BV Financial, Inc.
For the period ended Apr 3, 2025. Filed Apr 3, 2025.
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Apr 3, 2025 · Filed Apr 3, 2025
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Contents
Summary Compensation Table
The following table sets forth for the year ended December 31, 2024 and 2023 certain information as to the total compensation paid to our Co-President and Chief Executive Officers and our two other most highly compensated executive officers whose total compensation exceeded $100,000 for the year ended December 31, 2024. Each executive is referred to as a “named executive officer.”
| Summary Compensation Table | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Name and principal position · Year · Salary ($) · Bonus($) · StockAwards ($)(1) · OptionAwards ($)(2) · NonequityIncentive PlanCompensation($) · All other Compensation($)(3) · Total($) | |||||||||||
| David M. Flair, Co- | 2024 | 434,452 | — | 1,456,117 | 1,085,235 | 347,562 | 37,206 | 3,360,572 | |||
| President and Chief | 2023 | 365,820 | 27,035 | 32,760 | 318,864 | 21,303 | 765,782 | ||||
| Executive Officer | |||||||||||
| Timothy L. Prindle, Co- | 2024 | 434,452 | — | 1,456,117 | 1,085,235 | 347,562 | 51,869 | 3,375,235 | |||
| President and Chief | 2023 | 365,820 | 27,035 | 32,750 | 318,864 | 36,781 | 781,250 | ||||
| Executive Officer | |||||||||||
| Michael J. Dee, | 2024 | 247,738 | 4,764 | 445,800 | 221,500 | 99,095 | 51,643 | 1,070,540 | |||
| Executive Vice President | 2023 | 235,941 | 24,537 | — | 94,376 | 5,826 | 360,680 | ||||
| and Chief Financial Officer | |||||||||||
| Gregory J. Olinde, | 2024 | 215,323 | 4,141 | — | 66,450 | 64,597 | 52,048 | 402,559 | |||
| Executive Vice | 2023 | 209,051 | 4,020 | — | 87,221 | 10,938 | 311,230 | ||||
| President and Chief | |||||||||||
| Lending Officer | |||||||||||
(1) Reflects the aggregate grant date fair value for restricted stock awards granted during the fiscal year, computed in accordance with FASB ASC Topic 718. The amounts were calculated based on the Company’s stock price as of the grant date, which was $14.86 per share. Restricted stock awards vest in four approximately equal installments, with the first vesting occurring on the first anniversary of the grant date.
(2) Reflects the aggregate grant date fair value for stock options granted during the fiscal year, computed in accordance with FASB ASC Topic 718 using Black-Scholes option pricing model to estimate the fair value of stock option awards. Stock option awards vest in four approximately equal installments, with the first vesting occurring on the first anniversary of the grant date. The actual realized value of the stock options, if any, will depend on the extent to which the market value of Company common stock exceeds the exercise price of the stock options on the exercise date. Accordingly, there is no assurance that the realized value will be at or near the estimated value disclosed in the table.
(3) A break-down of the various elements of compensation in this column is set forth below: The table excludes perquisites that did not exceed $10,000 in the aggregate for each named executive officer.
| All Other Compensation | ||||||
|---|---|---|---|---|---|---|
| Name | 401(k) Plan($) | InsurancePremiums($) | MedicalCoverage($) | ESOPAllocation($) | Vehicle Allowance($) | TotalAll OtherCompensation($) |
| David M. Flair | 4,815 | 1,326 | — | 31,065 | — | 37,206 |
| Timothy L. Prindle | 4,600 | 1,326 | 14,878 | 31,065 | — | 51,869 |
| Michael J. Dee | 4,374 | 1,326 | 14,878 | 31,065 | — | 51,643 |
| Gregory J. Olinde | 631 | 1,326 | 12,695 | 28,396 | 9,000 | 52,048 |
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