First US Bancshares, Inc. established a 2026 Cash Incentive Program for executive officers and key employees, linking cash bonuses to specific financial performance targets and a discretionary component. This program details the performance objectives, weightings, and potential bonus payouts for named executive officers, subject to regulatory adjustments and a recoupment policy.
Key takeaways
The Compensation Committee established the 2026 Cash Incentive Program on February 9, 2026.
The program applies to named executive officers James F. House, Thomas S. Elley, and William C. Mitchell.
Bonus opportunities are based on consolidated pre-tax income, ROAA, ROATE, and Loan Growth (for Mitchell), plus a 20% discretionary component.
Individual target bonus opportunities are 45% of 2026 base salary for House and 35% for Elley and Mitchell.
Payouts range from 50% to 150% of target based on achieving threshold (80% of budget) to maximum (120% of budget) performance levels.
Bonus payments are subject to a recoupment policy for financial restatements, inaccurate performance data, or detrimental conduct.