Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-20

Bank of the James Financial Group (BOTJ)

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.

$873,895
Robert Chapman III total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
98.72%
Say-on-pay support, latest vote
Companies that benchmark against BOTJ
1 company names BOTJ as a compensation peer

Each company listed discloses BOTJ 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 BOTJ 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
Robert Chapman III$400,555$165,000$0$0$0$0$308,340$873,895
President of Financial and Chief Executive Officer of the Bank
Michael Syrek313,296140,0000000109,432562,728
President of the Bank
J. Todd Scruggs321,51875,0000000118,548515,066
Secretary-Treasurer of Financial and EVP and CFO of the 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
Robert Chapman III$873,895
Michael Syrek562,728
J. Todd Scruggs515,066512,923+2,143

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

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Lewis C. AddisonDirector2026-05-06A82$23$1,900CommonForm 4 ↗
William C. Bryant IIIDirector2026-05-06A1,0432324,104CommonForm 4 ↗
Phillip C. JamersonDirector2026-05-07A1,0002323,397CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Robert Chapman IIIRSU480,693$12,945,057
Michael SyrekRSU28,139757,786
05

Incentive-plan design — the Compensation Discussion & Analysis

The Board of Directors believes that executive compensation should support the Company's long-term strategy and align management's interests with those of shareholders.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-192,403,28931,08244,02798.72%Passed
20252025-05-202,102,24047,65764,14397.78%Passed
20242024-05-212,092,070208,16231,70990.95%Passed
20232023-05-051,769,847238,80323,11088.11%Passed
20222022-05-171,866,537470,16052,04679.88%Passed
20212021-05-182,380,178246,18640,57690.63%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
20262026-05-1998.72%a
20252025-05-2097.78%b
20242024-05-2190.95%c

a. Approved under the standard stated in the filing — “Similarly, an abstention -- when a shareholder chooses not to vote on a particular proposal -- also counts toward determining a quorum but is not considered a vote cast and therefore will not affect the outcome of any proposal.”.

b. Approved under the standard stated in the filing — “Similarly, an abstention --when a shareholder chooses not to vote on a particular proposal--also counts toward determining a quorum but is not considered a vote cast and therefore will not affect the outcome of any proposal.”.

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.

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
Thomas W. Pettyjohn JrIndependent · Not standing for re-election · Departed during FY$28,100$0$0$25,000$53,100
Augustus A. Petticolas JrIndependent · Board Chair · Compensation (Chair) · Executive (Chair)48,6000048,600
Lydia K. LangleyIndependent · Audit36,8000036,800
John R. Alford JrIndependent · Audit32,0000032,000
Lewis C. AddisonIndependent · Audit (Chair)29,0000029,000
Julie P. DoyleIndependent · Audit26,0000026,000
William C. Bryant IIIIndependent · Compensation25,8000025,800
Phillip C. JamersonIndependent · Audit25,8000025,800
Watt R. Foster JrIndependent · Nominating (Chair)24,8000024,800
A. Douglas Dalton IIIIndependent · Audit21,4000021,400
James F. DalyIndependent · Not standing for re-election · Departed during FY17,0000017,000
Robert R. Chapman IIIEmployee director · Executive00000
J. Todd ScruggsEmployee director · Not standing for re-election · Departed during FY00000
09

Board fee structure and ownership guideline

Annual cash retainer$8,000
Annual equity retainer
Per board meeting fee$1,000
Committee chair fees (audit / comp / nom-gov)3,000 / 2,000 / 2,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$315,300
Equity awards (grant-date value)$0
All other compensation$25,000
Total cost of the board$340,300

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

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
1Bank of the James Financial Group2025Robert Chapman III$400,555$0$0$0$873,895

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.

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, Robert Chapman IIIDEF 14A2026-04-060001275101-26-000013Section “Summary Compensation Table—2025”. As printed: 873,895. Filing ↗machine: t13 · r4 · c6 · span 499559–499566
2Section 01, Michael SyrekDEF 14A2026-04-060001275101-26-000013Section “Summary Compensation Table—2025”. As printed: 562,728. Filing ↗machine: t13 · r10 · c6 · span 523120–523127
3Section 01, J. Todd ScruggsDEF 14A2026-04-060001275101-26-000013Section “Summary Compensation Table—2025”. As printed: 515,066. Filing ↗machine: t13 · r7 · c6 · span 511330–511337
4Section 07, pay ratio10-K2026-03-270001275101-26-000010Section “CEO Pay Ratio”. As printed: —. Filing ↗
5Section 08, Thomas W. Pettyjohn JrDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 53,100. Filing ↗machine: r13 · c5 · span 462074–462080
6Section 08, Augustus A. Petticolas JrDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 48,600. Filing ↗machine: r12 · c1 · span 456801–456807
7Section 08, Lydia K. LangleyDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 36,800. Filing ↗machine: t12 · r11 · c1 · span 453607–453613
8Section 08, John R. Alford JrDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 32,000. Filing ↗machine: r3 · c1 · span 428139–428145
9Section 08, Lewis C. AddisonDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 29,000. Filing ↗machine: t12 · r2 · c1 · span 424851–424857
10Section 08, Julie P. DoyleDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 26,000. Filing ↗machine: t12 · r8 · c1 · span 444052–444058
11Section 08, William C. Bryant IIIDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 25,800. Filing ↗machine: t12 · r4 · c1 · span 431327–431333
12Section 08, Phillip C. JamersonDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 25,800. Filing ↗machine: t12 · r10 · c1 · span 450424–450430
13Section 08, Watt R. Foster JrDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 24,800. Filing ↗machine: r9 · c1 · span 447238–447244
14Section 08, A. Douglas Dalton IIIDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 21,400. Filing ↗machine: t12 · r6 · c1 · span 437691–437697
15Section 08, James F. DalyDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 17,000. Filing ↗machine: t12 · r7 · c1 · span 440871–440877
16Section 08, Robert R. Chapman IIIDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 0. Filing ↗machine: t12 · r5 · c5 · span 436360–436362
17Section 08, J. Todd ScruggsDEF 14A2026-04-060001275101-26-000013Section “Director Compensation”. As printed: 0. Filing ↗machine: t12 · r14 · c5 · span 465124–465126
18Section 02, Lewis C. Addison 2026-05-06Form 42026-05-070001437749-26-015565Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, William C. Bryant III 2026-05-06Form 42026-05-070001437749-26-015552Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Phillip C. Jamerson 2026-05-07Form 42026-05-080001437749-26-015861Insider equity transaction reported since the proxy statement. Filing ↗
21Section 06, 2026 voteForm 8-K2026-05-200001275101-26-000021Item 5.07 · say-on-pay result. As reported: 98.72% (votes for as printed: 2,403,289). Filing ↗
22Section 06, 2025 voteForm 8-K2025-05-210001562762-25-000138Item 5.07 · say-on-pay result. As reported: 97.78% (votes for as printed: 2,102,240). Filing ↗
23Section 06, 2024 voteForm 8-K2024-05-230001562762-24-000150Item 5.07 · say-on-pay result. As reported: 90.95% (votes for as printed: 2,092,070). Filing ↗
24Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 09b board cost (computed)ComputedcomputedCash 315,300 + equity 0 + all other 25,000 = 340,300, summed across the director compensation table rows.machine: formula: Σ = 340,300
26Bank of the James Financial Group (subject), Section 10b CEO totalDEF 14A2026-04-060001275101-26-000013CEO total compensation as printed in Bank of the James Financial Group's own proxy. As printed: 873,895. Filing ↗machine: t13 · r4 · c6 · span 499559–499566