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.
This is the complete answer, not a partial one — the list is never padded.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Benjamin J. Bochnowski | $416,146 | $0 | $0 | $0 | $32,868 | $0 | $31,672 | $480,686 |
| President and Chief Executive Officer | ||||||||
| Todd M. Scheub | 316,113 | 0 | 6,849 | 0 | 21,411 | 0 | 27,864 | 372,237 |
| Executive Vice President, Chief Revenue Officer; President of Peoples Bank | ||||||||
| Robert T. Lowry | 275,774 | 0 | 5,250 | 0 | 15,566 | 0 | 30,205 | 326,795 |
| Executive Vice President, Chief Operating Officer | ||||||||
| Benjamin L. Schmitt | 250,169 | 0 | 4,690 | 0 | 14,120 | 0 | 20,537 | 289,516 |
| Executive Vice President, Chief Financial Officer and Treasurer | ||||||||
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 | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Benjamin J. Bochnowski | $480,686 | — | — | — |
| Todd M. Scheub | 372,237 | — | — | — |
| Robert T. Lowry | 326,795 | — | — | — |
| Benjamin L. Schmitt | 289,516 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Robert E. Johnson III | Director | 2026-05-22 | A | 5.45 | $36 | $195 | Common | Form 4 ↗ |
| Robert E. Johnson III | Director | 2026-05-22 | A | 372 | 32 | 11,993 | Common | Form 4 ↗ |
| Jennifer R. Evans | Director | 2026-05-22 | A | 372 | 32 | 11,993 | Common | Form 4 ↗ |
| Amy Wong Han | Director | 2026-05-22 | A | 372 | 32 | 11,993 | Common | Form 4 ↗ |
| Anthony Puntillo | Director | 2026-05-22 | A | 372 | 32 | 11,993 | Common | Form 4 ↗ |
| Robert W. Youman | Director | 2026-05-22 | A | 372 | 32 | 11,993 | Common | Form 4 ↗ |
| Joel Gorelick | Director | 2026-05-22 | A | 372 | 32 | 11,993 | Common | Form 4 ↗ |
| Martin P. Alwin | Director | 2026-05-22 | A | 372 | 32 | 11,993 | Common | Form 4 ↗ |
| Robert T. Lowry | Executive Vice President | 2026-06-30 | A | 50.64 | 36 | 1,823 | Common | Form 4 ↗ |
| Benjamin J. Bochnowski | Director | 2026-06-30 | A | 6.21 | 36 | 223 | Common | Form 4 ↗ |
| Todd M. Scheub | Executive Vice President | 2026-06-30 | A | 38.96 | 36 | 1,402 | Common | Form 4 ↗ |
| Amy Wong Han | Director | 2026-06-30 | A | 3.59 | 36 | 128 | Common | Form 4 ↗ |
| Anthony Puntillo | Director | 2026-06-30 | A | 6.52 | 36 | 233 | 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 |
|---|---|---|---|---|---|---|---|
| Robert T. Lowry | PSU | — | — | — | — | — | $5,250 |
| Todd M. Scheub | PSU | — | — | — | — | — | 6,849 |
| Benjamin L. Schmitt | PSU | — | — | — | — | — | 4,690 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Robert T. Lowry | $0 | $5,250 | $0 | 100.0% |
| Todd M. Scheub | 0 | 6,849 | 0 | 100.0% |
| Benjamin L. Schmitt | 0 | 4,690 | 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 |
|---|---|---|---|---|
| Todd M. Scheub | RSU | 257 | — | $9,044 |
| Todd M. Scheub | RSU | 1,017 | — | 35,788 |
| Benjamin J. Bochnowski | RSU | 1,815 | — | 63,870 |
| Benjamin L. Schmitt | RSU | 2,458 | — | 86,497 |
| Robert T. Lowry | RSU | 197 | — | 6,932 |
| Robert T. Lowry | RSU | 1,024 | — | 36,035 |
| Robert T. Lowry | RSU | 937 | — | 32,973 |
| Benjamin L. Schmitt | RSU | 176 | — | 6,193 |
The Compensation and Benefits Committee aims to award compensation appropriate for the Bancorp that furthers long-term strategic objectives, remains consistent with the Bancorp's culture, avoids incentive structures encouraging excessive risk-taking, attracts and retains key management, and aligns management's interests with long-term shareholder interests.
| CEO STI target (% of salary) | 35% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-22 | 2,720,043 | 169,928 | 14,677 | 94.12% | Passed |
| 2025 | 2025-05-22 | 2,520,818 | 338,729 | 67,826 | 88.15% | Passed |
| 2024 | 2024-05-24 | 2,532,835 | 225,114 | 49,873 | 91.84% | Passed |
| 2023 | 2023-05-05 | 2,545,328 | 101,909 | 41,498 | 96.15% | Passed |
| 2022 | 2022-05-20 | 2,299,938 | 258,796 | 146,108 | 89.89% | Passed |
| 2020 | 2020-05-15 | 2,113,954 | 48,162 | 104,947 | 97.77% | 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 |
|---|---|---|
| 2026 | 2026-05-22 | 94.12%a |
| 2025 | 2025-05-22 | 88.15%b |
| 2024 | 2024-05-24 | 91.84%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the advisory vote on executive compensation.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the advisory vote on executive compensation.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the advisory vote on executive compensation.”.
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.
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Joel GorelickIndependent · Board Chair · Executive (Chair) | $61,625 | $11,991 | $0 | — | $0 | $73,616 |
| Robert E. Johnson IIIIndependent · Risk Management and Compliance (Chair) · Compensation and Benefits · Executive | 32,625 | 11,991 | 0 | — | 0 | 44,616 |
| Robert E. Johnson, IIIIndependent · Risk Management and Compliance (Chair) · Compensation and Benefits · Executive | 32,625 | 11,991 | 0 | 0 | 0 | 44,616 |
| Anthony M. Puntillo, D.D.S., M.S.DIndependent · Nominating and Corporate Governance (Chair) · Audit · Executive | 32,042 | 11,991 | 0 | — | 0 | 44,033 |
| Robert W. YoumanIndependent · Audit (Chair) · Nominating and Corporate Governance · Risk Management and Compliance | 32,042 | 11,991 | 0 | — | 0 | 44,033 |
| Jennifer R. EvansIndependent · Compensation and Benefits (Chair) · Nominating and Corporate Governance · Risk Management and Compliance | 30,833 | 11,991 | 0 | — | 0 | 42,824 |
| Martin P. AlwinIndependent · Audit · Compensation and Benefits · Risk Management and Compliance | 28,500 | 11,991 | 0 | — | 0 | 40,491 |
| Danette Garza, J.D., CPAIndependent · Audit · Compensation and Benefits · Risk Management and Compliance · Not standing for re-election | 28,500 | 11,991 | 0 | — | 0 | 40,491 |
| Amy W. Han, Ph.DIndependent · Compensation and Benefits · Nominating and Corporate Governance · Executive | 28,500 | 11,991 | 0 | — | 0 | 40,491 |
| Carolyn M. BurkeIndependent · Audit · Compensation and Benefits · Risk Management and Compliance | 28,500 | 11,991 | 0 | — | 0 | 40,491 |
| James L. Wieser, J.DIndependent · Departed during FY | 22,875 | — | 0 | — | 0 | 22,875 |
| Benjamin J. BochnowskiEmployee director · Executive | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $28,500 |
|---|---|
| Annual equity retainer | $12,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 5,000 / 5,000 / 5,000 |
| Stock ownership guideline | $100,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $358,667 |
| Equity awards (grant-date value) | $119,910 |
| All other compensation | $0 |
| Total cost of the board | $478,577 |
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 | Finward Bancorp | 2025 | Benjamin J. Bochnowski | $416,146 | $0 | $0 | $32,868 | $480,686 |
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, Benjamin J. Bochnowski | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Summary Compensation Table for 2025” · page 17. As printed: 480,686. Filing ↗machine: r3 · c19 · span 228740–228748 |
| 2 | Section 01, Todd M. Scheub | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Summary Compensation Table for 2025” · page 17. As printed: 372,237. Filing ↗machine: r9 · c19 · span 235712–235720 |
| 3 | Section 01, Robert T. Lowry | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Summary Compensation Table for 2025” · page 17. As printed: 326,795. Filing ↗machine: r6 · c19 · span 232252–232260 |
| 4 | Section 01, Benjamin L. Schmitt | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Summary Compensation Table for 2025” · page 17. As printed: 289,516. Filing ↗machine: r12 · c19 · span 239160–239168 |
| 5 | Section 03, Robert T. Lowry PSU | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t45 · r6 · c11 · span 231754–231759 |
| 6 | Section 03, Todd M. Scheub PSU | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t45 · r9 · c11 · span 235214–235219 |
| 7 | Section 03, Benjamin L. Schmitt PSU | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t45 · r12 · c11 · span 238662–238667 |
| 8 | Section 07, pay ratio | 10-K | 2026-03-25 | 0001628280-26-021073 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 9 | Section 08, Joel Gorelick | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 73,616. Filing ↗machine: t62 · r6 · c7 · span 358801–358807 |
| 10 | Section 08, Robert E. Johnson III | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 44,616. Filing ↗machine: r8 · c7 · span 360523–360529 |
| 11 | Section 08, Robert E. Johnson, III | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 44,616. Filing ↗machine: t62 · r8 · c7 · span 360523–360529 |
| 12 | Section 08, Anthony M. Puntillo, D.D.S., M.S.D | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 44,033. Filing ↗machine: t62 · r9 · c7 · span 361387–361393 |
| 13 | Section 08, Robert W. Youman | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 44,033. Filing ↗machine: t62 · r11 · c7 · span 363201–363207 |
| 14 | Section 08, Jennifer R. Evans | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 42,824. Filing ↗machine: t62 · r4 · c7 · span 357081–357087 |
| 15 | Section 08, Martin P. Alwin | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 40,491. Filing ↗machine: t62 · r2 · c7 · span 355365–355371 |
| 16 | Section 08, Danette Garza, J.D., CPA | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 40,491. Filing ↗machine: t62 · r5 · c7 · span 357934–357940 |
| 17 | Section 08, Amy W. Han, Ph.D | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 40,491. Filing ↗machine: t62 · r7 · c7 · span 359647–359653 |
| 18 | Section 08, Carolyn M. Burke | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 40,491. Filing ↗machine: t62 · r3 · c7 · span 356210–356216 |
| 19 | Section 08, James L. Wieser, J.D | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 22,875. Filing ↗machine: t62 · r10 · c2 · span 362019–362025 |
| 20 | Section 08, Benjamin J. Bochnowski | DEF 14A | 2026-04-03 | 0001193125-26-142083 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 02, Robert E. Johnson III 2026-05-22 | Form 4 | 2026-07-02 | 0001628280-26-046716 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Robert E. Johnson III 2026-05-22 | Form 4 | 2026-07-02 | 0001628280-26-046716 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Jennifer R. Evans 2026-05-22 | Form 4 | 2026-05-29 | 0001628280-26-039007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Amy Wong Han 2026-05-22 | Form 4 | 2026-05-27 | 0001628280-26-038411 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Anthony Puntillo 2026-05-22 | Form 4 | 2026-05-27 | 0001628280-26-038384 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Robert W. Youman 2026-05-22 | Form 4 | 2026-05-27 | 0001628280-26-038386 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Joel Gorelick 2026-05-22 | Form 4 | 2026-05-27 | 0001628280-26-038380 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Martin P. Alwin 2026-05-22 | Form 4 | 2026-05-27 | 0001628280-26-038399 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Robert T. Lowry 2026-06-30 | Form 4 | 2026-07-01 | 0001628280-26-046441 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Benjamin J. Bochnowski 2026-06-30 | Form 4 | 2026-07-01 | 0001628280-26-046398 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Todd M. Scheub 2026-06-30 | Form 4 | 2026-07-01 | 0001628280-26-046413 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Amy Wong Han 2026-06-30 | Form 4 | 2026-07-01 | 0001628280-26-046416 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Anthony Puntillo 2026-06-30 | Form 4 | 2026-07-01 | 0001628280-26-046401 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 06, 2026 vote | Form 8-K | 2026-05-26 | 0001628280-26-038070 | Item 5.07 · say-on-pay result. As reported: 94.12% (votes for as printed: 2,720,043). Filing ↗ |
| 35 | Section 06, 2025 vote | Form 8-K | 2025-05-29 | 0001193125-25-130618 | Item 5.07 · say-on-pay result. As reported: 88.15% (votes for as printed: 2,520,818). Filing ↗ |
| 36 | Section 06, 2024 vote | Form 8-K | 2024-05-29 | 0001437749-24-018592 | Item 5.07 · say-on-pay result. As reported: 91.84% (votes for as printed: 2,532,835). Filing ↗ |
| 37 | Section 03b vehicle mix (computed) | 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 |
| 38 | Section 09b board cost (computed) | Computed | — | computed | Cash 358,667 + equity 119,910 + all other 0 = 478,577, summed across the director compensation table rows.machine: formula: Σ = 478,577 |
| 39 | Finward Bancorp (subject), Section 10b CEO total | DEF 14A | 2026-04-03 | 0001193125-26-142083 | CEO total compensation as printed in Finward Bancorp's own proxy. As printed: 480,686. Filing ↗machine: r3 · c19 · span 228740–228748 |