Executive exits as Horizon Bancorp (HBNC) eliminates Chief Administration Officer role

Rhea-AI Filing Summary

Horizon Bancorp, Inc. is eliminating the position of Chief Administration Officer at the company and Horizon Bank, effective March 31, 2026. As a result, Executive Vice President and Chief Administration Officer Mark E. Secor will leave to pursue other opportunities, with no disagreement over financial, accounting, or other matters.

Subject to signing and not revoking a general release within seven days, Mr. Secor is expected to receive severance under the bank’s standard policy equal to one week of pay per full year of service, capped at 13 weeks, plus a cash bonus under the 2026 Executive Officer Bonus Plan, prorated to March 31, 2026 and payable at target.

Insights

Banking governance analyst

Horizon is restructuring an executive role with standard severance terms.

The company is removing the Chief Administration Officer position and, as a consequence, Executive Vice President Mark E. Secor will depart at the end of March 2026. The filing explicitly notes his exit is not tied to disagreements on financial, accounting, or other matters.

The compensation arrangement follows a standing severance policy, granting up to 13 weeks of pay based on tenure plus a prorated 2026 executive bonus at target, conditioned on a release that can be revoked within seven days. This looks like a routine organizational change rather than a transformative event.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 4, 2026

HORIZON BANCORP, INC.

(Exact name of registrant as specified in its charter)

Indiana			000-10792			35-1562417
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

515 Franklin Street

Michigan City, IN 46360

(Address of principal executive offices, including zip code)

(219) 879-0211

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class			Trading Symbol(s)			Name of each exchange on which registered
Common stock, no par value			HBNC			The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 3, 2026, Horizon Bancorp, Inc. (“Horizon” or the “Company”) announced the elimination of the position of Chief Administration Officer of the Company and its wholly-owned Indiana-chartered commercial bank subsidiary, Horizon Bank (the “Bank”), effective as of March 31, 2026. As a result, Mark E. Secor, the Executive Vice President, Chief Administration Officer of Horizon and the Bank, will depart from Horizon and the Bank effective as of March 31, 2026 to pursue other business opportunities. Mr. Secor’s departure is not related to any disagreement with Horizon or the Bank regarding any financial, accounting, or other matter.

In connection with his departure, Horizon and the Bank expect to enter into a customary general release of claims and confidentiality statement with Mr. Secor (the “Release”). The Release is expected to provide that, in exchange for a general release and waiver of claims and certain non-disclosure, non-disparagement, and confidentiality covenants provided by Mr. Secor, Horizon will pay a severance payment to Mr. Secor pursuant to the terms of the Bank’s severance policy generally applicable to the Bank’s employees equal to one week of pay for each full year of service based on Mr. Secor’s weekly rate of compensation in effect on his departure date, with a maximum of 13 weeks, as well as the payment of an accrued cash bonus under Horizon’s 2026 Executive Officer Bonus Plan, pro rated to March 31, 2026, payable at target. Mr. Secor will have seven days in which to revoke his acceptance of the Release. If he does not revoke his acceptance, the Release will become effective after the seven day revocation period.

Forward Looking Statements

This report may contain forward-looking statements regarding the financial performance, business prospects, growth, and operating strategies of Horizon. For these statements, Horizon claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this report should be considered in conjunction with the other information available about Horizon, including the information in the filings we make with the SEC. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. We have tried, wherever possible, to identify such statements by using words such as “anticipate,” “estimate,” “project,” “intend,” “plan,” “believe,” “will” and similar expressions in connection with any discussion of future operating or financial performance.

Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include: changes in the level and volatility of interest rates, changes in spreads on earning assets and changes in interest bearing liabilities; increased interest rate sensitivity; the aggregate effects of elevated inflation levels in recent years; loss of key Horizon personnel; increases in disintermediation; potential loss of fee income, including interchange fees, as new and emerging alternative payment platforms take a greater market share of the payment systems; estimates of fair value of certain of Horizon’s assets and liabilities; changes in

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prepayment speeds, loan originations, credit losses, market values, collateral securing loans and other assets; changes in sources of liquidity; macroeconomic conditions and their impact on Horizon and its customers; legislative and regulatory actions and reforms; changes in accounting policies or procedures as may be adopted and required by regulatory agencies; litigation, regulatory enforcement, and legal compliance risk and costs; rapid technological developments and changes; cyber terrorism and data security breaches; the rising costs of cybersecurity; the ability of the U.S. federal government to manage federal debt limits; the inability to realize cost savings or revenues or to effectively implement integration plans and other consequences associated with mergers, acquisitions, and divestitures; acts of terrorism, war and global conflicts; and supply chain disruptions and delays. These and additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in Horizon’s reports (such as the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K) filed with the SEC and available at the SEC’s website (www.sec.gov). Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Horizon does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:			March 4, 2026			HORIZON BANCORP, INC.
						By:			/s/ John R. Stewart, CFA
									John R. Stewart, CFA
									Executive Vice President & Chief Financial Officer

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FAQ

What executive change did Horizon Bancorp (HBNC) disclose in this 8-K?

Horizon Bancorp disclosed it will eliminate the Chief Administration Officer position effective March 31, 2026. As a result, Executive Vice President and Chief Administration Officer Mark E. Secor will depart Horizon and Horizon Bank on that date to pursue other business opportunities.

Is Mark E. Secor’s departure from Horizon Bancorp (HBNC) due to any disagreement?

The company states that Mark E. Secor’s departure is not related to any disagreement with Horizon or Horizon Bank on financial, accounting, or other matters. This language indicates the exit is tied to the role elimination, not a dispute over company practices or reporting.

What severance will Mark E. Secor receive from Horizon Bancorp (HBNC)?

Horizon expects to pay severance under its bank severance policy: one week of pay for each full year of service, capped at 13 weeks. He is also expected to receive a cash bonus under the 2026 Executive Officer Bonus Plan, prorated to March 31, 2026 and payable at target.

What conditions apply to Mark E. Secor’s severance from Horizon Bancorp (HBNC)?

Severance is conditioned on Mr. Secor signing a general release of claims with confidentiality, non-disclosure, and non-disparagement covenants. He then has seven days to revoke his acceptance; if he does not revoke within that period, the release becomes effective and payments follow.

When does the executive role elimination at Horizon Bancorp (HBNC) take effect?

The elimination of the Chief Administration Officer position at Horizon Bancorp and Horizon Bank takes effect March 31, 2026. On that same date, Executive Vice President and Chief Administration Officer Mark E. Secor will depart from the company and its bank subsidiary.

Does Horizon Bancorp (HBNC) discuss risks or forward-looking statements in this filing?

Yes. The company includes forward-looking statements about financial performance and strategy, warning that actual results may differ due to risks like interest rate changes, inflation, cybersecurity, regulatory actions, macroeconomic conditions, and merger integration, as detailed in its other SEC reports.

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