How Shaffer was paid
$4.5M 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 | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Charles M. ShafferChairman and Chief Executive Officer | $991,375 | — | $1,500,000 | $161,930 | $78,093 | $4,481,361 |
| Tracey L. DexterEVP, Chief Financial Officer | $483,906 | $424,958 | $525,000 | — | $41,210 | $1,475,074 |
| Joseph M. ForlenzaEVP, Chief Risk Officer | $469,250 | $424,958 | $412,500 | — | $33,035 | $1,339,743 |
| Juliette P. KleffelEVP, Chief Operating Officer | $568,750 | $524,994 | $562,500 | — | $56,214 | $1,712,458 |
| Austen D. CarrollEVP, Chief Lending Officer | $518,750 | $524,994 | $562,500 | — | $44,852 | $1,651,096 |
What changed and why
- $4.5MCEO total compensation increased to $4,481,361 in 2025 compared to $3,860,417 in 2024.
- 61%Prior year say-on-pay support fell to 61% leading to enhanced shareholder outreach.
- 9%Organic loan growth reached 9% and adjusted pre-tax pre-provision earnings increased 45%.
- 75%Performance share units represent 75% of long-term incentive awards for executives.
- Board appointed three new directors and moved to declassify the board.
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.