?

FIRST HORIZON CORP filed this Proxy Statement (DEF 14A) with the SEC on March 11, 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 HORIZON CORP (FHN-PH).

Where can I read the original DEF 14A filing from FIRST HORIZON 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 FIRST HORIZON CORP.

What are the key takeaways from FIRST HORIZON CORP's DEF 14A?

FIRST HORIZON CORP filed this DEF 14A on March 11, 2024. Key takeaways: Filing Type: DEF 14A (Definitive Proxy Statement). Reporting Period: Fiscal year ended December 31, 2023. Filed As Of Date: March 11, 2024.

Is FIRST HORIZON CORP a risky investment based on this filing?

Based on this DEF 14A, FIRST HORIZON CORP presents a relatively low-risk profile. The filing is a routine proxy statement, indicating standard corporate governance procedures rather than immediate financial distress or significant strategic shifts.

What should investors do after reading FIRST HORIZON CORP's DEF 14A?

Review the executive compensation details and any shareholder proposals to assess management's alignment with shareholder interests and potential impacts on future company performance. The overall sentiment from this filing is neutral.

How does FIRST HORIZON CORP compare to its industry peers?

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

Are there regulatory concerns for FIRST HORIZON CORP?

This filing is a DEF 14A, a standard SEC form for companies to provide information to shareholders before their annual meeting.

Industry Context

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

Regulatory Implications

This filing is a DEF 14A, a standard SEC form for companies to provide information to shareholders before their annual meeting.

What Investors Should Do

  1. Analyze the compensation packages for named executive officers.
  2. Review any proposed amendments to equity incentive plans.
  3. Examine shareholder proposals and management's recommendations.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure for corporate governance and shareholder matters, not a direct comparison to a prior period's financial performance.

Filing Stats: 4,719 words · 19 min read · ~16 pages · Grade level 13.1 · Accepted 2024-03-11 16:14:07

Key Financial Figures

Filing Documents

Executive Compensation

Executive Compensation AREA FIRST HORIZON PROXY PAGE NUMBER Independent consultant for the Compensation Committee Meridian Compensation Partners, LLC 24 Frequency of say on pay vote? Annual 49 Clawback policies? Yes* 76 Clawback features in award plans? Yes, long-term and annual bonus 76 Below-market options allowed? Only in substitution, in a merger, limited to 5% of plan authorization 66 Stock ownership guidelines for executives? Yes 76 Executive-level employment agreements? 1, with the CEO** 88 Portion of CEO's 2023 TDC that is performance-based 61% 64 Portion of CEO's 2023 TDC that is stock-based 60% 64 Change in control (CIC) severance program? Yes; executive plan & legacy agreements 90 Single-trigger CIC severance benefits? No 90 Range of CIC severance benefit 1.5 to 3.0 times salary & bonus 90 Named Executive Officers in CIC severance program 5 out of 5 90 Tax gross-up paid on CIC severance benefit? No 90 *Our Compensation Recovery Policy and our Erroneously Awarded Compensation Recovery Policy are both available on our website at https://ir.firsthorizon.com (click on "Investor Relations," then "Corporate Governance," and then "Governance Documents"). ** See Jordan Employment Agreement beginning on page 88 for details. 5 2024 PROXY STATEMENT ANNUAL MEETING MATTERS Annual Meeting Matters Our Board of Directors is soliciting proxies to be voted at our upcoming annual meeting of the holders of First Horizon's common stock (and at any adjournment or adjournments of the meeting). At the meeting, our common shareholders will act to elect 13 directors; to approve an amendment to our 2021 Incentive Plan to increase the number of shares authorized for issuance as awards under the plan; to ratify the appointment of KPMG LLP as our independent auditors for 2024; and to vote on an advisory resolution to approve executive compensation ("say on pay"). Date, Time and Place The annual meeting of the holders of our common stock w

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