Companies UNION BANKSHARES INC
UNION BANKSHARES (UNB): executive pay, fiscal 2025
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CEO pay, last three years
- $713,692FY2023
- $807,422FY2024
- $860,469FY2025
CEO total pay was $860,469 in fiscal 2025, up from $807,422 in fiscal 2024.
FY2025: salary $492,752 · bonus $0 · stock awards $123,188 · option awards $0
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Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| David Silverman | $492,752 | $0 | $123,188 | $0 | $182,773 | $0 | $61,756 | $860,469 |
| President and CEO | ||||||||
| Karyn Hale | 294,217 | 0 | 58,843 | 0 | 90,943 | 0 | 30,351 | 474,354 |
| EVP, CFO and COO | ||||||||
| Jonathan Gould | 275,300 | 0 | 55,060 | 0 | 85,096 | 0 | 29,910 | 445,366 |
| EVP, Senior Commercial Lender, Union Bank | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| David Silverman | $860,469 | $807,422 | $713,692 | ↑ +53,047 |
| Karyn Hale | 474,354 | 405,743 | 368,289 | ↑ +68,611 |
| Jonathan Gould | 445,366 | 401,708 | — | ↑ +43,658 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company's compensation program is designed to attract, retain, and motivate talented senior management, provide a competitive total compensation package, reward superior performance while balancing short- and long-term incentives with prudent risk management, and align management interests with shareholders to enhance overall shareholder value.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | McLagan (AON) |
| Clawback policy | true |
| Anti-hedging | false |
| Anti-pledging | false |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jonathan Gould | RSU | 2025-02-05 | — | — | 2,204 | — | $66,185 |
| Jonathan Gould | RSU | 2026-02-04 | — | — | 2,750 | — | 68,833 |
| Karyn Hale | RSU | 2026-02-04 | — | — | 2,939 | — | 73,563 |
| Karyn Hale | RSU | 2025-02-05 | — | — | 2,048 | — | 66,970 |
| David Silverman | RSU | 2025-02-05 | — | — | 4,528 | — | 148,066 |
| David Silverman | RSU | 2026-02-04 | — | — | 6,153 | — | 154,010 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jonathan Gould | $135,018 | $0 | $0 | 0.0% |
| Karyn Hale | 140,533 | 0 | 0 | 0.0% |
| David Silverman | 302,076 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Karyn Hale | RSU | 1,646 | — | $39,060 |
| Karyn Hale | RSU | 1,666 | — | 39,534 |
| David Silverman | RSU | 3,683 | — | 87,398 |
| Jonathan Gould | RSU | 55,060 | — | 1,306,568 |
| Karyn Hale | RSU | 58,843 | — | 1,396,338 |
| David Silverman | RSU | 123,188 | — | 2,923,265 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Cornelius Van DykeIndependent · Not standing for re-election | $63,725 | $14,012 | — | — | $0 | $77,737 |
| Nancy C. PutnamIndependent · Audit (Chair) · Nominating and Corporate Governance | 58,946 | 14,012 | — | — | 0 | 72,958 |
| Janet P. SpitlerIndependent · Audit · Compensation · Nominating and Corporate Governance | 54,450 | 14,012 | — | — | 0 | 68,462 |
| Timothy W. SargentIndependent · Lead Independent Director · Audit · Nominating and Corporate Governance | 52,850 | 14,012 | — | — | 0 | 66,862 |
| Gregory D. SargentIndependent · Audit · Nominating and Corporate Governance | 50,467 | 14,012 | — | — | 0 | 64,479 |
| Dawn D. BugbeeIndependent · Compensation (Chair) · Nominating and Corporate Governance | 50,200 | 14,012 | — | — | 0 | 64,212 |
| Mary K. ParentIndependent · Compensation · Nominating and Corporate Governance | 49,158 | 14,012 | — | — | 0 | 63,170 |
| Joel S. BourassaIndependent · Departed during FY | 30,567 | 14,012 | — | — | 0 | 44,579 |
| Jeffrey F. WeidleyEmployee director · Newly elected | — | — | — | — | — | 0 |
| David S. SilvermanEmployee director | — | — | — | — | — | 0 |
| Walter B. Frame IIINewly elected | — | — | — | — | — | — |
| Steven P. CoteNewly elected | — | — | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | $12,500 |
|---|---|
| Annual equity retainer | $14,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 4,300 / 4,100 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $410,363 |
| Equity awards (grant-date value) | $112,096 |
| All other compensation | $0 |
| Total cost of the board | $522,459 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names UNION BANKSHARES as a peer
Companies that benchmark against UNB
No companies currently name UNB as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | UNION BANKSHARES INC | 2025 | David Silverman | $492,752 | $123,188 | $0 | $182,773 | $860,469 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2022 | 2022-05-18 | 2,768,649 | 56,434 | 14,410 | 98% | Passed |
| 2019 | 2019-05-15 | 2,889,404 | 36,186 | 12,848 | 98.76% | Passed |
| 2016 | 2016-05-18 | 2,628,026 | 25,949 | 8,243 | 99.02% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2022 | 2022-05-18 | 98%a |
| 2019 | 2019-05-15 | 98.76%b |
| 2016 | 2016-05-18 | 99.02%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “Therefore, abstentions will not affect the outcome of the vote on Proposal 3.”.
c. Voting standard not stated in the filing.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (28 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, David Silverman. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 860,469. View filing ↗
- Section 01, Karyn Hale. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 474,354. View filing ↗
- Section 01, Jonathan Gould. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 445,366. View filing ↗
- Section 03, Jonathan Gould RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jonathan Gould RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Karyn Hale RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Karyn Hale RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, David Silverman RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, David Silverman RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Cornelius Van Dyke. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 77,737. View filing ↗
- Section 08, Nancy C. Putnam. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 72,958. View filing ↗
- Section 08, Janet P. Spitler. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 68,462. View filing ↗
- Section 08, Timothy W. Sargent. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 66,862. View filing ↗
- Section 08, Gregory D. Sargent. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 64,479. View filing ↗
- Section 08, Dawn D. Bugbee. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 64,212. View filing ↗
- Section 08, Mary K. Parent. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 63,170. View filing ↗
- Section 08, Joel S. Bourassa. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 44,579. View filing ↗
- Section 08, Jeffrey F. Weidley. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, David S. Silverman. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Walter B. Frame III. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, Steven P. Cote. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: —. View filing ↗
- Section 06, 2022 vote. Form 8-K, filed 2022-05-19. Item 5.07 · say-on-pay result. As reported: 98% (votes for as printed: 2,768,649). View filing ↗
- Section 06, 2019 vote. Form 8-K, filed 2019-05-16. Item 5.07 · say-on-pay result. As reported: 98.76% (votes for as printed: 2,889,404). View filing ↗
- Section 06, 2016 vote. Form 8-K, filed 2016-05-19. Item 5.07 · say-on-pay result. As reported: 99.02% (votes for as printed: 2,628,026). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 410,363 + equity 112,096 + all other 0 = 522,459, summed across the director compensation table rows.
- UNION BANKSHARES INC (subject), Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in UNION BANKSHARES INC's own proxy. As printed: 860,469. View filing ↗