Velocity Financial (VEL) has released an update.
Velocity Financial’s Board of Directors has set up incentive programs for top executives, with rewards linked to the company’s financial performance. The 2024 Annual Cash Incentive Program hinges on the year’s Core Net Income growth, offering substantial bonuses for meeting or exceeding targets. Additionally, the 2024 Performance Stock Units Program could grant executives a significant number of shares, depending on the average Core Net Income growth over three years. Both programs emphasize individual performance and contribution to strategic goals, with final payouts subject to committee approval after the fiscal years end.
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