XML 57 R2.htm IDEA: XBRL DOCUMENT v3.24.1
Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure [Table]        
Pay vs Performance [Table Text Block]

Pay Versus Performance Disclosure

 

Pursuant to Section 953(a) of the Dodd-Frank Act and Item 402(v) of Regulation S-K, Fulton is providing the following information about the relationship between executive compensation actually paid (“CAP”) to Fulton’s principal executive officer (“PEO”) and non-PEO named executive officers (the “Non-PEO NEOs”) and certain aspects of the financial performance of Fulton. The HR Committee does not utilize CAP as the basis for making compensation decisions. Please see the CD&A with respect to our compensation philosophy and how we align executive compensation with our performance.

 

 
Pay Versus Performance Table
 Year(1)  Summary
Compensation
Table Total for
PEO
(2)
Compensation
Actually Paid
to PEO
(3)
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs
(2)
Average
Compensation
Actually Paid
to Non-PEO
NEOs
(3)
Value of Initial Fixed $100 Investment
Based on:
(4)
Net
Income
(GAAP)
(6)
Company
Selected
Metric:
Adjusted EPS
(7)
TSR Peer Group
TSR
(5)
(a) (b) (c) (d) (e) (f) (g) (h) (i)
2023 $2,309,440 $2,862,798 $999,817 $1,196,969 $111.02 $95.12 $284 $1.70
2022 $4,923,557 $5,537,243 $1,541,616 $1,675,245 $108.96 $101.92 $287 $1.76
2021 $4,207,894 $5,365,077 $1,395,455 $1,745,204 $106.37 $124.84 $275 $1.62
2020 $3,084,495 $2,225,418 $1,082,224 $821,870 $76.52 $89.37 $178 $1.08
     
Company Selected Measure Name Adjusted EPS      
Named Executive Officers, Footnote [Text Block]

(1) Mr. Myers served as the PEO for the entirety of 2023. Mr. Wenger served as the PEO for the entirety of 2022, 2021 and 2020 and our Non-PEO NEOs for the applicable years were as follows:

2023: Mark R. McCollom, Angela M. Snyder, Meg R. Mueller and Beth Ann L. Chivinski;
2022: Curtis J. Myers, Mark R. McCollom, Angela M. Snyder and Natasha R. Luddington;
2021: Curtis J. Myers, Mark R. McCollom, Angela M. Snyder and Meg R. Mueller; and
2020: Curtis J. Myers, Mark R. McCollom, Angela M. Snyder and Beth Ann L. Chivinski.
     
Peer Group Issuers, Footnote [Text Block] (5) Peer Group total shareholder return (“Peer Group TSR”) represents the Nasdaq Bank Index, which is used by Fulton for purposes of compliance with Item 201(e) of Regulation S-K.      
PEO Total Compensation Amount $ 2,309,440 $ 4,923,557 $ 4,207,894 $ 3,084,495
PEO Actually Paid Compensation Amount $ 2,862,798 5,537,243 5,365,077 2,225,418
Adjustment To PEO Compensation, Footnote [Text Block]

(3) Amounts reported in these columns represent CAP. Adjustments were made to the amounts reported in the SCT for the applicable year. A reconciliation of the adjustments for the applicable PEO and for the average of the Non-PEO NEOs is set forth in the following table.

  2023 2022 2021 2020

PEO

Myers

Average

Non-PEO NEOs

PEO

Wenger

Average

Non-PEO NEOs

PEO

Wenger

Average

Non-PEO NEOs

PEO

Wenger

Average

Non-PEO NEOs

Summary Compensation Table Total $2,309,440 $999,817 $4,923,557 $1,541,616 $4,207,894 $1,395,455 $3,084,495 $1,082,224
Less Stock Award Value & Option Award Value Reported in SCT for the Covered Year $954,757 $379,503 $2,076,061 $462,213 $1,305,528 $395,464 $1,292,385 $393,958
Plus Year End Fair Value of Equity Awards Granted During the Covered Year that Remain Outstanding and Unvested as of Last Day of the Covered Year $1,616,090 $642,375 $2,517,933 $552,934 $1,335,263 $404,470 $1,423,841 $434,250
Plus Year over Year Change in Fair Value as of the Last Day of the Covered Year of Outstanding and Unvested Equity Awards Granted in Prior Years $191,243 $111,252 $233,715 $57,715 $944,182 $285,212 ($901,359) ($267,705)
Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered Year - - - - - - - -
Plus Year over Year Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Years that Vested During the Covered Year ($299,218) ($176,972) ($61,901) ($14,807) $183,267 $55,530 ($89,174) ($32,941)
Minus Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Covered Year - - - - - - - -
Plus Value of Dividends or other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation for the Covered Year - - - - - - - -
Compensation Actually Paid $2,862,798 $1,196,969 $5,537,243 $1,675,245 $5,365,077 $1,745,204 $2,225,418 $821,870
     
Non-PEO NEO Average Total Compensation Amount $ 999,817 1,541,616 1,395,455 1,082,224
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,196,969 1,675,245 1,745,204 821,870
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

(3) Amounts reported in these columns represent CAP. Adjustments were made to the amounts reported in the SCT for the applicable year. A reconciliation of the adjustments for the applicable PEO and for the average of the Non-PEO NEOs is set forth in the following table.

  2023 2022 2021 2020

PEO

Myers

Average

Non-PEO NEOs

PEO

Wenger

Average

Non-PEO NEOs

PEO

Wenger

Average

Non-PEO NEOs

PEO

Wenger

Average

Non-PEO NEOs

Summary Compensation Table Total $2,309,440 $999,817 $4,923,557 $1,541,616 $4,207,894 $1,395,455 $3,084,495 $1,082,224
Less Stock Award Value & Option Award Value Reported in SCT for the Covered Year $954,757 $379,503 $2,076,061 $462,213 $1,305,528 $395,464 $1,292,385 $393,958
Plus Year End Fair Value of Equity Awards Granted During the Covered Year that Remain Outstanding and Unvested as of Last Day of the Covered Year $1,616,090 $642,375 $2,517,933 $552,934 $1,335,263 $404,470 $1,423,841 $434,250
Plus Year over Year Change in Fair Value as of the Last Day of the Covered Year of Outstanding and Unvested Equity Awards Granted in Prior Years $191,243 $111,252 $233,715 $57,715 $944,182 $285,212 ($901,359) ($267,705)
Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered Year - - - - - - - -
Plus Year over Year Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Years that Vested During the Covered Year ($299,218) ($176,972) ($61,901) ($14,807) $183,267 $55,530 ($89,174) ($32,941)
Minus Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Covered Year - - - - - - - -
Plus Value of Dividends or other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation for the Covered Year - - - - - - - -
Compensation Actually Paid $2,862,798 $1,196,969 $5,537,243 $1,675,245 $5,365,077 $1,745,204 $2,225,418 $821,870
     
Equity Valuation Assumption Difference, Footnote [Text Block] In the table above, the unvested equity values are computed in accordance with ASC Topic 718. For unvested awards subject to performance-based vesting conditions, the equity value is determined based on the probable outcome of such performance-based vesting conditions as of the last day of the covered year.      
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Relationship between CAP and TSR. The graph below illustrates the relationship between TSR and the Peer Group TSR as well as the relationship between TSR and CAP for the PEO and average Non-PEO NEOs.

     
Compensation Actually Paid vs. Net Income [Text Block]

Relationship between CAP and Net Income. The graph below illustrates the relationship between Net Income and CAP for the PEO and average Non-PEO NEOs.

\\chn-fs2-svr\21003data\21005\21005\421169-1\Draft\03-Production

     
Compensation Actually Paid vs. Company Selected Measure [Text Block]

Relationship between CAP and Adjusted EPS. The graph below illustrates the relationship between Fulton’s Adjusted EPS and CAP for the PEO and average Non-PEO NEOs.

     
Tabular List [Table Text Block]

The following is a list of performance measures that represent the most important performance measures used by Fulton to link 2023 CAP to the NEOs:

Adjusted EPS;
Adjusted ROE; and
Adjusted Operating Expenses/Average Assets.
     
Total Shareholder Return Amount $ 111.02 108.96 106.37 76.52
Peer Group Total Shareholder Return Amount 95.12 101.92 124.84 89.37
Net Income (Loss) Attributable to Parent $ 284,000,000 $ 287,000,000 $ 275,000,000 $ 178,000,000
Company Selected Measure Amount | $ / shares 1.70 1.76 1.62 1.08
PEO Name Mr. Myers Mr. Wenger Mr. Wenger Mr. Wenger
Additional 402(v) Disclosure [Text Block] Pursuant to Section 953(a) of the Dodd-Frank Act and Item 402(v) of Regulation S-K, Fulton is providing the following information about the relationship between executive compensation actually paid (“CAP”) to Fulton’s principal executive officer (“PEO”) and non-PEO named executive officers (the “Non-PEO NEOs”) and certain aspects of the financial performance of Fulton. The HR Committee does not utilize CAP as the basis for making compensation decisions. Please see the CD&A with respect to our compensation philosophy and how we align executive compensation with our performance.      
Measure [Axis]: 1        
Pay vs Performance Disclosure [Table]        
Measure Name Adjusted EPS      
Non-GAAP Measure Description [Text Block] (7) Adjusted EPS is a Fulton selected measure. Values shown reflect EPS as calculated for purposes of our executive compensation program for the applicable reporting year as set forth in detail under “Non-GAAP Reconciliations” in Annex A to this Proxy Statement. No adjustments to EPS were made for 2021 and 2020.      
Measure [Axis]: 2        
Pay vs Performance Disclosure [Table]        
Measure Name Adjusted ROE      
Measure [Axis]: 3        
Pay vs Performance Disclosure [Table]        
Measure Name Adjusted Operating Expenses/Average Assets      
Non-PEO NEO [Member] | Stock Award Value & Option Award Value [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount $ 379,503 $ 462,213 $ 395,464 $ 393,958
Non-PEO NEO [Member] | Fair Value of Equity Awards Granted that Remain Outstanding and Unvested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 642,375 552,934 404,470 434,250
Non-PEO NEO [Member] | Change in Fair Value of Outstanding and Unvested Equity Awards Granted [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 111,252 57,715 285,212 (267,705)
Non-PEO NEO [Member] | Fair Value of Equity Awards Granted and Vested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount
Non-PEO NEO [Member] | Change in Fair Value of Equity Awards Granted Vested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (176,972) (14,807) 55,530 (32,941)
Non-PEO NEO [Member] | Fair Value of Equity Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount
Non-PEO NEO [Member] | Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount
Mr. Myers [Member] | PEO [Member] | Stock Award Value & Option Award Value [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 954,757      
Mr. Myers [Member] | PEO [Member] | Fair Value of Equity Awards Granted that Remain Outstanding and Unvested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 1,616,090      
Mr. Myers [Member] | PEO [Member] | Change in Fair Value of Outstanding and Unvested Equity Awards Granted [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 191,243      
Mr. Myers [Member] | PEO [Member] | Fair Value of Equity Awards Granted and Vested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount      
Mr. Myers [Member] | PEO [Member] | Change in Fair Value of Equity Awards Granted Vested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (299,218)      
Mr. Myers [Member] | PEO [Member] | Fair Value of Equity Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount      
Mr. Myers [Member] | PEO [Member] | Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount      
Mr. Wenger [Member] | PEO [Member] | Stock Award Value & Option Award Value [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount   2,076,061 1,305,528 1,292,385
Mr. Wenger [Member] | PEO [Member] | Fair Value of Equity Awards Granted that Remain Outstanding and Unvested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount   2,517,933 1,335,263 1,423,841
Mr. Wenger [Member] | PEO [Member] | Change in Fair Value of Outstanding and Unvested Equity Awards Granted [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount   233,715 944,182 (901,359)
Mr. Wenger [Member] | PEO [Member] | Fair Value of Equity Awards Granted and Vested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount  
Mr. Wenger [Member] | PEO [Member] | Change in Fair Value of Equity Awards Granted Vested [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount   (61,901) 183,267 (89,174)
Mr. Wenger [Member] | PEO [Member] | Fair Value of Equity Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount  
Mr. Wenger [Member] | PEO [Member] | Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount