How Otting was paid
$7.7M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Bonus | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|---|
| Joseph M. OttingExecutive Chairman, President and CEO | $1,250,000 | — | $3,000,000 | $3,375,000 | $30,500 | $7,655,500 |
| Lee. M. SmithSenior EVP/ Chief Financial Officer | $700,000 | — | $1,050,000 | — | $43,309 | $1,793,309 |
| Bao NguyenSenior EVP/General Counsel and Chief of Staff | $700,000 | $690,000 | $600,000 | $1,050,000 | $135,428 | $3,175,428 |
| Kris GagnonSenior EVP/ Chief Credit Officer | $700,000 | — | $600,000 | $770,000 | $10,012 | $2,080,012 |
| George BuchananSenior EVP/Chief Risk Officer | $625,000 | — | $750,000 | $625,000 | $15,122 | $2,015,122 |
What changed and why
- $7.7M$7,655,500 CEO total compensation in 2025, down from $34,817,072 in 2024.
- $3M$3,000,000 CEO stock award and $3,375,000 annual incentive compensation were reported for 2025.
- Long-term incentives combine performance-based and time-based equity awards supporting multiyear objectives and retention.
- Annual incentives are tied to financial, operational, and strategic goals.
- Aggregate current-year LTI value was modestly lower because prior-year stock options reduced required new equity distribution.
- $690K$690,000 one-time cash bonus was reported for General Counsel Bao Nguyen.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.