Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-26

First Northern Community Bancorp (FNRN)

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.

$931,888
Jeremiah Smith total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
98.83%
Say-on-pay support, latest vote
Companies that benchmark against FNRN
4 companies name FNRN as a compensation peer

Each company listed discloses FNRN 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 FNRN 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
Jeremiah Smith$500,175$0$139,300$0$115,823$0$176,590$931,888
President, Chief Executive Officer and Director of the Bank and Company
Kevin Spink313,83550,00059,700054,505052,620530,660
Executive Vice President, Chief Financial Officer of the Bank and Company
Brett Hamilton295,495059,700051,320083,529490,044
Executive Vice President, Chief Credit Officer of the Bank and Company

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
Jeremiah Smith$931,888$831,346+100,542
Kevin Spink530,660474,455+56,205
Brett Hamilton490,044406,861+83,183

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
Kevin SpinkEVP/Chief Financial Officer2026-05-04D8,271$17$140,936CommonForm 4 ↗
Mark C. SchulzeDirector2026-05-08D3,0001853,342CommonForm 4 ↗
Jeremiah Zachary SmithDirector2026-05-13D76181,348CommonForm 4 ↗
Mark C. SchulzeDirector2026-05-14D2,0001835,572CommonForm 4 ↗
Jeremiah Zachary SmithDirector2026-05-15D6,78318120,003CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jeremiah SmithOTHER$139,300
Brett HamiltonOTHER59,700
Kevin SpinkOTHER59,700
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Jeremiah SmithOption7,6478.44
Brett HamiltonRSU11,542146,866
Jeremiah SmithRSU62,171791,072
Kevin SpinkRSU34,654440,933
Kevin SpinkOption5,2438.44
05

Incentive-plan design — the Compensation Discussion & Analysis

align their interests with those of our shareholders and motivate the named executive officers to focus on the strategic goals that will produce outstanding Company financial performance. An additional part of the Company s compensation philosophy is that a significant portion of a named executive officer s compensation should be at risk and tied to performance.

CEO STI target (% of salary)40%
CEO LTI target (% of salary)
Independent consultantAon's Human Capital Solutions practice (McLagan)
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-199,144,400107,971165,18098.83%Passed
20232023-05-167,842,207141,661510,92498.23%Passed
20202020-06-257,651,393147,875231,87298.1%Passed
20172017-05-165,588,476166,176395,00297.11%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
20262026-05-1998.83%a
20232023-05-1698.23%b
20202020-06-2598.1%c

a. Approved under the standard stated in the filing — “Abstentions and broker "non-votes" will have no effect on the outcome of the election of directors, and a broker "non-vote" does not count as a vote in favor of or against a particular proposal for which the broker has no discretionary voting authority, including Proposal 2.”.

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.

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
Sean P. QuinnIndependent · Board Chair · Audit · Compensation (Chair) · Loan · Nominating and Corporate Governance (Chair) · Profit Sharing$40,800$0$0$0$0$40,800
Louise A. WalkerNot independent · Asset/Liability · Asset Quality · Compliance · Information Services Steering · Loan · Profit Sharing38,000000038,000
Barbara A. HayesIndependent · Asset/Liability · Compensation · Compliance · Loan (Chair) · Nominating and Corporate Governance34,900000034,900
John M. CarbahalIndependent · Audit (Chair) · Asset Quality · Loan · Nominating and Corporate Governance34,500000034,500
Gregory DuPrattIndependent · Asset/Liability · Compensation · Loan · Nominating and Corporate Governance33,000000033,000
Richard M. MartinezIndependent · Compensation · Information Services Steering · Loan · Nominating and Corporate Governance31,500000031,500
Mark C. SchulzeIndependent · Audit · Compliance · Information Services Steering29,000000029,000
Patrick R. BradyIndependent · Asset/Liability · Audit · Compensation24,000000024,000
Foy S. McNaughtonIndependent · Departed during FY17,708000017,708
Richard BedoyaIndependent · Asset/Liability · Audit · Loan · Partial-year service · Newly elected16,250000016,250
Jean-Luc ServatIndependent · Asset/Liability · Audit · Compliance · Partial-year service · Newly elected000000
Jeremiah Z. SmithEmployee director · Asset/Liability · Asset Quality · Compliance · Information Services Steering · Loan · Profit Sharing00000
09

Board fee structure and ownership guideline

Annual cash retainer$5,500
Annual equity retainer
Per board meeting fee$1,500
Committee chair fees (audit / comp / nom-gov)700 / 600 / 600
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$299,658
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$299,658

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
1First Northern Community Bancorp2025Jeremiah Smith$500,175$139,300$0$115,823$931,888

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at First Northern Community Bancorp in fiscal 2025?
The highest-paid executive at First Northern Community Bancorp in fiscal 2025 was Jeremiah Smith, who served as President, Chief Executive Officer and Director of the Bank and Company with total compensation of $931,888.
How does First Northern Community Bancorp's chief executive pay compare to its disclosed peer group?
The CEO pay percentile of disclosed peers is not disclosed in this extract.
What is First Northern Community Bancorp'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 First Northern Community Bancorp's executive compensation?
Shareholders voted 98.83% in support of the executive compensation plan.
How much does First Northern Community Bancorp spend in total on board compensation for fiscal 2025?
The company reported total board compensation for fiscal 2025 was $299,658.

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, Jeremiah SmithDEF 14A2026-04-090001437749-26-011866Section “Summary Compensation Table”. As printed: 931,888. Filing ↗machine: r1 · c18 · span 281754–281761
2Section 01, Kevin SpinkDEF 14A2026-04-090001437749-26-011866Section “Summary Compensation Table”. As printed: 530,660. Filing ↗machine: r5 · c18 · span 299875–299882
3Section 01, Brett HamiltonDEF 14A2026-04-090001437749-26-011866Section “Summary Compensation Table”. As printed: 490,044. Filing ↗machine: r3 · c18 · span 290750–290757
4Section 03, Jeremiah Smith OTHERDEF 14A2026-04-090001437749-26-011866Section “RATIFICATION OF THE APPOINTMENT BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF BAKER TILLY US LLP AS THE INDEPENDE” · grants of plan-based awards table. Filing ↗machine: t58 · r1 · c9 · span 279865–279872
5Section 03, Brett Hamilton OTHERDEF 14A2026-04-090001437749-26-011866Section “RATIFICATION OF THE APPOINTMENT BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF BAKER TILLY US LLP AS THE INDEPENDE” · grants of plan-based awards table. Filing ↗machine: t58 · r3 · c9 · span 288864–288870
6Section 03, Kevin Spink OTHERDEF 14A2026-04-090001437749-26-011866Section “RATIFICATION OF THE APPOINTMENT BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF BAKER TILLY US LLP AS THE INDEPENDE” · grants of plan-based awards table. Filing ↗machine: t58 · r5 · c9 · span 297989–297995
7Section 07, pay ratio10-K2026-03-130001437749-26-008040Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, Sean P. QuinnDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 40,800. Filing ↗machine: t18 · r9 · c1 · span 157154–157160
9Section 08, Louise A. WalkerDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 38,000. Filing ↗machine: t18 · r12 · c1 · span 158460–158466
10Section 08, Barbara A. HayesDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 34,900. Filing ↗machine: t18 · r6 · c1 · span 155861–155867
11Section 08, John M. CarbahalDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 34,500. Filing ↗machine: t18 · r4 · c1 · span 155044–155050
12Section 08, Gregory DuPrattDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 33,000. Filing ↗machine: t18 · r5 · c1 · span 155452–155458
13Section 08, Richard M. MartinezDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 31,500. Filing ↗machine: t18 · r7 · c1 · span 156273–156279
14Section 08, Mark C. SchulzeDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 29,000. Filing ↗machine: t18 · r10 · c1 · span 157562–157568
15Section 08, Patrick R. BradyDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 24,000. Filing ↗machine: t18 · r3 · c1 · span 154635–154641
16Section 08, Foy S. McNaughtonDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 17,708. Filing ↗machine: t18 · r8 · c1 · span 156748–156754
17Section 08, Richard BedoyaDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 16,250. Filing ↗machine: t18 · r2 · c1 · span 154226–154232
18Section 08, Jean-Luc ServatDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 0. Filing ↗machine: t18 · r11 · c1 · span 158023–158025
19Section 08, Jeremiah Z. SmithDEF 14A2026-04-090001437749-26-011866Section “Director Compensation”. As printed: 0. Filing ↗
20Section 02, Kevin Spink 2026-05-04Form 42026-05-060001114927-26-000044Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Mark C. Schulze 2026-05-08Form 42026-05-110001114927-26-000055Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Jeremiah Zachary Smith 2026-05-13Form 42026-05-140001114927-26-000062Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Mark C. Schulze 2026-05-14Form 42026-05-140001114927-26-000060Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Jeremiah Zachary Smith 2026-05-15Form 42026-05-180001114927-26-000068Insider equity transaction reported since the proxy statement. Filing ↗
25Section 06, 2026 voteForm 8-K2026-05-260001114927-26-000070Item 5.07 · say-on-pay result. As reported: 98.83% (votes for as printed: 9,144,400). Filing ↗
26Section 06, 2023 voteForm 8-K2023-05-220001114927-23-000013Item 5.07 · say-on-pay result. As reported: 98.23% (votes for as printed: 7,842,207). Filing ↗
27Section 06, 2020 voteForm 8-K2020-06-290001114927-20-000019Item 5.07 · say-on-pay result. As reported: 98.1%. Filing ↗
28Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
29Section 09b board cost (computed)ComputedcomputedCash 299,658 + equity 0 + all other 0 = 299,658, summed across the director compensation table rows.machine: formula: Σ = 299,658
30First Northern Community Bancorp (subject), Section 10b CEO totalDEF 14A2026-04-090001437749-26-011866CEO total compensation as printed in First Northern Community Bancorp's own proxy. As printed: 931,888. Filing ↗machine: r1 · c18 · span 281754–281761