OKLAHOMA CITY - BancFirst (NASDAQ:BANF) Corporation (NASDAQ:BANF) announced today the appointment of Kim Ingram as a new member of its Board of Directors. Ingram will officially join the board at the upcoming meeting scheduled for Thursday, September 26, 2024, and will serve until the annual shareholders meeting in May 2025.
Ingram, a Western Oklahoma native and CEO of Kelly Jewelers in Weatherford, brings a wealth of community and professional experience to the role. A graduate of Oklahoma State University with a Bachelor of Science in Accounting, her background will contribute to the company's strategic oversight. There are no reported conflicts of interest or related party transactions between Ingram and BancFirst Corporation.
Her compensation aligns with the company's existing fee schedule for outside directors, detailed in the proxy statement from April 3, 2024. Additionally, she will receive restricted stock units under the BancFirst Corporation 2023 Restricted Stock Unit Plan, with specific terms to be established at a later time.
BancFirst's non-employee directors have the option to defer their board fees through the Directors’ Deferred Stock Compensation Plan. Through this plan, directors can defer up to 100% of their fees, receiving stock units at the current market price of BancFirst's stock. These units accumulate and are converted to common stock upon the director's departure from the board.
This latest corporate governance development is part of BancFirst's ongoing commitment to strong board leadership and is based on a press release statement filed with the SEC. The appointment of Ingram is expected to bring new insights and enhance the board's expertise as BancFirst continues to serve its community and stakeholders.
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