ServisFirst Bancshares, Inc.
For the period ended May 20, 2024. Filed Apr 8, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 20, 2024 · Filed Apr 8, 2024
SFBS$41.08-0.6%Stored close · as of Nov 6, 2026
Contents
Elements of our Compensation Program
The following table outlines the major elements of 2023 total compensation for our executives:
SERVISFIRST BANCSHARES, INC. -Notice of 2024 Annual Meeting of Stockholders and Proxy Statement 21
| Compensation Element | Description and Purpose | Link to Performance | Fixed/ Performance Based | Short/Long- Term |
|---|---|---|---|---|
| Base Salary | Helps attract and retain executives through periodic payments of market-competitive base pay | Based on individual performance, experience, and scope of responsibility. Used to establish cash and equity incentive award opportunities. | Fixed | Short-Term |
| Annual Short-Term Incentives | Encourages achievement of financial performance metrics that create near‑term stockholder value | Ties the executive’s compensation directly to factors that we believe are important to the success of the Company. | Performance Based | Short-Term |
| Performance metrics include loan growth and earnings per share. Loan growth is integral to the future success of the Company, while earnings per share aligns executive pay with overall Company success. | ||||
| Annual short-term incentives are paid in cash. | ||||
| Long-Term Equity Incentive Awards | Aligns long-term interests of executives and stockholders while creating a retention incentive through multi-year vesting | Restricted stock awards are time‑vested over three years. Performance share awards are determined based on Company TSR over a 3-year period as compared to the custom 2023 Peer Group. | Fixed & Performance Based | Long-Term |
| Change in Control Agreements | Provides protection to our named executive officers in the event we are subject to a change in control. | - - | Fixed | Long-Term |
| Endorsement Split-Dollar Agreements | Bank-owned life insurance on Messrs. Broughton, Rushing and Foshee. Designed to provide a long‑term retention incentive for the named executives, along with generating a favorable return for the Bank. | - - | Fixed | Long-Term |
| Other Compensation | Dividends on restricted stock, limited perquisites and health and welfare benefits on the same basis as other employees | Dividends on restricted stock further enhance the executive’s link to stockholders by ensuring they share in the distribution of income generated from ongoing financial performance. | Fixed & Performance Based | |
**Key Compensation Policies and Supplemental Information
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