Designing remuneration policies and determining remuneration involves researching industry benchmarks, defining organizational objectives, analyzing job roles, comparing with market data, incorporating variable pay structures and benefits, ensuring legal compliance, maintaining transparent communication, integrating with performance management, reviewing and adjusting regularly, gathering feedback, and applying continuous improvement. This iterative process supports equitable practices, competitiveness, and alignment with organizational goals while attracting, retaining, and motivating talent.
At the 2024 annual meeting of shareholders, the say-on pay resolution was approved by more than 96% of the shares present for purposes of voting on executive compensation. Details can be found in Banner Corporation's most recent Proxy Statement (page 37).