Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-28

John Marshall Bancorp, Inc. (JMSB)

CEO Christopher Bergstrom was paid $1,593,287 in fiscal year 2025, ↑ up 14.9% from fiscal year 2024 (SEC filing 0001104659-26-050977 ↗): 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.

$1,593,287 ↑
Christopher Bergstrom total, FY2025
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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Say-on-pay support, latest vote

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JMSB's next annual pay disclosure, estimated April 29, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Christopher Bergstrom$800,000$550,000$200,017$0$0$0$43,270$1,593,287
President & Chief Executive Officer
Kent Carstater380,000235,00065,00200020,155700,157
Senior Executive Vice President – Chief Financial Officer
Andrew Peden375,000235,00050,01500036,381696,396
Senior Executive Vice President – Chief Banking 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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Christopher Bergstrom$1,593,287$1,386,701$1,410,062↑ +206,586
Kent Carstater700,157608,520591,452↑ +91,637
Andrew Peden696,396589,698582,527↑ +106,698

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

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$1,593,287 Christopher Bergstrom total, FY2025

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Data as of August 28, 2026 · Source: 0001104659-26-050977 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Jonathan C. KinneyChair of the Board$146,205
Lim P. NguonlyFormer director (through FY2025)$10,600
Michael A. GarciaIndependent Director$95,716
Michael T. FosterIndependent Director$81,616
O. Leland MahanIndependent Director$96,416
Philip R. ChaseIndependent Director$98,516
Philip W. AllinIndependent Director$83,416
Subhash K. GargIndependent Director$83,616
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
Jonathan C. KinneyDirector2026-06-03A1,208$21$25,404CommonForm 4 ↗
Jonathan C. KinneyDirector2026-06-03A1,0922122,965CommonForm 4 ↗
O. Leland MahanDirector2026-06-03A179213,764CommonForm 4 ↗
Christopher W. BergstromDirector2026-06-17A32,72000CommonForm 4 ↗
Christopher W. BergstromDirector2026-06-17D32,72000CommonForm 4 ↗
Jonathan C. KinneyDirector2026-08-26A1,2382328,375CommonForm 4 ↗
Philip R. ChaseDirector2026-08-26A133233,054CommonForm 4 ↗
Jonathan C. KinneyDirector2026-08-26A1,1192325,647CommonForm 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
Kent CarstaterRSA———3,088——
Andrew PedenRSU—————50,015
Kent CarstaterRSU—————65,002
Christopher BergstromRSA———9,502——
Andrew PedenRSA———2,376——
Christopher BergstromRSU—————200,017
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Kent Carstater$65,002$0$00.0%
Andrew Peden50,015000.0%
Christopher Bergstrom200,017000.0%

% 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
Christopher BergstromRSU2,300—$45,977
Andrew PedenRSU2,576—51,494
Kent CarstaterRSU1,269—25,367
Kent CarstaterRSU678—13,553
Andrew PedenRSU205—4,098
Kent CarstaterRSU3,088—61,729
Kent CarstaterRSU511—10,215
Andrew PedenRSU272—5,437
Kent CarstaterRSU2,760—55,172
Andrew PedenRSU582—11,634
Christopher BergstromRSU7,127—142,469
Andrew PedenRSU2,376—47,496
Andrew PedenRSU1,015—20,290
Kent CarstaterRSU726—14,513
05

Incentive-plan design — the Compensation Discussion & Analysis

The Committee believes that total compensation for executive officers (base salary, short-term and long-term compensation) should vary based on the Company's performance and return to shareholders, and should be generally consistent relative to performance against the Company's peers.

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
20262026-06-16—————
20252025-06-17—————
20242024-06-18—————
20232023-06-20—————
20222022-06-22—————

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
20262026-06-16—a
20252025-06-17—b
20242024-06-18—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.

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
Jonathan C. KinneyIndependent · Board Chair · Compensation$101,200$45,005———$146,205
Philip R. ChaseIndependent · Audit58,50040,0160—098,516
O. Leland MahanIndependent · Compensation · Nominating/Governance56,40040,0160—096,416
Michael A. GarciaIndependent · Compensation55,70040,0160—095,716
Subhash K. GargIndependent · Audit (Chair) · Nominating/Governance43,60040,0160—083,616
Philip W. AllinIndependent · Audit · Nominating/Governance (Chair)43,40040,0160—083,416
Michael T. FosterIndependent · Compensation (Chair) · Nominating/Governance41,60040,0160—081,616
Lim P. NguonlyIndependent · Not standing for re-election · Departed during FY10,600—0—010,600
Christopher W. BergstromEmployee director000—00
09

Board fee structure and ownership guideline

Annual cash retainer—
Annual equity retainer—
Per board meeting fee$3,300
Committee chair fees (audit / comp / nom-gov)300 / 300 / 300
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$411,000
Equity awards (grant-date value)$285,101
All other compensation$0
Total cost of the board$696,101

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.

Number of
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
1John Marshall Bancorp, Inc.2025Christopher Bergstrom$800,000$200,017$0$0$1,593,287

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.

10d

Frequently asked questions

Who was the highest-paid executive at John Marshall Bancorp, Inc. in fiscal 2025?
As disclosed, Christopher Bergstrom (President & Chief Executive Officer) was the highest-paid executive at John Marshall Bancorp, Inc. in fiscal 2025, with total compensation of $1,593,287.
How much does John Marshall Bancorp, Inc. spend in total on board compensation for fiscal 2025?
As disclosed, John Marshall Bancorp, Inc. reported total board compensation of $696,101 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, Christopher BergstromDEF 14A2026-04-290001104659-26-050977Section “Summary Compensation Table”. As printed: 1,593,287. Filing ↗machine: t26 · r5 · c23 · span 405120–405129
2Section 01, Kent CarstaterDEF 14A2026-04-290001104659-26-050977Section “Summary Compensation Table”. As printed: 700,157. Filing ↗machine: t26 · r8 · c23 · span 427142–427149
3Section 01, Andrew PedenDEF 14A2026-04-290001104659-26-050977Section “Summary Compensation Table”. As printed: 696,396. Filing ↗machine: t26 · r11 · c23 · span 449629–449636
4Section 03, Kent Carstater RSADEF 14A2026-04-290001104659-26-050977Section “EXECUTIVE OFFICER COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 471932–471937
5Section 03, Andrew Peden RSUDEF 14A2026-04-290001104659-26-050977Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t26 · r11 · c11 · span 445786–445792
6Section 03, Kent Carstater RSUDEF 14A2026-04-290001104659-26-050977Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t26 · r8 · c11 · span 423527–423533
7Section 03, Christopher Bergstrom RSADEF 14A2026-04-290001104659-26-050977Section “EXECUTIVE OFFICER COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 471748–471753
8Section 03, Andrew Peden RSADEF 14A2026-04-290001104659-26-050977Section “EXECUTIVE OFFICER COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 471949–471954
9Section 03, Christopher Bergstrom RSUDEF 14A2026-04-290001104659-26-050977Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t26 · r5 · c11 · span 401276–401283
10Section 07, pay ratio10-K2026-03-130001104659-26-027378Section “CEO Pay Ratio”. As printed: —. Filing ↗
11Section 08, Jonathan C. KinneyDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 146,205. Filing ↗machine: t22 · r4 · c12 · span 304841–305091
12Section 08, Philip R. ChaseDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 98,516. Filing ↗machine: t22 · r6 · c12 · span 313463–313712
13Section 08, O. Leland MahanDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 96,416. Filing ↗machine: t22 · r10 · c12 · span 330709–330958
14Section 08, Michael A. GarciaDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 95,716. Filing ↗machine: t22 · r8 · c12 · span 322088–322337
15Section 08, Subhash K. GargDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 83,616. Filing ↗machine: t22 · r9 · c12 · span 326522–326771
16Section 08, Philip W. AllinDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 83,416. Filing ↗machine: t22 · r5 · c12 · span 309276–309525
17Section 08, Michael T. FosterDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 81,616. Filing ↗machine: t22 · r7 · c12 · span 317899–318148
18Section 08, Lim P. NguonlyDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 10,600. Filing ↗machine: t22 · r11 · c2 · span 331852–332101
19Section 08, Christopher W. BergstromDEF 14A2026-04-290001104659-26-050977Section “Director Compensation”. As printed: 0. Filing ↗
20Section 02, Jonathan C. Kinney 2026-06-03Form 42026-06-050001318894-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Jonathan C. Kinney 2026-06-03Form 42026-06-050001318894-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, O. Leland Mahan 2026-06-03Form 42026-06-050001898828-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Christopher W. Bergstrom 2026-06-17Form 42026-06-260001277589-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Christopher W. Bergstrom 2026-06-17Form 42026-06-260001277589-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Jonathan C. Kinney 2026-08-26Form 42026-08-280001318894-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Philip R. Chase 2026-08-26Form 42026-08-280001898808-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Jonathan C. Kinney 2026-08-26Form 42026-08-280001318894-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
28Section 06, 2026 voteForm 8-K2026-06-160001104659-26-074581Item 5.07 · say-on-pay result. As reported: —. Filing ↗
29Section 06, 2025 voteForm 8-K2025-06-170001558370-25-008684Item 5.07 · say-on-pay result. As reported: —. Filing ↗
30Section 06, 2024 voteForm 8-K2024-06-210001558370-24-009403Item 5.07 · say-on-pay result. As reported: —. Filing ↗
31Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
32Section 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
33Section 09b board cost (computed)Computed——Cash 411,000 + equity 285,101 + all other 0 = 696,101, summed across the director compensation table rows.machine: formula: Σ = 696,101
34John Marshall Bancorp, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-290001104659-26-050977CEO total compensation as printed in John Marshall Bancorp, Inc.'s own proxy. As printed: 1,593,287. Filing ↗machine: t26 · r5 · c23 · span 405120–405129

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