Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-24

Ameriserv Financial Inc (ASRV)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$626,931
Jeffrey Stopko total, FY2025
17th
CEO pay percentile vs peers
CEO-to-median pay ratio
74.36%
Say-on-pay support, latest vote
Companies that benchmark against ASRV
4 companies name ASRV as a compensation peer

Each company listed discloses ASRV in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ASRV in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jeffrey Stopko$419,184$0$0$0$0$185,602$22,145$626,931
President and CEO of ASRV and AmeriServ Financial Bank
Michael Lynch289,0000000148,81315,349453,162
Former Executive Vice President, CFO, Chief Investment Officer, & Chief Risk Officer of ASRV and AmeriServ Financial Bank
David Finui269,9610000035,072305,033
President of Wealth Management of AmeriServ Financial 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Jeffrey Stopko$626,931$503,959$561,439+122,972
Michael Lynch453,162324,675376,250+128,487
David Finui305,033301,904+3,129

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Michael LynchRSU3,000$11,040
David FinuiRSU10,00036,800
Jeffrey StopkoRSU20,00073,600
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation programs seek to achieve and maintain equity with respect to balancing the interests of shareholders and executive officers, while supporting our need to attract and retain competent executive management.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantPearl Meyer
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingFalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-07-238,217,7122,834,23165,92774.36%Passed
20252025-07-296,194,4194,641,996224,21457.16%Passed
20242024-08-206,081,5624,777,37880,12756.01%Passed
20232023-05-266,686,0364,453,988194,99160.02%Passed
20222022-04-268,504,8381,282,338126,63386.9%Passed
20212021-04-278,171,4921,422,69752,34985.17%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 yearMeeting dateApproval — company's computation
20262026-07-2374.36%a
20252025-07-2957.16%b
20242024-08-2056.01%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not constitute or be counted as votes cast and, consequently, will have no effect on the vote on Matter No.”.

b. Approved under the standard stated in the filing — “430 Park Avenue, 14th Floor New York, NY 10022 Shareholders Call Toll Free: (800) 662-5200 Brokers, Banks, and Other Nominees Call Collect: (203) 658-9400 Email: ASRV@investor.Sodali.com What proposals will be acted upon at the Annual Meeting, and what number of votes is needed for the proposals to be adopted? ​ Matter ​ ​ Vote Required ​ ​ Broker Discretionary Voting Allowed? ​ ​ Effect of Abstention? ​ ​ Effect of Broker Non-Votes (1) ​ ​ 1 ​ ​ Election of Class II directors for a 3-year term ​ ​ Plurality of Votes Cast (as described below) ​ ​ No ​ ​ No effect ​ ​ No effect ​ ​ 2 ​ ​ Articles Amendment ​ ​ Majority of Votes Entitled to be Cast ​ ​ No ​ ​ No effect ​ ​ No effect ​ ​ 3 ​ ​ Advisory vote on compensation of our named executive officers ​ ​ Majority of Votes Entitled to be Cast ​ ​ No ​ ​ No effect ​ ​ No effect ​ ​ 4 ​ ​ Ratification of the appointment of S.R.”.

c. Approved under the standard stated in the filing — “430 Park Avenue, 14th Floor New York, NY 10022 Shareholders Call Toll Free: (800) 662-5200 Brokers, Banks, and Other Nominees Call Collect: (203) 658-9400 Email: ASRV@investor.Sodali.com What proposals will be acted upon at the Annual Meeting, and what number of votes is needed for the proposals to be adopted? ​ Matter ​ ​ Vote Required ​ ​ Broker Discretionary Voting Allowed? ​ ​ Effect of Abstention? ​ ​ Effect of Broker Non-Votes (1) ​ ​ 1 ​ ​ Election of Class II directors for a 3-year term ​ ​ Plurality of Votes Cast (as described below) ​ ​ No ​ ​ No effect ​ ​ No effect ​ ​ 2 ​ ​ Articles Amendment ​ ​ Majority of Votes Entitled to be Cast ​ ​ No ​ ​ No effect ​ ​ No effect ​ ​ 3 ​ ​ Advisory vote on compensation of our named executive officers ​ ​ Majority of Votes Entitled to be Cast ​ ​ No ​ ​ No effect ​ ​ No effect ​ ​ 4 ​ ​ Ratification of the appointment of S.R.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
J. Michael Adams, JrIndependent · Board Chair · Executive · Nominating/Corporate Governance (Chair)$110,500$27,498$0$0$0$137,998
Kim W. KunkleIndependent · Executive (Vice Chair) · Investment/ALCO (Vice Chair) · Compensation/Human Resources (Vice Chair)74,50027,498000101,998
Mark E. PasquerillaIndependent · Executive (Chair) · Technology · Investment/ALCO · Audit (Chair) · Nominating/Corporate Governance (Vice Chair) · Compensation/Human Resources (Chair)52,95027,49800080,448
Richard W. BloomingdaleIndependent · Technology (Vice Chair) · Audit · Compensation/Human Resources50,70027,49800078,198
Amy BradleyIndependent · Investment/ALCO (Chair) · Audit38,10027,49800065,598
Daniel A. OnoratoIndependent · Audit (Vice Chair) · Nominating/Corporate Governance29,55027,49800057,048
David J. HicktonIndependent · Technology (Chair)22,05027,49800049,548
Jeffrey A. StopkoEmployee director · Executive · Investment/ALCO · Technology00000
09

Board fee structure and ownership guideline

Annual cash retainer
Annual equity retainer$27,500
Per board meeting fee$1,000
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$378,350
Equity awards (grant-date value)$192,486
All other compensation$0
Total cost of the board$570,836

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Ameriserv Financial Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Ameriserv Financial Inc.

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Meridian Corp.2025Christopher Annas$622,000$264,000$0$0$1,677,997
2Chemung Financial Corporation2025Anders Tomson720,300230,044001,417,130
3Middlefield Banc Corporation2024Ronald Zimmerly475,000513,2920192,9131,263,438
4First United Corporation2025Carissa Rodeheaver503,244136,3460388,3531,042,004
5Citizens & Northern Corporation2025J. Bradley Scovill605,000118,3940248,8381,041,499
6SB Financial Corp.2025Mark Klein505,819162,6850274,1571,040,425
7Norwood Financial Corporation2025James Donnelly605,000198,200001,009,784
8Franklin Financial Services Corporation2025Craig Best523,19844,6100207,971788,859
9CB Financial Services, Inc.2025John Montgomery473,87973,9470145,605753,865
10Ohio Valley Bancorp2025Larry Miller II392,169000702,007
11Ameriserv Financial Inc2025Jeffrey Stopko419,184000626,931
12Old Point Financial Corporation2023Robert Shuford Jr.425,50051,600054,352587,065
13National Bankshares, Inc.2025Lara Ramsey273,49222,399036,540562,269

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Ameriserv Financial Incnot disclosedOptions 100not disclosedPearl Meyer
CB Financial Services, Inc.not disclosedRSU 100not disclosedMeridian
Chemung Financial Corporationnot disclosedRSU 100not disclosedAon
Citizens & Northern Corporation141.4%RSU 50 · PSU 50NoPearl Meyer & Partners, LLC
First United Corporationnot disclosedPSU 67 · RSU 33NoAon Human Capital Solutions
Franklin Financial Services Corporationnot disclosedRSU 100NoBlanchard Consulting Group
Meridian Corp.130%RSU 100not disclosednot disclosed
Middlefield Banc Corporationnot disclosednot disclosedYes — total shareholder return (TSR) percentile rankMeridian Compensation Partners, LLC
National Bankshares, Inc.not disclosedRSU 50 · Cash LTI 50NoMeridian Compensation Partners, LLC
Norwood Financial Corporation25%RSU 100not disclosednot disclosed
Ohio Valley Bancorpnot disclosedESOP 100not disclosednot disclosed
Old Point Financial Corporationnot disclosedRSU 100not disclosedPearl Meyer & Partners
SB Financial Corp.not disclosedRSU 100not disclosedBlanchard Consulting Group (BCG)

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at Ameriserv Financial Inc in fiscal 2025?
The highest-paid executive at Ameriserv Financial Inc in fiscal 2025 was Jeffrey Stopko, President and CEO of ASRV and AmeriServ Financial Bank, with total compensation of $626,931.
How does Ameriserv Financial Inc's chief executive pay compare to its disclosed peer group?
The filing shows that Jeffrey Stopko's pay placed him in the 17th percentile of disclosed peers.
What is Ameriserv Financial Inc's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this extract.
How did shareholders vote on Ameriserv Financial Inc's executive compensation?
Shareholders approved the executive compensation plan with 74.36% support in the latest vote.
How much does Ameriserv Financial Inc spend in total on board compensation for fiscal 2025?
Ameriserv Financial Inc spent $570,836 in total on board compensation for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Jeffrey StopkoDEF 14A2026-06-080001140361-26-024337Section “SUMMARY COMPENSATION TABLE”. As printed: 626,931. Filing ↗machine: t71 · r2 · c27 · span 352026–352033
2Section 01, Michael LynchDEF 14A2026-06-080001140361-26-024337Section “SUMMARY COMPENSATION TABLE”. As printed: 453,162. Filing ↗machine: t71 · r5 · c27 · span 366917–366924
3Section 01, David FinuiDEF 14A2026-06-080001140361-26-024337Section “SUMMARY COMPENSATION TABLE”. As printed: 305,033. Filing ↗machine: t71 · r8 · c27 · span 381179–381186
4Section 07, pay ratioDEF 14A2026-06-080001140361-26-024337Section “CEO Pay Ratio”. As printed: —. Filing ↗
5Section 08, J. Michael Adams, JrDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 137,998. Filing ↗machine: t108 · r2 · c9 · span 557612–557619
6Section 08, Kim W. KunkleDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 101,998. Filing ↗machine: t108 · r6 · c9 · span 565328–565335
7Section 08, Mark E. PasquerillaDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 80,448. Filing ↗machine: t108 · r9 · c9 · span 570979–570985
8Section 08, Richard W. BloomingdaleDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 78,198. Filing ↗machine: t108 · r4 · c9 · span 561486–561492
9Section 08, Amy BradleyDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 65,598. Filing ↗machine: t108 · r3 · c9 · span 559405–559411
10Section 08, Daniel A. OnoratoDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 57,048. Filing ↗machine: t108 · r8 · c9 · span 569268–569274
11Section 08, David J. HicktonDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 49,548. Filing ↗machine: t108 · r5 · c9 · span 563290–563296
12Section 08, Jeffrey A. StopkoDEF 14A2026-06-080001140361-26-024337Section “Director Compensation”. As printed: 0. Filing ↗
13Section 06, 2026 voteForm 8-K2026-07-240001104659-26-086662Item 5.07 · say-on-pay result. As reported: 74.36% (votes for as printed: 8,217,712). Filing ↗machine: span 25692–28770
14Section 06, 2025 voteForm 8-K2025-07-300001104659-25-071955Item 5.07 · say-on-pay result. As reported: 57.16% (votes for as printed: 6,194,419). Filing ↗
15Section 06, 2024 voteForm 8-K2024-08-210001104659-24-091623Item 5.07 · say-on-pay result. As reported: 56.01% (votes for as printed: 6,081,562). Filing ↗
16Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
17Section 09b board cost (computed)ComputedcomputedCash 378,350 + equity 192,486 + all other 0 = 570,836, summed across the director compensation table rows.machine: formula: Σ = 570,836
18Meridian Corp., Section 10b CEO totalDEF 14A2026-04-060001750735-26-000027CEO total compensation as printed in Meridian Corp.'s own proxy. As printed: 1,677,997. Filing ↗machine: t18 · r2 · c16 · span 375734–375743
19Chemung Financial Corporation, Section 10b CEO totalDEF 14A2026-04-230000763563-26-000009CEO total compensation as printed in Chemung Financial Corporation's own proxy. As printed: 1,417,130. Filing ↗machine: span 469180–469189
20Middlefield Banc Corporation, Section 10b CEO totalDEF 14A2025-04-040001174947-25-000521CEO total compensation as printed in Middlefield Banc Corporation's own proxy. As printed: 1,263,438. Filing ↗machine: r1 · c7 · span 147774–147783
21First United Corporation, Section 10b CEO totalDEF 14A2026-03-250001104659-26-034521CEO total compensation as printed in First United Corporation's own proxy. As printed: 1,042,004. Filing ↗machine: t64 · r5 · c14 · span 375614–375623
22Citizens & Northern Corporation, Section 10b CEO totalDEF 14A2026-03-130001104659-26-027576CEO total compensation as printed in Citizens & Northern Corporation's own proxy. As printed: 1,041,499. Filing ↗machine: r8 · c26 · span 452428–452437
23SB Financial Corp., Section 10b CEO totalDEF 14A2026-03-060001213900-26-024511CEO total compensation as printed in SB Financial Corp.'s own proxy. As printed: 1,040,425. Filing ↗machine: t67 · span 302297–302306
24Norwood Financial Corporation, Section 10b CEO totalDEF 14A2026-03-250001193125-26-122940CEO total compensation as printed in Norwood Financial Corporation's own proxy. As printed: 1,009,784. Filing ↗machine: t30 · r2 · c31 · span 174499–174508
25Franklin Financial Services Corporation, Section 10b CEO totalDEF 14A2026-03-240000723646-26-000020CEO total compensation as printed in Franklin Financial Services Corporation's own proxy. As printed: 788,859. Filing ↗machine: t25 · r8 · c12 · span 1148338–1148345
26CB Financial Services, Inc., Section 10b CEO totalDEF 14A2026-04-090001605301-26-000012CEO total compensation as printed in CB Financial Services, Inc.'s own proxy. As printed: 753,865. Filing ↗machine: t5 · r2 · c20 · span 224501–224508
27Ohio Valley Bancorp, Section 10b CEO totalDEF 14A2026-04-020001140361-26-013025CEO total compensation as printed in Ohio Valley Bancorp's own proxy. As printed: 702,007. Filing ↗machine: t50 · r3 · c18 · span 229272–229279
28Ameriserv Financial Inc (subject), Section 10b CEO totalDEF 14A2026-06-080001140361-26-024337CEO total compensation as printed in Ameriserv Financial Inc's own proxy. As printed: 626,931. Filing ↗machine: t71 · r2 · c27 · span 352026–352033
29Old Point Financial Corporation, Section 10b CEO totalDEF 14A2024-04-170001140361-24-020305CEO total compensation as printed in Old Point Financial Corporation's own proxy. As printed: 587,065. Filing ↗machine: r1 · c7 · span 373898–373905
30National Bankshares, Inc., Section 10b CEO totalDEF 14A2026-03-310001193125-26-133527CEO total compensation as printed in National Bankshares, Inc.'s own proxy. As printed: 562,269. Filing ↗
31Section 10a, Chemung Financial Corporation reciprocityDEF 14A0000763563-26-000009Chemung Financial Corporation's most recent proxy was read; its disclosed peer group does not include Ameriserv Financial Inc. Filing ↗
32Section 10a, SB Financial Corp. reciprocityDEF 14A0001213900-26-024511SB Financial Corp. names Ameriserv Financial Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
33Section 10a, Middlefield Banc Corporation reciprocityDEF 14A0001174947-25-000521Middlefield Banc Corporation's most recent proxy was read; its disclosed peer group does not include Ameriserv Financial Inc. Filing ↗
34Section 10a, Old Point Financial Corporation reciprocityDEF 14A0001140361-24-020305Old Point Financial Corporation names Ameriserv Financial Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗