PLUMAS BANCORP
For the period ended May 15, 2024. Filed Apr 4, 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 15, 2024 · Filed Apr 4, 2024
Use the contents to explore the available documents and sections.
Contents
Pay Versus Performance
The following table provides information about the compensation paid to our principal executive officer (“PEO”), who is our CEO, and our other named executive officers (“NEOs”), the performance of the Company’s common stock and our net income.
| Year (1) | Summary Compensation Table Total for PEO | Compensation Actually Paid to PEO (2) | Average Summary Compensation Table Total for Non-PEO NEOs | Average Compensation Actually Paid to Non-PEO NEOs (2) | Value of Initial Fixed $100 Investment Based on Total Shareholder Return | Net Income (in thousands) |
|---|---|---|---|---|---|---|
| (a) | (b) | (c) | (d) | (e) | (f) | (g) |
| 2023 | $740,274 | $765,574 | $401,285 | $420,206 | $186.90 | $29,776 |
| 2022 | $855,254 | $812,072 | $472,014 | $443,354 | $163.03 | $26,444 |
| 2021 | $614,106 | $689,891 | $324,412 | $375,609 | $146.02 | $21,009 |
| (1) | Andrew J. Ryback was our Chief Executive Officer and President and our remaining NEOs were Richard L. Belstock, Chief Financial Officer, and BJ North, Chief Banking Officer. |
| (2) | “Compensation actually paid” to executive officers in columns (c) and (e) is adjusted in accordance with Item 402(v) of SEC Regulation S-K and does not reflect all compensation actually earned, received, or realized by our executive officers, including with respect to equity awards. These adjustments for equity awards are described in the following tables: |
| Adjustments to Determine Compensation “Actually Paid” for PEO | 2023 | 2022 | 2021 |
|---|---|---|---|
| Deduction for Amounts Reported under the “Option Awards” Column in the Summary Compensation Table | $0 | $(108,278) | $0 |
| Increase for Fair Value of Awards Granted during year that Remain Unvested as of Year end | $0 | $36,722 | $0 |
| Increase/deduction for Change in Fair Value from prior Year-end to current Year-end of Awards Granted Prior to year that were Outstanding and Unvested as of Year-end | $32,640 | $13,176 | $49,176 |
| Increase/deduction for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to year that Vested during year | $(9,364) | $13,176 | $24,588 |
| Total Adjustments | $25,299 | $(43,182) | $75,785 |
| (3) | The following table sets forth the adjustments made during each year represented in the PVP Table to arrive at compensation “actually paid” to our non-PEO NEOs during each of the years in question: |
| Average of Adjustments to Determine Compensation “Actually Paid” for Other NEO | 2023 | 2022 | 2021 |
|---|---|---|---|
| Deduction for Amounts Reported under the “Option Awards” Column in the Summary Compensation Table | $0 | $(75,479) | $0 |
| Increase for Fair Value of Awards Granted during year that Remain Unvested as of Year end | $0 | $27,229 | $0 |
| Increase/deduction for Change in Fair Value from prior Year-end to current Year-end of Awards Granted Prior to year that were Outstanding and Unvested as of Year-end | $23,120 | $8,784 | $32,784 |
| Increase/deduction for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to year that Vested during year | ($6,222) | $8,784 | $16,392 |
| Total Adjustments | $18,920 | $(28,660) | $51,197 |
As shown in the chart, the PEO and other NEOs’ compensation actually paid (“CAP”) amounts are aligned with the Company’s total shareholder return (“TSR”). This is due in large part to the Company’s use of incentive payments which are tied to the Company’s financial performance.
As shown in the chart, the Company’s net income has steadily increased while the PEO and other NEOs’ CAP reflects actual incentive earned under the incentive plans and the biannual granting of option awards. The Company’s incentive payments are tied to the Company’s financial performance.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.