Christy K. Daboval
BOK FINANCIALAbout Christy K. Daboval
Christy K. Daboval, age 61, is Executive Vice President and Chief Credit Officer (appointed January 2025). She oversees Credit Administration across credit approval, policy administration, loan portfolio reporting, appraisal review, and workouts; she joined BOK Financial in 1987 and held senior credit risk leadership roles for seven years prior to her promotion, most recently as SVP, Executive Director of Credit Risk . Company performance context: BOKF emphasizes relative EPS growth versus peers in pay design and tracks TSR versus the KBW Regional Banking Index; the proxy’s pay-versus-performance section highlights EPS and TSR linkages in compensation outcomes . Recent company revenues rose through FY2024 (see table below).
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BOK Financial | EVP & Chief Credit Officer | Jan 2025–Present | Leads all Credit Administration functions: approval, policy, portfolio reporting, appraisal review, and workouts |
| BOK Financial | SVP, Executive Director of Credit Risk | Seven years prior to Jan 2025 | Senior leadership of credit risk organization; prepared for elevation to CCO |
| BOK Financial | Various roles | Since 1987 | Long-tenured institutional knowledge across credit functions |
External Roles
None disclosed in the 2025 proxy biography for Ms. Daboval .
Fixed Compensation
No individual base salary or annual bonus disclosure for Ms. Daboval appears in the FY2024 proxy (she was appointed EVP & CCO in January 2025, outside the 2024 NEO cohort) . Company methodology uses peer medians to set base pay for named executives; 2024 peer comparisons are shown for NEOs but do not include Daboval .
Performance Compensation
Company-wide Executive Incentive Plan mechanics (applies to senior executives who participate; NEO weightings shown for FY2024, not specific to Daboval):
| Metric | Definition | Payout Curve | Notes |
|---|---|---|---|
| Earnings Per Share Performance (Annual) | Company’s two-year average EPS growth percentile vs Performance Peers | 0% if <30th percentile; 33% at 30th; 100% at 50th; 200% at ≥80th | Drives majority of annual incentive for NEOs; CEO had 80% EPS weighting; other NEOs 40–60% |
| Business Performance (Annual) | Two-year average business unit contribution vs plan | 0% if <80%; 33% at 80%; 100% at 100%; 200% at ≥120% | Applied to non-CEO NEOs by unit (Wealth Mgmt, Regional Banking, Specialized Industries) |
| Strategic Objectives (Annual) | CEO-set, Committee-approved objectives | Fixed 20% of annual incentive | Management reviews achievement and Committee approves payout |
| LTI – Performance RS/RSUs | Three-year EPS growth percentile vs peers (measured at 2-year anniversary) | 0% if <30th; 33% at 30th; 100% at 50th; 200% at ≥80th; potential “exceeding target” additional grant if >100% | CEO’s LTI 100% performance-based; other NEOs 70% performance / 30% service in 2024 |
| LTI – Service RS/RSUs | Time-based vesting | Vests at 3rd anniversary; 2-year post-vest holding requirement | Applies to service shares/units |
Program observation: The performance-based long-term awards paid zero in each of the last two performance periods (ending 12/31/2022 and 12/31/2023) due to legacy peer methodology; the peer group method was updated and applies to performance periods ending 12/31/2025 onward .
Equity Ownership & Alignment
| Item | Policy/Status |
|---|---|
| Stock ownership guidelines | Executives must retain Company stock equal to a multiple of base salary; multiples vary by position and are reviewed annually . Calculation uses a Q1 90-day average price ($84.77 for Q1 2024); unvested service shares, performance shares, and options do not count . |
| Hedging & pledging | The Company permits hedging transactions by employees, officers, and directors; Insider Trading Policy governs timing and compliance . As context, the Company is controlled by George B. Kaiser, who had 18,073,394 shares pledged as collateral as of January 31, 2025 . |
| Beneficial ownership (individual) | The proxy’s detailed beneficial ownership table lists NEOs and directors; Christy Daboval is not individually listed, and her specific share ownership is not disclosed in the 2025 proxy . |
Employment Terms
| Term | Details |
|---|---|
| Change-of-control vesting | If terminated other than for cause within one year after a change of control, all unvested service- and performance-based shares vest (double-trigger acceleration) . |
| Severance & agreements | Executive officers receive standard severance based on service tenure; named executives have additional severance per employment agreements (NEO-only details disclosed) . |
| Non-solicit | Two years following termination for cause; one year following termination for any other reason; $3,000 per year paid in arrears during the non-solicit period . |
| Grant timing | Annual equity grant date occurs at the February Compensation Committee meeting; no timing around MNPI disclosures . |
| Clawback | Board may recoup improperly paid incentive compensation based on incorrect financial information; formal Clawback Policy filed with 2023 Annual Report (Feb 21, 2024) . |
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $643,257,000 | $789,949,000 | $839,641,000 |
Note: Values retrieved from S&P Global via GetFinancials; citations reflect source documents as provided by the tool.
Governance context: BOKF is a “controlled company” under NASDAQ rules due to Mr. Kaiser’s ~59.08% beneficial ownership, exempting BOKF from certain independent director requirements for compensation and nominations; the Company still maintains a substantial majority of independent directors and utilizes committee oversight (Compensation, Audit, Risk, Credit) . Compensation Committee members: Joseph W. Craft III (Chair), Chester E. Cadieux, III, David F. Griffin, George B. Kaiser, Steven J. Malcolm, Emmet C. Richards, Claudia S. San Pedro .
Investment Implications
- Alignment and payout risk: Daboval’s incentives will be governed by BOKF’s EPS-relative framework and three-year EPS peer vesting. Two consecutive zero LTI payouts under the legacy peer method signal high performance sensitivity; the 2025 peer methodology change could increase earnouts if relative EPS improves, reducing retention risk tied to repeated forfeitures .
- Vesting and selling pressure: Service awards vest at year three and require an additional two-year holding period, dampening near-term selling pressure; performance awards only vest when earned, then also face a two-year hold, further limiting immediate liquidity events .
- Ownership and hedging: Lack of individual ownership disclosure for Daboval limits visibility on “skin in the game.” Permitted hedging for insiders is a negative alignment signal; combined with controlled-company status and significant pledged shares by the controlling shareholder, governance scrutiny is warranted around incentive risk-taking and alignment .
- Change-of-control economics: Double-trigger acceleration of unvested equity if terminated within one year after a CoC supports retention in M&A scenarios but can create event-driven windfalls; non-solicit periods help mitigate competitive leakage post-departure .
- Credit execution focus: As CCO, Daboval’s remit directly influences portfolio quality and loss content; incentives tied to EPS and business performance imply indirect linkage to credit outcomes. Monitoring future proxy cycles for her specific targets, weights, and ownership compliance will be key to evaluating pay-for-performance rigor and retention risk .