Federal Home Loan Bank of Indianapolis 8-K

What Happened

• The Federal Home Loan Bank of Indianapolis' Board approved a 2026 incentive compensation plan on December 11, 2025, effective January 1, 2026. The plan (the "2026 Plan") provides annual and deferred cash award opportunities for the CEO, CFO, other named executive officers and certain employees. The Federal Housing Finance Agency issued a non‑objection to the plan on January 26, 2026. The 8‑K was signed by Gregory L. Teare, EVP & Chief Financial Officer, and filed January 27, 2026.

Key Details

• Approval and timing: Board approved Dec 11, 2025; effective Jan 1, 2026; FHFA non‑objection received Jan 26, 2026.
• Award types and periods: annual awards (performance period ends Dec 31, 2026) and deferred awards (performance period ends Dec 31, 2029).
• Maximum award opportunities (as % of Compensation): CEO — 50% annual / 50% deferred; Executive VP — 40% / 40%; Senior VP — 35% / 35%. "Compensation" generally means the participant’s annualized base salary at period end. No award may exceed 100% of a participant’s Compensation.
• Adjustment mechanics: deferred awards can be reduced up to 100% if below threshold or increased up to 25% if performance exceeds target.
• Performance goals: annual goals include return on capital stock, member advances/participation, AHP and voluntary program engagement, affordable housing supply, risk metrics, and training/engagement events; deferred goals focus on regulatory capital‑to‑assets ratio and prudential management standards.

Why It Matters

• This filing shows how the Bank ties executive pay to specific mission and financial metrics, which can influence management priorities and risk oversight. The plan’s percentages and caps give a sense of potential cash payouts relative to base salary, and the FHFA non‑objection indicates regulatory acceptance of the structure. Investors should note the performance measures and multi‑year deferred component when assessing management incentives and potential future cash outflows.