EAGLE FINANCIAL SERVICES INC
For the period ended Dec 31, 2024. Filed Apr 9, 2025.
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Dec 31, 2024 · Filed Apr 9, 2025
Contents
Summary Compensation Table
| Non- | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity | ||||||||||||
| Incentive | ||||||||||||
| Plan · All Other | ||||||||||||
| Stock · Compen- · Compen- | ||||||||||||
| Name and · Salary · Bonus · Awards · sation · sation · Total | ||||||||||||
| Principal Position | Year | ($) | ($) | ($) (1) | ($) (2) | ($) (3) | ($) | |||||
| Brandon C Lorey | 2024 | 556,972 | — | 209,820 | 197,634 | 69,375 | 1,033,801 | |||||
| President and Chief | 2023 | 540,750 | — | 201,248 | — | 53,224 | 795,222 | |||||
| Executive Officer | ||||||||||||
| Kathleen J. Chappell | 2024 | 336,821 | — | 111,000 | 99,597 | 70,728 | 618,146 | |||||
| Executive Vice President and | 2023 | 327,010 | — | 105,477 | — | 50,089 | 482,576 | |||||
| Chief Financial Officer | ||||||||||||
| Joseph T. Zmitrovich | 2024 | 403,400 | — | 132,960 | 119,284 | 71,158 | 726,801 | |||||
| President and Chief | 2023 | 391,650 | — | 127,551 | — | 45,720 | 564,921 | |||||
| Banking Officer, Bank of Clarke | ||||||||||||
(1)
The amounts reported reflect the aggregate grant date fair value of the awards computed in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification Topic 718, Compensation – Stock Compensation (formerly FASB 123R Share–Based Payment). This presentation replaces the dollar amount recognized for financial statements purposes and has been reflected for all fiscal years presented. Stock awards consist of both restricted time and performance-based awards. Performance-based awards in the above table assume the probable outcome of performance conditions is equal to the target potential value of the awards. The maximum value of performance-based awards can equal 1.5 times target should the Company achieve certain performance conditions. Please see page 11 for a detailed discussion of equity compensation. For valuation and discussion of assumptions related to stock and option awards, please refer to Note 11 to the Company’s audited financial statements for the fiscal year ended December 31, 2024, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2025.
(2)
This column represents bonus amounts earned under the Company’s Senior Officer Incentive Compensation Plan for achievements relating to Company performance and is discussed in further detail beginning on page 10 under the heading “Annual Incentive Bonus”. Based on the attainment of Company performance goals, the payout, as a percentage of base salary, for the 2024 incentive plan was 35.5% for the President and CEO, 29.6% for the Executive Vice President and CFO and 29.6% for the President and CBO. Based on the attainment of Company performance goals, the payout, as a percentage of base salary, for the 2023 incentive plan was 0% for the President and CEO, 0% for the Executive Vice President and CFO and 0% for the Executive Vice President and CBO.
(3)
“All Other Compensation” represents matching contributions by the Company to the named executive officer’s account in the Company’s 401(k) plan, dividends paid on unvested equity grants, life insurance premiums and club dues paid on their behalf.
The Company has entered into employment agreements with the named executive officers as described below in the “Employment Agreements” section. All compensation paid to the named executive officers is determined as described above in the Executive Compensation section.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.