UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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FEDERAL HOME LOAN BANK OF INDIANAPOLIS
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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Federally Chartered Corporation | | 35-6001443 |
(State
or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
8250 Woodfield Crossing Blvd.
(Address of Principal Executive Offices, including Zip Code)
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former name or former address, if changed since last report.)
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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 (see General Instruction A.2 below): |
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o | Written
communications pursuant to Rule 425 under the Securities Act |
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o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
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o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
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o | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
None | None | None |
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 o
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. o
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 15, 2019, the Board of Directors (“Board”) of the Federal Home Loan Bank of Indianapolis (“Bank”) approved an amended and updated Incentive Compensation Plan, including 2020 Annual Award Performance Goals and Deferred Award Performance Goals (“Performance Goals” and collectively with the Incentive Compensation Plan, “2020 Plan”), effective January 1, 2020. The 2020 Plan provides incentive compensation arrangements for certain Bank employees, including the Bank’s principal executive officer, principal financial officer and other named executive officers.
The
2020 Annual Award Performance Goals relate to specific mission goals established by the Board for the Bank’s profitability, market value of equity to capital stock, member activity (including member advances growth, member education and outreach, new or reactivated Mortgage Purchase Program users, and Community Investment Program advances), market risk excellence, minority and women inclusion, and operational excellence. In addition, the Deferred Award Performance Goals for Level I Participants (which the Bank anticipates will include the principal executive officer, principal financial officer and other named executive officers) for the three-year period covering calendar years 2021 through 2023 relate to the Bank’s profitability, retained earnings and prudential management standards, and are substantially the same as the Deferred Award Performance Goals previously adopted for the three-year measurement periods ending December
31, 2021 and December 31, 2022. The level of achievement of the Annual and Deferred Award Performance Goals for the respective measurement periods determines the value of Annual Awards and Deferred Awards, respectively, for Level I Participants.
In accordance with Federal Housing Finance Agency (“Finance Agency”) regulations, the Bank submitted the 2020 Plan to the Director of the Finance Agency for review and non-objection. On January 24, 2020, the Finance Agency informed the Bank that it has no objection to the 2020 Plan.
A copy of the 2020 Plan is set forth as Exhibit 10.1 and is incorporated in
full herein by reference. The foregoing description of the 2020 Plan does not purport to be complete and is qualified in its entirety by reference to the 2020 Plan.
Item 9.01 Financial Statements and Exhibits
SIGNATURE
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.
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FEDERAL HOME LOAN BANK OF INDIANAPOLIS |
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| By: | |
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| | President - Chief Executive Officer |
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| By: | |
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| | Executive Vice President - Chief Financial Officer |
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Exhibit Number | | Description |
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10.1 |
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