| | | | By Order of the Board of Directors, | |
| | | |
|
|
| Moultrie, Georgia April 1, 2019 |
| | Cindi H. Lewis Corporate Secretary |
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Director Name
|
| |
Independent
Director |
| |
Ameris
Bancorp Board |
| |
Ameris
Bank Board |
| |
Audit
|
| |
Compensation
|
| |
Enterprise
Risk |
| |
Corporate
Governance/ Nominating |
|
William I. Bowen, Jr. | | |
Yes
|
| |
Member
|
| |
Member
|
| |
Member
|
| | | | |
Member
|
| |
Member
|
|
R. Dale Ezzell | | |
Yes
|
| |
Member
|
| |
Member
|
| |
Member
|
| | | | |
Member
|
| |
Member
|
|
Leo J. Hill | | |
Yes
|
| |
Vice Chair
|
| |
Vice Chair
|
| | | | |
Chair
|
| | | | |
Member
|
|
Edwin W. Hortman, Jr.(1) | | |
No
|
| |
Member
|
| |
Member
|
| | | | | | | | | | | | |
Daniel B. Jeter | | |
Yes
|
| |
Chair
|
| |
Chair
|
| | | | |
Member
|
| | | | |
Member
|
|
Robert P. Lynch(2) | | |
Yes
|
| |
Member
|
| |
Member
|
| |
Chair
|
| |
Member
|
| | | | | | |
Elizabeth A. McCague | | |
Yes
|
| |
Member
|
| |
Member
|
| |
Member
|
| | | | |
Chair
|
| | | |
William H. Stern | | |
Yes
|
| |
Member
|
| |
Member
|
| | | | |
Member
|
| | | | |
Chair
|
|
Jimmy D. Veal | | |
Yes
|
| |
Member
|
| |
Member
|
| |
Member
|
| | | | | | | |
Member
|
|
Dennis J. Zember Jr.(3) | | |
No
|
| |
Vice Chair
|
| |
Vice Chair
|
| | | | | | | | | | | | |
Number of Meetings | | | | | |
18
|
| |
15
|
| |
8
|
| |
6
|
| |
9
|
| |
4
|
|
Name
|
| |
Fees
Earned or Paid in Cash |
| |
Stock
Awards |
| |
Option
Awards |
| |
Non-Equity
Incentive Plan Compensation |
| |
Change in
Pension Value and Nonqualified Deferred Compensation Earnings |
| |
All Other
Compensation |
| |
Total
|
| |||||||||||||||||||||
William I. Bowen, Jr.(1)
|
| | | $ | 50,000 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 99,995 | | |
R. Dale Ezzell(1)
|
| | | $ | 50,833 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 100,828 | | |
Leo J. Hill(1)
|
| | | $ | 60,000 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 109,995 | | |
Daniel B. Jeter(1)
|
| | | $ | 61,250 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 111,245 | | |
Robert P. Lynch(1)
|
| | | $ | 60,000 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 109,995 | | |
Elizabeth A. McCague(1)
|
| | | $ | 58,833 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 108,828 | | |
William H. Stern(1)
|
| | | $ | 50,000 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 99,995 | | |
Jimmy D. Veal(1)
|
| | | $ | 50,000 | | | | | $ | 49,995 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 99,995 | | |
Name, Age and Term as Officer
|
| |
Position
|
| |
Principal Occupation for the Last Five Years
and Other Directorships |
|
Dennis J. Zember Jr., 49 Officer since 2005 |
| |
President and Chief Executive Officer
|
| |
President and Chief Executive Officer since July 2018; Executive Vice President and Chief Operating Officer from June 2016 through June 2018; Chief Financial Officer from February 2005 through December 2017. Senior Vice President and Treasurer of Flag Financial Corporation and Senior Vice President and Chief Financial Officer of Flag Bank from January 2002 to February 2005. Vice President and Treasurer of Century South Banks, Inc. from August 1997 to May 2001.
|
|
Nicole S. Stokes, 44 Officer since 2018 |
| |
Executive Vice President and Chief Financial Officer
|
| |
Executive Vice President and Chief Financial Officer since January 2018; Chief Financial Officer of the Bank since June 2016. Senior Vice President and Controller from December 2010 through May 2016.
|
|
Lawton E. Bassett, III, 50 Officer since 2016 |
| |
Executive Vice President and Banking Group President
|
| |
Banking Group President of the Company and President of the Bank since February 2017. Executive Vice President since February 2016. Chief Banking Officer for Alabama and Georgia from February 2016 through January 2017. Regional President and Market President from 2006 through January 2017. From 2003 – 2006 served as President and Chief Executive Officer of Citizens Security Bank, formerly a wholly owned subsidiary of the Company. Prior to joining the Company, served in various commercial lending and leadership roles at Barnett Bank and SunTrust.
|
|
Jon S. Edwards, 57 Officer since 1999 |
| |
Executive Vice President and Chief Credit Officer
|
| |
Executive Vice President and Chief Credit Officer since May 2005. Executive Vice President and Regional Bank Executive for Southern Division from August 2002 through April 2005. Director of Credit Administration from March 1999 to July 2003. Senior Vice President from March 1999 to August 2002. Director of each subsidiary bank in the Southern Division from September 2002 through April 2005.
|
|
Name, Age and Term as Officer
|
| |
Position
|
| |
Principal Occupation for the Last Five Years
and Other Directorships |
|
James A. LaHaise, 58 Officer since 2014 |
| |
Executive Vice President and Chief Strategy Officer
|
| |
Executive Vice President and Chief Strategy Officer since October 2018. Executive Vice President and Corporate Banking Executive from February 2017 through September 2018. Executive Vice President and Chief Banking Officer for Florida and South Carolina from February 2016 through January 2017. Executive Vice President, Commercial Banking Executive from June 2014 until February 2016. President and Chief Executive Officer of Coastal Bankshares, Inc. and The Coastal Bank from January 2013 until they were acquired by the Company in June 2014, and Executive Vice President and Chief Banking Officer of The Coastal Bank from May 2007 through December 2012.
|
|
Cindi H. Lewis, 65 Officer since 1987 |
| |
Executive Vice President, Chief Administrative Officer and Corporate Secretary
|
| |
Chief Administrative Officer since May 2006, Executive Vice President since May 2002 and Corporate Secretary since May 2000. Director of Human Resources from May 2000 to May 2006 and Senior Vice President from May 2000 to May 2002.
|
|
William D. McKendry, 50 Officer since 2017 |
| |
Executive Vice President and Chief Risk Officer
|
| |
Executive Vice President and Chief Risk Officer since September 2017. Executive Vice President and Chief Risk Officer for Bank of North Carolina from December 2011 to September 2017. Deputy General Auditor for First Citizens Bancshares from June 2004 to October 2011.
|
|
| Dennis J. Zember Jr.(1) | | | President and Chief Executive Officer | |
| Nicole S. Stokes | | | Executive Vice President and Chief Financial Officer | |
| Lawton E. Bassett, III | | | Executive Vice President and Banking Group President | |
| Jon S. Edwards | | | Executive Vice President and Chief Credit Officer | |
| James A. LaHaise | | | Executive Vice President and Chief Strategy Officer | |
|
Edwin W. Hortman, Jr.(2)
|
| | Former Executive Chairman, President and Chief Executive Officer | |
Company
|
| |
Total Assets
(12/31/2018) |
| |
Company
|
| |
Total Assets
(12/31/2018) |
| ||||||
United Bankshares, Inc.
|
| | | $ | 19.2 | | | |
International Bancshares Corporation
|
| | | $ | 11.8 | | |
BancorpSouth Bank
|
| | | $ | 17.2 | | | |
Cadence Bancorporation
|
| | | $ | 11.8 | | |
Simmons First National Corporation
|
| | | $ | 16.3 | | | | TowneBank | | | | $ | 11.1 | | |
Home Bancshares, Inc.
|
| | | $ | 14.9 | | | |
Renasant Corporation
|
| | | $ | 12.7 | | |
South State Corporation
|
| | | $ | 14.5 | | | |
CenterState Bank Corporation
|
| | | $ | 12.3 | | |
Hilltop Holdings Inc.
|
| | | $ | 13.8 | | | |
Independent Bank Group, Inc.
|
| | | $ | 9.9 | | |
Trustmark Corporation
|
| | | $ | 13.4 | | | |
LegacyTexas Financial Group, Inc.
|
| | | $ | 9.1 | | |
Union Bankshares Corporation
|
| | | $ | 13.4 | | | |
First Financial Bankshares, Inc.
|
| | | $ | 7.6 | | |
United Community Banks, Inc.
|
| | | $ | 12.4 | | | | | | | | | | | |
Median
|
| |
$12.7
|
| ||||||||||||
Ameris Bancorp
|
| |
$11.4
|
|
Component
|
| |
Type
|
| |
Objectives
|
|
Base Salary | | |
Fixed
|
| |
•
Attract and retain executives
•
Compensate executive for level of responsibility and experience
|
|
Short-Term (Annual) Incentives | | |
Variable
|
| |
•
Reward achievement of the Company’s annual financial and operational goals
•
Promote accountability and strategic decision-making
|
|
Long-Term Incentives | | |
Variable
|
| |
•
Align management and shareholder goals by linking management compensation to share price over extended period
•
Encourage long-term, strategic decision-making
•
Reward achievement of long-term company performance goals
•
Promote accountability
•
Retain key executives
|
|
Perquisites and Other Personal Benefits | | |
Fixed
|
| |
•
Foster the health and wellbeing of executives
•
Attract and retain executives
|
|
Retirement Income and Savings Plans | | |
Fixed
|
| |
•
Retain key executives
•
Reward employee loyalty and long-term service
|
|
Post-Termination Compensation and Benefits | | |
Fixed
|
| |
•
Attract and retain executives
•
Promote continuity in management
•
Promote equitable separations between the Company and its executives
|
|
Named Executive Officer
|
| |
2017 Base
Salary |
| |
2018 Base
Salary |
| |
Total
Adjustment |
| |||||||||
Dennis J. Zember, Jr.
|
| | | $ | 375,000 | | | | | $ | 500,000 | | | | | | 33.3% | | |
Nicole. S. Stokes
|
| | | $ | 200,000 | | | | | $ | 300,000 | | | | | | 50.0% | | |
Lawton E. Bassett, III
|
| | | $ | 335,000 | | | | | $ | 400,000 | | | | | | 19.4% | | |
Jon S. Edwards
|
| | | $ | 290,000 | | | | | $ | 320,000 | | | | | | 10.3% | | |
James A. LaHaise
|
| | | $ | 300,000 | | | | | $ | 320,000 | | | | | | 6.7% | | |
Edwin W. Hortman, Jr.
|
| | | $ | 700,000 | | | | | $ | 700,000 | | | | | | 0.0% | | |
Performance Measure
|
| |
Weight
|
| |||
Deposit Growth
|
| | | | 33.3% | | |
ROA (Return on Assets)
|
| | | | 33.3% | | |
Efficiency Ratio
|
| | | | 33.3% | | |
Named Executive Officer
|
| |
Threshold
(% of salary) |
| |
Target
(% of salary) |
| |
Maximum
(% of salary) |
| |||||||||
Dennis J. Zember, Jr.
|
| | | | 32.50% | | | | | | 65.00% | | | | | | 110.50% | | |
Nicole. S. Stokes
|
| | | | 22.50% | | | | | | 45.00% | | | | | | 76.50% | | |
Lawton E. Bassett, III
|
| | | | 25.00% | | | | | | 50.00% | | | | | | 85.00% | | |
Jon S. Edwards
|
| | | | 22.50% | | | | | | 45.00% | | | | | | 76.50% | | |
James A. LaHaise
|
| | | | 22.50% | | | | | | 45.00% | | | | | | 76.50% | | |
Edwin W. Hortman, Jr.
|
| | | | 32.50% | | | | | | 65.00% | | | | | | 110.50% | | |
| | |
33.3% Weight
Deposit Growth |
| |
33.3% Weight
ROA |
| |
33.3% Weight
Efficiency Ratio |
| |||||||||
Threshold
|
| | | | 9.00% | | | | | | 1.36% | | | | | | 61% | | |
Target
|
| | | | 10.00% | | | | | | 1.41% | | | | | | 60% | | |
Maximum
|
| | | | 12.00% | | | | | | 1.48% | | | | | | 59% | | |
Actual
|
| | | | 10.00% | | | | | | 1.60% | | | | | | 54% | | |
Named Executive Officer
|
| |
Base Salary
|
| |
X
|
| |
Target
(% of salary) |
| |
X
|
| |
Company
Achievement |
| |
X
|
| |
Individual
Performance |
| |
=
|
| |
Actual
Incentive Payout |
| |||||||||||||||
Dennis J. Zember, Jr.
|
| | | $ | 500,000 | | | | | | | | | 65.00% | | | | | | | | | 146.90% | | | | | | | | | 100.00% | | | | | | | | $ | 477,425 | | |
Nicole. S. Stokes
|
| | | $ | 300,000 | | | | | | | | | 45.00% | | | | | | | | | 146.90% | | | | | | | | | 110.00% | | | | | | | | $ | 218,147 | | |
Lawton E. Bassett, III
|
| | | $ | 400,000 | | | | | | | | | 50.00% | | | | | | | | | 146.90% | | | | | | | | | 100.00% | | | | | | | | $ | 293,800 | | |
Jon S. Edwards
|
| | | $ | 320,000 | | | | | | | | | 45.00% | | | | | | | | | 146.90% | | | | | | | | | 100.00% | | | | | | | | $ | 211,536 | | |
James A. LaHaise
|
| | | $ | 320,000 | | | | | | | | | 45.00% | | | | | | | | | 146.90% | | | | | | | | | 110.00% | | | | | | | | $ | 232,690 | | |
Edwin W. Hortman, Jr.
|
| | | | — | | | | | | | | | — | | | | | | | | | — | | | | | | | | | — | | | | | | | | | — | | |
Named Executive Officer
|
| |
LTI Target
|
| |||
Dennis J. Zember, Jr.
|
| | | $ | 500,000 | | |
Nicole. S. Stokes
|
| | | $ | 165,000 | | |
Lawton E. Bassett, III
|
| | | $ | 300,000 | | |
Jon S. Edwards
|
| | | $ | 200,000 | | |
James A. LaHaise
|
| | | $ | 200,000 | | |
Edwin W. Hortman, Jr.
|
| | | $ | 700,000 | | |
Name and Principal Position
|
| |
Year
|
| |
Salary
|
| |
Bonus
|
| |
Stock
Awards(3) |
| |
Option
Awards |
| |
Non-Equity
Incentive Plan Compensation |
| |
Change in
Pension Value and Nonqualified Deferred Compensation Earnings |
| |
All Other
Compensation(4) |
| |
Total
|
| |||||||||||||||||||||||||||
Dennis J. Zember Jr.
President and Chief Executive Officer(1) |
| | | | 2018 | | | | | $ | 500,000 | | | | | $ | 0 | | | | | $ | 499,955 | | | | | $ | 0 | | | | | $ | 477,425 | | | | | $ | 50,679 | | | | | $ | 38,340 | | | | | $ | 1,566,398 | | |
| | | 2017 | | | | | $ | 375,000 | | | | | $ | 0 | | | | | $ | 299,975 | | | | | $ | 0 | | | | | $ | 212,197 | | | | | $ | 45,889 | | | | | $ | 23,915 | | | | | $ | 956,976 | | | ||
| | | 2016 | | | | | $ | 340,000 | | | | | $ | 0 | | | | | $ | 250,025 | | | | | $ | 0 | | | | | $ | 200,771 | | | | | $ | 41,468 | | | | | $ | 30,500 | | | | | $ | 862,764 | | | ||
Nicole S. Stokes
Executive Vice President and Chief Financial Officer |
| | | | 2018 | | | | | $ | 300,000 | | | | | $ | 0 | | | | | $ | 164,979 | | | | | $ | 0 | | | | | $ | 218,147 | | | | | $ | 7,717 | | | | | $ | 10,262 | | | | | $ | 701,105 | | |
| | | 2017 | | | | | $ | 200,000 | | | | | $ | 0 | | | | | $ | 33,748 | | | | | $ | 0 | | | | | $ | 100,800 | | | | | $ | 6,987 | | | | | $ | 9,498 | | | | | $ | 351,033 | | | ||
| | | 2016 | | | | | $ | 189,981 | | | | | $ | 0 | | | | | $ | 39,540 | | | | | $ | 0 | | | | | $ | 55,000 | | | | | $ | 6,314 | | | | | $ | 8,983 | | | | | $ | 299,818 | | | ||
Lawton E. Bassett, III
Executive Vice President and Banking Group President |
| | | | 2018 | | | | | $ | 400,000 | | | | | $ | 0 | | | | | $ | 299,962 | | | | | $ | 0 | | | | | $ | 293,800 | | | | | $ | 20,195 | | | | | $ | 17,126 | | | | | $ | 1,031,083 | | |
| | | 2017 | | | | | $ | 335,000 | | | | | $ | 0 | | | | | $ | 199,968 | | | | | $ | 0 | | | | | $ | 189,563 | | | | | $ | 18,286 | | | | | $ | 13,853 | | | | | $ | 756,670 | | | ||
| | | 2016 | | | | | $ | 235,053 | | | | | $ | 0 | | | | | $ | 79,080 | | | | | $ | 0 | | | | | $ | 121,449 | | | | | $ | 16,525 | | | | | $ | 12,437 | | | | | $ | 464,544 | | | ||
Jon S. Edwards
Executive Vice President and Chief Credit Officer |
| | | | 2018 | | | | | $ | 320,000 | | | | | $ | 0 | | | | | $ | 199,993 | | | | | $ | 0 | | | | | $ | 211,536 | | | | | $ | 61,061 | | | | | $ | 22,001 | | | | | $ | 814,591 | | |
| | | 2017 | | | | | $ | 290,000 | | | | | $ | 0 | | | | | $ | 149,988 | | | | | $ | 0 | | | | | $ | 145,866 | | | | | $ | 55,289 | | | | | $ | 22,099 | | | | | $ | 663,242 | | | ||
| | | 2016 | | | | | $ | 270,000 | | | | | $ | 0 | | | | | $ | 149,988 | | | | | $ | 0 | | | | | $ | 139,506 | | | | | $ | 49,962 | | | | | $ | 22,863 | | | | | $ | 632,319 | | | ||
James A LaHaise
Executive Vice President and Chief Strategy Officer |
| | | | 2018 | | | | | $ | 320,000 | | | | | $ | 0 | | | | | $ | 199,993 | | | | | $ | 0 | | | | | $ | 232,690 | | | | | $ | 55,228 | | | | | $ | 27,132 | | | | | $ | 835,042 | | |
| | | 2017 | | | | | $ | 300,000 | | | | | $ | 0 | | | | | $ | 149,988 | | | | | $ | 0 | | | | | $ | 150,896 | | | | | $ | 49,682 | | | | | $ | 29,134 | | | | | $ | 679,700 | | | ||
| | | 2016 | | | | | $ | 260,000 | | | | | $ | 0 | | | | | $ | 129,955 | | | | | $ | 0 | | | | | $ | 134,339 | | | | | $ | 44,575 | | | | | $ | 24,908 | | | | | $ | 593,777 | | | ||
Edwin W. Hortman, Jr.
Former Executive Chairman, President and Chief Executive Officer(2) |
| | | | 2018 | | | | | $ | 466,667 | | | | | $ | 0 | | | | | $ | 749,942 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 176,530 | | | | | $ | 3,966,516 | | | | | $ | 5,359,655 | | |
| | | 2017 | | | | | $ | 700,000 | | | | | $ | 0 | | | | | $ | 749,981 | | | | | $ | 0 | | | | | $ | 572,147 | | | | | $ | 613,677 | | | | | $ | 84,217 | | | | | $ | 2,720,022 | | | ||
| | | 2016 | | | | | $ | 650,000 | | | | | $ | 0 | | | | | $ | 749,993 | | | | | $ | 0 | | | | | $ | 518,166 | | | | | $ | 390,007 | | | | | $ | 101,464 | | | | | $ | 2,409,630 | | |
Details on All Other Compensation Reported in the Summary Compensation Table for 2018
|
| ||||||||||||||||||||||||||||||||||||||||||
Named Executive Officer
|
| |
Auto
Provision(a) |
| |
Country Club
Membership and Dues |
| |
Director
Fees(b) |
| |
Retirement
Distributions |
| |
Dividends
|
| |
Employer
401(k) Match |
| |
Life Insurance
|
| |||||||||||||||||||||
Dennis J. Zember Jr.
|
| | | $ | 727 | | | | | $ | 18,828 | | | | | $ | — | | | | | $ | — | | | | | $ | 9,995 | | | | | $ | 8,250 | | | | | $ | 540 | | |
Nicole S. Stokes.
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 1,961 | | | | | $ | 7,941 | | | | | $ | 360 | | |
Lawton E. Bassett, III
|
| | | $ | 1,158 | | | | | $ | 2,930 | | | | | $ | — | | | | | $ | — | | | | | $ | 4,848 | | | | | $ | 7,362 | | | | | $ | 828 | | |
Jon S. Edwards
|
| | | $ | 1,197 | | | | | $ | 5,908 | | | | | $ | — | | | | | $ | — | | | | | $ | 5,098 | | | | | $ | 8,250 | | | | | $ | 1,548 | | |
James A. LaHaise
|
| | | $ | 2,669 | | | | | $ | 9,870 | | | | | $ | — | | | | | $ | — | | | | | $ | 4,795 | | | | | $ | 8,250 | | | | | $ | 1,548 | | |
Edwin W. Hortman, Jr.
|
| | | $ | 2,151 | | | | | $ | — | | | | | $ | 37,911(c) | | | | | $ | 3,899,114 | | | | | $ | 16,292 | | | | | $ | 8,000 | | | | | $ | 3,048 | | |
Name
|
| |
Plan/Grant
Date |
| |
Estimated Future Payouts
Under Non-Equity Incentive Plan Awards(1) |
| |
Estimated Future Payouts
Under Equity Incentive Plan Awards(2) |
| |
All Other
Stock Awards: Number of Shares of Stock or Units (#) |
| |
All Other
Option Awards: Number of Securities Underlying Options (#) |
| |
Exercise
or Base Price of Option Awards ($/Sh) |
| |
Grant
Date Fair Value of Stock and Option Awards(3) |
| ||||||||||||||||||||||||||||||||||||||||||
|
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
Threshold
(#) |
| |
Target
(#) |
| |
Maximum
(#) |
| |||||||||||||||||||||||||||||||||||||||||||||||
Dennis J. Zember Jr.
|
| |
2/20/2018
|
| | | $ | 162,500 | | | | | $ | 325,000 | | | | | $ | 552,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Dennis J. Zember Jr.
|
| |
2/20/2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | 1,159 | | | | | | 4,634 | | | | | | 9,268 | | | | | | 4,633 | | | | | | — | | | | | | — | | | | | $ | 499,955 | | |
Nicole S. Stokes
|
| |
2/20/2018
|
| | | $ | 67,500 | | | | | $ | 135,000 | | | | | $ | 229,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Nicole S. Stokes
|
| |
2/20/2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | 382 | | | | | | 1,529 | | | | | | 3,058 | | | | | | 1,529 | | | | | | — | | | | | | — | | | | | $ | 164,979 | | |
Lawton E. Bassett, III
|
| |
2/20/2018
|
| | | $ | 100,000 | | | | | $ | 200,000 | | | | | $ | 340,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Lawton E. Bassett, III
|
| |
2/20/2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | 695 | | | | | | 2,780 | | | | | | 5,560 | | | | | | 2,780 | | | | | | — | | | | | | — | | | | | $ | 299,962 | | |
Jon S. Edwards
|
| |
2/20/2018
|
| | | $ | 72,000 | | | | | $ | 144,000 | | | | | $ | 244,800 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jon S. Edwards
|
| |
2/20/2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | 464 | | | | | | 1,854 | | | | | | 3,708 | | | | | | 1,853 | | | | | | — | | | | | | — | | | | | $ | 199,993 | | |
James A. LaHaise
|
| |
2/20/2018
|
| | | $ | 72,000 | | | | | $ | 144,000 | | | | | $ | 244,800 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
James A. LaHaise
|
| |
2/20/2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | 464 | | | | | | 1,854 | | | | | | 3,708 | | | | | | 1,853 | | | | | | — | | | | | | — | | | | | $ | 199,993 | | |
Edwin W. Hortman, Jr.
|
| |
2/20/2018
|
| | | $ | 227,500 | | | | | $ | 455,000 | | | | | $ | 773,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Edwin W. Hortman, Jr.
|
| |
2/20/2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | 1,622 | | | | | | 6,487 | | | | | | 12,974 | | | | | | 6,487 | | | | | | — | | | | | | — | | | | | $ | 699,947 | | |
Edwin W. Hortman, Jr.
|
| |
5/15/2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 900 | | | | | | — | | | | | | — | | | | | $ | 49,995 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| |
Date
Equity Fully Vests |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Options
Exercise Price |
| |
Option
Expiration Date |
| |
Number
of Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested |
| ||||||||||||||||||||||||
Dennis J. Zember Jr | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,485 | | | | | $ | 300,390 | | | | | | | | | | | | 2/16/2019(1) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,302 | | | | | $ | 199,584 | | | | | | | | | | | | 2/14/2020(2) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,267 | | | | | $ | 293,486 | | | | | | | | | | | | 2/19/2021(3) | | |
Nicole S. Stokes | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,500 | | | | | $ | 47,505 | | | | | | | | | | | | 2/16/2019(4) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 709 | | | | | $ | 22,454 | | | | | | | | | | | | 2/14/2020(4) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,058 | | | | | $ | 96,847 | | | | | | | | | | | | 2/19/2021(3) | | |
Lawton E. Bassett, III | | |
5,139
|
| | | | 0 | | | | | | 0 | | | | | $ | 7.47 | | | | | | 1/20/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,000 | | | | | $ | 95,010 | | | | | | | | | | | | 2/16/2019(1) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,201 | | | | | $ | 133,046 | | | | | | | | | | | | 2/14/2020(2) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,560 | | | | | $ | 176,085 | | | | | | | | | | | | 2/19/2021(3) | | |
Jon S. Edwards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,690 | | | | | $ | 180,202 | | | | | | | | | | | | 2/16/2019(1) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,151 | | | | | $ | 99,792 | | | | | | | | | | | | 2/14/2020(2) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,707 | | | | | $ | 117,401 | | | | | | | | | | | | 2/19/2021(3) | | |
James A. LaHaise | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,930 | | | | | $ | 156,133 | | | | | | | | | | | | 2/16/2019(1) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,151 | | | | | $ | 99,792 | | | | | | | | | | | | 2/14/2020(2) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,707 | | | | | $ | 117,401 | | | | | | | | | | | | 2/19/2021(3) | | |
Name
|
| |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||
|
Number of Shares
Acquired on Exercise (#) |
| |
Value Realized
upon Exercise |
| |
Number of Shares
Acquired on Vesting (#) |
| |
Value Realized
on Vesting |
| ||||||||||||||
Dennis J. Zember Jr.
|
| | | | 23,180 | | | | | $ | 987,813(1) | | | | | | 9,000 | | | | | $ | 483,300(4) | | |
Nicole S. Stokes
|
| | | | — | | | | | $ | — | | | | | | 1,500 | | | | | $ | 80,775(5) | | |
Lawton E. Bassett, III
|
| | | | 3,083 | | | | | $ | 116,661(2) | | | | | | 3,000 | | | | | $ | 161,100(6) | | |
Jon S. Edwards
|
| | | | — | | | | | $ | — | | | | | | 4,500 | | | | | $ | 241,650(7) | | |
James A. LaHaise
|
| | | | — | | | | | $ | — | | | | | | 4,500 | | | | | $ | 241,650(7) | | |
Edwin W. Hortman, Jr.
|
| | | | 25,701 | | | | | $ | 1,025,213(3) | | | | | | 66,280 | | | | | $ | 3,337,834(8) | | |
Name
|
| |
Plan Name
|
| |
Number of
Years Credited Service(1) |
| |
Present Value of
Accumulated Benefit(2) |
| |
Payments
During Last Fiscal Year |
| |||||||||
Edwin W. Hortman, Jr.
|
| |
SERP Agreement 11-7-2012
|
| | | | 6 | | | | | $ | 1,871,538 | | | | | $ | 104,166 | | |
Edwin W. Hortman, Jr.
|
| |
SERP Agreement 11-7-2016
|
| | | | 2 | | | | | $ | 210,305 | | | | | $ | — | | |
Dennis J. Zember Jr.
|
| |
SERP Agreement 11-7-2012
|
| | | | 6 | | | | | $ | 243,516 | | | | | $ | — | | |
Nicole S. Stokes
|
| |
SERP Agreement 11-7-2012
|
| | | | 6 | | | | | $ | 37,078 | | | | | $ | — | | |
Lawton E. Bassett, III.
|
| |
SERP Agreement 11-7-2012
|
| | | | 6 | | | | | $ | 97,039 | | | | | $ | — | | |
Jon S. Edwards
|
| |
SERP Agreement 11-7-2012
|
| | | | 6 | | | | | $ | 293,398 | | | | | $ | — | | |
James A. LaHaise
|
| |
SERP Agreement 11-10-2015
|
| | | | 3 | | | | | $ | 155,444 | | | | | $ | — | | |
Compensation and Benefits Payable Upon Termination
|
| |
Voluntary
With Good Reason or Involuntary Without Cause |
| |
Voluntary or
Involuntary For Cause |
| |
Change of
Control (excluding other applicable benefits for termination)(1) |
| |
Death
|
| |
Disability
|
| |||||||||||||||
Dennis J. Zember Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | $ | 1,000,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Cash Bonus
|
| | | $ | 424,394 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Pro-Rata Bonus
|
| | | $ | 477,425 | | | | | $ | — | | | | | $ | — | | | | | $ | 477,425 | | | | | $ | 477,425 | | |
SERP
|
| | | $ | 243,516 | | | | | $ | — | | | | | $ | — | | | | | $ | 3,000,000 | | | | | $ | 243,516 | | |
Intrinsic Value of Unvested Stock Options(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Intrinsic Value of Unvested Restricted Stock(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | 793,460 | | | | | $ | 793,460 | | | | | $ | 793,460 | | |
Health and Welfare Benefits(3)
|
| | | $ | 10,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Total Benefit
|
| | | $ | 2,155,335 | | | | | $ | — | | | | | $ | 793,460 | | | | | $ | 4,270,885 | | | | | $ | 1,514,401 | | |
Nicole S. Stokes | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Cash Bonus
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Pro-Rata Bonus
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
SERP
|
| | | $ | 37,078 | | | | | $ | — | | | | | $ | — | | | | | $ | 750,000 | | | | | $ | 37,078 | | |
Intrinsic Value of Unvested Stock Options(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Intrinsic Value of Unvested Restricted Stock(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | 166,806 | | | | | $ | 166,806 | | | | | $ | 166,806 | | |
Health and Welfare Benefits(3)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Total Benefit
|
| | | $ | 37,078 | | | | | $ | — | | | | | $ | 166,806 | | | | | $ | 916,806 | | | | | $ | 203,884 | | |
|
Compensation and Benefits Payable Upon Termination
|
| |
Voluntary
With Good Reason or Involuntary Without Cause |
| |
Voluntary or
Involuntary For Cause |
| |
Change of
Control (excluding other applicable benefits for termination)(1) |
| |
Death
|
| |
Disability
|
| |||||||||||||||
Lawton E. Bassett, III | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | $ | 400,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Cash Bonus
|
| | | $ | 189,563 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Pro-Rata Bonus
|
| | | $ | 293,800 | | | | | $ | — | | | | | $ | — | | | | | $ | 293,800 | | | | | $ | 293,800 | | |
SERP
|
| | | $ | 97,039 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,125,000 | | | | | $ | 97,039 | | |
Intrinsic Value of Unvested Stock Options(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Intrinsic Value of Unvested Restricted Stock(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | 528,505 | | | | | $ | 528,505 | | | | | $ | 528,505 | | |
Health and Welfare Benefits(3)
|
| | | $ | 10,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Total Benefit
|
| | | $ | 990,402 | | | | | $ | — | | | | | $ | 528,505 | | | | | $ | 1,947,305 | | | | | $ | 919,344 | | |
Jon S. Edwards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | $ | 320,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Cash Bonus
|
| | | $ | 145,866 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Pro-Rata Bonus
|
| | | $ | 211,536 | | | | | $ | — | | | | | $ | — | | | | | $ | 211,536 | | | | | $ | 211,536 | | |
SERP
|
| | | $ | 293,398 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,500,000 | | | | | $ | 293,398 | | |
Intrinsic Value of Unvested Stock Options(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Intrinsic Value of Unvested Restricted Stock(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | 397,395 | | | | | $ | 397,395 | | | | | $ | 397,395 | | |
Health and Welfare Benefits(3)
|
| | | $ | 12,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Total Benefit
|
| | | $ | 982,800 | | | | | $ | — | | | | | $ | 397,395 | | | | | $ | 2,108,931 | | | | | $ | 902,329 | | |
James A. LaHaise | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | $ | 320,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Cash Bonus
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Pro-Rata Bonus
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 232,690 | | | | | $ | 232,690 | | |
SERP
|
| | | $ | 155,444 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,000,000 | | | | | $ | 155,444 | | |
Intrinsic Value of Unvested Stock Options(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Intrinsic Value of Unvested Restricted Stock(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | 373,326 | | | | | $ | 373,326 | | | | | $ | 373,326 | | |
Health and Welfare Benefits(3)
|
| | | $ | 12,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Total Benefit
|
| | | $ | 487,444 | | | | | $ | — | | | | | $ | 373,326 | | | | | $ | 1,606,016 | | | | | $ | 761,460 | | |
|
Fee Category
|
| |
Fiscal 2018
Fees |
| |
Fiscal 2017
Fees |
| ||||||
Audit Fees(1)
|
| | | $ | 1,032,000 | | | | | $ | 682,000 | | |
Audit-related Fees(2)
|
| | | | 147,000 | | | | | | 165,000 | | |
Tax Fees(3)
|
| | | | — | | | | | | — | | |
All Other Fees(4)
|
| | | | — | | | | | | — | | |
Total Fees
|
| | | $ | 1,179,000 | | | | | $ | 847,000 | | |
|
Name of Beneficial Owner(1)
|
| |
Common
Stock Beneficially Owned as of March 5, 2019(2) |
| |
Percent of
Class(3) |
| ||||||
BlackRock, Inc.(4)
55 East 52nd Street New York, New York 10055 |
| | | | 6,039,221 | | | | | | 12.69% | | |
The Vanguard Group(5)
100 Vanguard Boulevard Malvern, Pennsylvania 19355 |
| | | | 4,291,348 | | | | | | 9.02% | | |
Lawton, E. Bassett, III(6)
|
| | | | 58,125 | | | | | | * | | |
William I. Bowen, Jr.( 7)
|
| | | | 15,415 | | | | | | * | | |
Jon S. Edwards(8)
|
| | | | 61,598 | | | | | | * | | |
R. Dale Ezzell(9)
|
| | | | 32,772 | | | | | | * | | |
Leo J. Hill(10)
|
| | | | 20,951 | | | | | | * | | |
Daniel B. Jeter(11)
|
| | | | 36,568 | | | | | | * | | |
James A. LaHaise(12)
|
| | | | 83,640 | | | | | | * | | |
Cindi H. Lewis(13)
|
| | | | 88,227 | | | | | | * | | |
Robert P. Lynch(14)
|
| | | | 190,499 | | | | | | * | | |
Elizabeth A. McCague(15)
|
| | | | 5,226 | | | | | | * | | |
William D. McKendry(16)
|
| | | | 15,071 | | | | | | * | | |
William H. Stern(17)
|
| | | | 24,861 | | | | | | * | | |
Nicole S. Stokes(18)
|
| | | | 13,423 | | | | | | * | | |
Jimmy D. Veal(19)
|
| | | | 91,982 | | | | | | * | | |
Dennis J. Zember Jr.(20)
|
| | | | 214,132 | | | | | | * | | |
All directors and executive officers as a group (15 persons)(21)
|
| | | | 952,490 | | | | | | 2.002% | | |