CEO M. Ray (Hoppy) Cole, Jr. was paid $2,426,148 in fiscal year 2023, ↓ down 21.2% from fiscal year 2022 (SEC filing 0001104659-24-045454 ↗): 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.
$2,426,148 ↓ M. Ray (Hoppy) Cole, Jr. total, FY2023 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 97.34% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| M. Ray (Hoppy) Cole, Jr. | $706,072 | $0 | $803,443 | $0 | $224,831 | $663,535 | $28,267 | $2,426,148 |
| President and Chief Executive Officer | ||||||||
| Donna T. (Dee Dee) Lowery | 385,967 | 0 | 329,866 | 0 | 62,016 | 294,625 | 16,142 | 1,088,616 |
| Executive Vice President and Chief Financial Officer | ||||||||
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.
| Named executive officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| M. Ray (Hoppy) Cole, Jr. | $2,426,148 | $3,079,429 | $1,677,507 | ↓ −653,281 |
| Donna T. (Dee Dee) Lowery | 1,088,616 | 1,226,198 | 770,988 | ↓ −137,582 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses FBMS 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 FBMS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2023 total |
|---|---|---|
| Andrew D. Stetelman | Independent Director | $77,710 |
| Charles R. Lightsey | Independent Director | $98,160 |
| David W. Bomboy, M.D | Independent Director | $78,110 |
| E. Ricky Gibson | Independent Director | $104,960 |
| Fred A. McMurry | Independent Director | $81,910 |
| J. Douglas Seidenburg | Independent Director | $88,160 |
| Jonathan A. Levy | Independent Director | $74,260 |
| Renee Moore | Independent Director | $68,860 |
| Rodney D. Bennett, Ed.D | Independent Director | $6,800 |
| Ted E. Parker | Lead Independent Director | $95,960 |
| Thomas E. Mitchell | Independent Director | $68,710 |
| Valencia M. Williamson | Independent Director | $15,200 |
Every insider equity transaction reported on Form 4 after the 2023 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Renee Moore | Director | 2025-04-01 | D | 7,264.17 | — | — | Common | Form 4 ↗ |
| M. Ray Cole Jr | Director | 2025-04-01 | D | 114,000 | — | — | Common | Form 4 ↗ |
| E. Ricky Gibson | Director | 2025-04-01 | D | 110,580 | — | — | Common | Form 4 ↗ |
| Ted E. Parker | Director | 2025-04-01 | D | 92,376 | — | — | Common | Form 4 ↗ |
| J. Douglas Seidenburg | Director | 2025-04-01 | D | 102,484 | — | — | Common | Form 4 ↗ |
| Andrew D. Stetelman | Director | 2025-04-01 | D | 59,636 | — | — | Common | Form 4 ↗ |
| Valencia M. Williamson | Director | 2025-04-01 | D | 2,711 | — | — | Common | Form 4 ↗ |
| Donna T. (Dee Dee) Lowery | Chief Financial Officer | 2025-04-01 | D | 52,550 | — | — | Common | Form 4 ↗ |
| Jonathan A. Levy | Director | 2025-04-01 | D | 15,729 | — | — | Common | Form 4 ↗ |
| David W. Bomboy | Director | 2025-04-01 | D | 134,784 | — | — | Common | Form 4 ↗ |
| Charles R. Lightsey | Director | 2025-04-01 | D | 98,060 | — | — | Common | Form 4 ↗ |
| Fred A. McMurry | Director | 2025-04-01 | D | 99,223 | — | — | Common | Form 4 ↗ |
| Thomas E. Mitchell | Director | 2025-04-01 | D | 16,954 | — | — | Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Donna T. (Dee Dee) Lowery | PSU | 2023-05-25 | — | 4,719 | 3,229 | 9,439 | $329,866 |
| M. Ray (Hoppy) Cole, Jr. | PSU | 2023-05-25 | — | 12,083 | 11,521 | 19,333 | 803,443 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Donna T. (Dee Dee) Lowery | $0 | $329,866 | $0 | 100.0% |
| M. Ray (Hoppy) Cole, Jr. | 0 | 803,443 | 0 | 100.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| M. Ray (Hoppy) Cole, Jr. | RSU | 11,521 | — | $300,007 |
| Donna T. (Dee Dee) Lowery | RSU | 9,761 | — | 287,266 |
| Donna T. (Dee Dee) Lowery | RSU | 575 | — | 17,302 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 6,500 | — | 213,395 |
| Donna T. (Dee Dee) Lowery | RSU | 732 | — | 14,947 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 4,900 | — | 100,058 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 10,475 | — | 328,706 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 3,334 | — | 100,320 |
| Donna T. (Dee Dee) Lowery | RSU | 5,085 | — | 177,635 |
| Donna T. (Dee Dee) Lowery | RSU | 3,300 | — | 108,339 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 5,341 | — | 159,375 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 34,990 | — | 1,029,756 |
| Donna T. (Dee Dee) Lowery | RSU | 2,739 | — | 96,714 |
| Donna T. (Dee Dee) Lowery | RSU | 4,081 | — | 106,269 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 5,395 | — | 190,497 |
| Donna T. (Dee Dee) Lowery | RSU | 2,712 | — | 80,926 |
| Donna T. (Dee Dee) Lowery | RSU | 1,500 | — | 39,060 |
| Donna T. (Dee Dee) Lowery | RSU | 1,729 | — | 45,023 |
| M. Ray (Hoppy) Cole, Jr. | RSU | 8,455 | — | 220,168 |
Compensation (cash and/or equity) is intended to target cash and direct compensation at the 50th percentile when target performance is achieved and between the 60th and 75th percentiles when annual/long-term goals are exceeded.
| CEO STI target (% of salary) | 45% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Blanchard Consulting Group |
| Clawback policy | True |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-05-25 | 22,179,525 | 605,262 | 97,162 | 97.34% | Passed |
| 2021 | 2021-05-20 | 13,725,530 | 739,784 | 190,226 | 94.89% | Passed |
| 2020 | 2020-05-28 | 9,814,956 | 3,489,915 | 194,361 | 73.77% | Passed |
| 2019 | 2019-05-16 | 10,960,643 | 62,699 | 137,168 | 99.43% | Passed |
| 2018 | 2018-05-24 | 8,390,162 | 10,972 | 198,458 | 99.87% | Passed |
| 2017 | 2017-05-25 | 5,145,702 | 8,086 | 117,044 | 99.84% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2023 | 2023-05-25 | 97.34%a |
| 2021 | 2021-05-20 | 94.89%b |
| 2020 | 2020-05-28 | 73.77%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| E. Ricky GibsonIndependent | $58,800 | $46,160 | $0 | — | $0 | $104,960 |
| Charles R. LightseyIndependent · Audit · Corporate Governance (Chair) · Executive · Risk (Chair) · Governance (Chair) | 66,500 | 31,660 | 0 | — | 0 | 98,160 |
| Ted E. ParkerIndependent · Lead Independent Director · Compensation · Corporate Governance · Executive (Chair) | 64,300 | 31,660 | 0 | — | 0 | 95,960 |
| J. Douglas SeidenburgIndependent · Audit (Chair) · Executive | 56,500 | 31,660 | 0 | — | 0 | 88,160 |
| Fred A. McMurryIndependent · Corporate Governance · Risk | 50,250 | 31,660 | 0 | — | 0 | 81,910 |
| David W. Bomboy, M.DIndependent · Compensation (Chair) · Executive | 46,450 | 31,660 | 0 | — | 0 | 78,110 |
| Andrew D. StetelmanIndependent · Compensation | 46,050 | 31,660 | 0 | — | 0 | 77,710 |
| Jonathan A. LevyIndependent · Compensation | 42,600 | 31,660 | 0 | — | 0 | 74,260 |
| Renee MooreIndependent · Audit · Risk | 37,200 | 31,660 | 0 | — | 0 | 68,860 |
| Thomas E. MitchellIndependent · Audit · Corporate Governance | 37,050 | 31,660 | 0 | — | 0 | 68,710 |
| Valencia M. WilliamsonIndependent · Audit · Newly elected | 15,200 | 0 | 0 | — | 0 | 15,200 |
| Rodney D. Bennett, Ed.DIndependent | 6,800 | 0 | 0 | — | 0 | 6,800 |
| M. Ray (Hoppy) Cole, JrEmployee director · Executive · Risk | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $7,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 5,000 / 5,000 / 5,000 |
| Stock ownership guideline | — |
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $527,700 |
| Equity awards (grant-date value) | $331,100 |
| All other compensation | $0 |
| Total cost of the board | $858,800 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | First Bancshares | 2023 | M. Ray (Hoppy) Cole, Jr. | $706,072 | $803,443 | $0 | $224,831 | $2,426,148 |
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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, M. Ray (Hoppy) Cole, Jr. | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Executive Compensation Tables”. As printed: 2,426,148. Filing ↗machine: t110 · r1 · c27 · span 276290–276299 |
| 2 | Section 01, Donna T. (Dee Dee) Lowery | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Executive Compensation Tables”. As printed: 1,088,616. Filing ↗machine: r4 · c27 · span 283418–283427 |
| 3 | Section 03, Donna T. (Dee Dee) Lowery PSU | DEF 14A | 1900-01-01 | 0001104659-24-045454 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 4 | Section 03, M. Ray (Hoppy) Cole, Jr. PSU | DEF 14A | 1900-01-01 | 0001104659-24-045454 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 473638–473645 |
| 5 | Section 08, E. Ricky Gibson | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 104,960. Filing ↗machine: t166 · r3 · c11 · span 524816–524823 |
| 6 | Section 08, Charles R. Lightsey | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 98,160. Filing ↗machine: t166 · r5 · c11 · span 526953–526959 |
| 7 | Section 08, Ted E. Parker | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 95,960. Filing ↗machine: t166 · r9 · c11 · span 531212–531218 |
| 8 | Section 08, J. Douglas Seidenburg | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 88,160. Filing ↗machine: t166 · r10 · c11 · span 532278–532284 |
| 9 | Section 08, Fred A. McMurry | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 81,910. Filing ↗machine: t166 · r6 · c11 · span 528013–528019 |
| 10 | Section 08, David W. Bomboy, M.D | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 78,110. Filing ↗machine: span 523745–523751 |
| 11 | Section 08, Andrew D. Stetelman | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 77,710. Filing ↗machine: t166 · r11 · c11 · span 533353–533359 |
| 12 | Section 08, Jonathan A. Levy | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 74,260. Filing ↗machine: t166 · r4 · c11 · span 525878–525884 |
| 13 | Section 08, Renee Moore | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 68,860. Filing ↗machine: t166 · r8 · c11 · span 530143–530149 |
| 14 | Section 08, Thomas E. Mitchell | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 68,710. Filing ↗machine: t166 · r7 · c11 · span 529087–529093 |
| 15 | Section 08, Valencia M. Williamson | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 15,200. Filing ↗machine: t166 · r12 · c3 · span 533820–533826 |
| 16 | Section 08, Rodney D. Bennett, Ed.D | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 6,800. Filing ↗machine: t166 · r1 · c3 · span 521995–522000 |
| 17 | Section 08, M. Ray (Hoppy) Cole, Jr | DEF 14A | 2024-04-10 | 0001104659-24-045454 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 02, Renee Moore 2025-04-01 | Form 4 | 2025-04-02 | 0001812982-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, M. Ray Cole Jr 2025-04-01 | Form 4 | 2025-04-02 | 0001250425-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, E. Ricky Gibson 2025-04-01 | Form 4 | 2025-04-02 | 0001250426-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Ted E. Parker 2025-04-01 | Form 4 | 2025-04-02 | 0001250434-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, J. Douglas Seidenburg 2025-04-01 | Form 4 | 2025-04-02 | 0001250442-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Andrew D. Stetelman 2025-04-01 | Form 4 | 2025-04-02 | 0001250444-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Valencia M. Williamson 2025-04-01 | Form 4 | 2025-04-02 | 0001979403-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Donna T. (Dee Dee) Lowery 2025-04-01 | Form 4 | 2025-04-02 | 0001323191-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Jonathan A. Levy 2025-04-01 | Form 4 | 2025-04-02 | 0001139942-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, David W. Bomboy 2025-04-01 | Form 4 | 2025-04-03 | 0001252058-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Charles R. Lightsey 2025-04-01 | Form 4 | 2025-04-02 | 0001250429-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Fred A. McMurry 2025-04-01 | Form 4 | 2025-04-02 | 0001250430-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Thomas E. Mitchell 2025-04-01 | Form 4 | 2025-04-02 | 0001707920-25-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 06, 2023 vote | Form 8-K | 2023-05-26 | 0001104659-23-065535 | Item 5.07 · say-on-pay result. As reported: 97.34% (votes for as printed: 22,179,525). Filing ↗ |
| 32 | Section 06, 2021 vote | Form 8-K | 2021-05-24 | 0001104659-21-071285 | Item 5.07 · say-on-pay result. As reported: 94.89%. Filing ↗ |
| 33 | Section 06, 2020 vote | Form 8-K | 2020-05-29 | 0001104659-20-067709 | Item 5.07 · say-on-pay result. As reported: 73.77%. Filing ↗ |
| 34 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 35 | 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).machine: formula: sums + PSU ratio |
| 36 | Section 09b board cost (computed) | Computed | — | — | Cash 527,700 + equity 331,100 + all other 0 = 858,800, summed across the director compensation table rows.machine: formula: Σ = 858,800 |
| 37 | First Bancshares (subject), Section 10b CEO total | DEF 14A | 2024-04-10 | 0001104659-24-045454 | CEO total compensation as printed in First Bancshares's own proxy. As printed: 2,426,148. Filing ↗machine: t110 · r1 · c27 · span 276290–276299 |
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