Fiscal year 2024 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.
Each company listed discloses MBCN 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 MBCN in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Ronald Zimmerly | $475,000 | $0 | $513,292 | $0 | $192,913 | $0 | $82,233 | $1,263,438 |
| President & CEO | ||||||||
| Michael Ranttila | 300,000 | 0 | 258,024 | 0 | 91,380 | 0 | 33,472 | 682,876 |
| CFO, Treasurer and Executive Vice President | ||||||||
| Michael Cheravitch | 230,000 | 25,000 | 146,206 | 0 | 70,057 | 0 | 8,839 | 480,102 |
| EVP, 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.
| Named executive officer | FY2024 total | FY2023 total | FY2022 total | Δ FY2023→2024 |
|---|---|---|---|---|
| Ronald Zimmerly | $1,263,438 | — | — | — |
| Michael Ranttila | 682,876 | — | — | — |
| Michael Cheravitch | 480,102 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Michael Cheravitch | RSU | 2024-08-06 | — | — | 2,561 | — | $60,337 |
| Michael Ranttila | RSU | 2024-08-06 | — | — | 4,520 | — | 106,491 |
| Ronald Zimmerly | RSU | 2024-08-06 | — | — | 6,780 | — | 159,737 |
| Michael Cheravitch | PSU | 2024-08-06 | 1,921 | 3,842 | — | 7,203 | 85,869 |
| Michael Ranttila | PSU | 2024-08-06 | 3,390 | 6,780 | — | 12,712 | 151,533 |
| Ronald Zimmerly | PSU | 2024-08-06 | 7,909 | 15,819 | — | 29,661 | 353,555 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Michael Cheravitch | $60,337 | $85,869 | $0 | 58.7% |
| Michael Ranttila | 106,491 | 151,533 | 0 | 58.7% |
| Ronald Zimmerly | 159,737 | 353,555 | 0 | 68.9% |
% 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 |
|---|---|---|---|---|
| Michael Cheravitch | PSU | 2,300 | — | $64,515 |
| Michael Ranttila | PSU | 4,520 | — | 126,786 |
| Michael Ranttila | PSU | 2,846 | — | 79,830 |
| Ronald Zimmerly | PSU | 15,819 | — | 443,723 |
| Michael Cheravitch | PSU | 2,561 | — | 71,836 |
| Ronald Zimmerly | PSU | 6,780 | — | 190,179 |
| Michael Cheravitch | PSU | 3,842 | — | 107,768 |
| Ronald Zimmerly | PSU | 3,722 | — | 104,402 |
| Michael Ranttila | PSU | 6,780 | — | 190,179 |
| Michael Ranttila | PSU | 2,016 | — | 56,549 |
| Ronald Zimmerly | PSU | 3,788 | — | 106,253 |
In general, Middlefield attempts to target total compensation for named executive officers at market competitive levels of peer financial companies.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| William J. SkidmoreIndependent · Board Chair · Corporate Governance and Nominating · Executive (Chair) | $44,250 | $15,600 | $0 | $0 | $0 | $59,850 |
| Michael C. VoinovichIndependent · Compensation (Chair) · Corporate Governance and Nominating · Executive | 33,750 | 15,600 | 0 | 0 | 0 | 49,350 |
| Carolyn J. TurkIndependent · Audit (Chair) · Corporate Governance and Nominating | 31,875 | 15,600 | 0 | 0 | 0 | 47,475 |
| Kenneth E. JonesIndependent · Audit · Compensation | 29,625 | 15,600 | 0 | 0 | 900 | 46,125 |
| Thomas W. BevanIndependent · Compensation · Corporate Governance and Nominating (Chair) | 29,250 | 15,600 | 0 | 0 | 0 | 44,850 |
| Darryl E. MastIndependent · Audit · Not standing for re-election | 26,750 | 15,600 | 0 | 0 | 0 | 42,350 |
| James J. McCaskeyIndependent · Executive | 26,500 | 15,600 | 0 | 0 | 0 | 42,100 |
| Jennifer L. MoellerIndependent · Compensation | 26,250 | 15,600 | 0 | 0 | 0 | 41,850 |
| Kevin A. DiGeronimoIndependent · Audit | 22,250 | 15,600 | 0 | 0 | 0 | 37,850 |
| Spencer T. CohnIndependent · Compensation · Executive | 13,500 | 0 | 0 | 0 | 0 | 13,500 |
| Mark R. WatkinsIndependent · Audit · Corporate Governance and Nominating | 9,000 | 0 | 0 | 0 | 0 | 9,000 |
| Ronald L. Zimmerly, JrEmployee director · Executive | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $9,000 |
|---|---|
| Annual equity retainer | $15,600 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 |
| Stock ownership guideline | 4x annual base director compensation (within 4 years of election) |
| Component | FY2024 |
|---|---|
| Cash retainers and fees | $293,000 |
| Equity awards (grant-date value) | $140,400 |
| All other compensation | $900 |
| Total cost of the board | $434,300 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Middlefield Banc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Middlefield Banc.
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 | Primis Financial Corp. | 2025 | Dennis Zember, Jr. | $748,590 | $912,600 | $0 | $435,578 | $2,185,079 |
| 2 | Meridian Corporation | 2025 | Christopher Annas | 622,000 | 264,000 | 0 | 0 | 1,677,997 |
| 3 | Farmers National Banc Corp. | 2025 | Kevin Helmick | 686,850 | 331,913 | 0 | 536,250 | 1,644,243 |
| 4 | CF Bankshares Inc. | 2025 | Timothy O'Dell | 517,500 | 387,450 | 0 | 456,502 | 1,392,313 |
| 5 | Capital Bancorp, Inc. | 2025 | Edward Barry | 726,250 | 264,355 | 72,625 | 0 | 1,350,010 |
| 6 | HBT Financial, Inc. | 2025 | J. Lance Carter | 570,686 | 278,600 | 0 | 427,815 | 1,294,800 |
| 7 | Middlefield Banc | 2024 | Ronald Zimmerly | 475,000 | 513,292 | 0 | 192,913 | 1,263,438 |
| 8 | Enterprise Bancorp, Inc. | 2024 | Steven Larochelle | 484,799 | 305,004 | 0 | 267,488 | 1,100,366 |
| 9 | Peoples Financial Services Corp. | 2025 | Gerard Champi | 557,000 | 162,400 | 0 | 204,020 | 1,068,323 |
| 10 | SB Financial Group, Inc. | 2025 | Mark Klein | 505,819 | 162,685 | 0 | 274,157 | 1,040,425 |
| 11 | Farmers & Merchants Bancorp, Inc. | 2025 | Lars Eller | 519,841 | 109,148 | 0 | 283,573 | 969,335 |
| 12 | LCNB Corp. | 2025 | Eric Meilstrup | 500,000 | 84,607 | 0 | 68,750 | 892,855 |
| 13 | Franklin Financial Services Corporation | 2025 | Craig Best | 523,198 | 44,610 | 0 | 207,971 | 788,859 |
| 14 | First Savings Financial Group, Inc. | 2024 | Larry Myers | 458,597 | 60,023 | 44,102 | 0 | 777,964 |
| 15 | BCB Bancorp, Inc. | 2025 | Michael Shriner | 675,000 | 0 | 50,625 | 0 | 772,063 |
| 16 | BankFinancial Corporation | 2024 | F. Morgan Gasior | 504,422 | 0 | 0 | 40,367 | 608,919 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Middlefield Banc | not disclosed | not disclosed | Yes — total shareholder return (TSR) percentile rank | Meridian Compensation Partners, LLC |
| BankFinancial Corporation | not disclosed | not disclosed | not disclosed | Cook & Co. |
| BCB Bancorp, Inc. | not disclosed | Options 100 | not disclosed | Meridian Compensation Partners |
| Capital Bancorp, Inc. | not disclosed | not disclosed | not disclosed | ChaseCompGroup, LLC |
| CF Bankshares Inc. | not disclosed | RSU 100 | not disclosed | Bank Compensation Consulting (BCC) |
| Enterprise Bancorp, Inc. | 55.18% | RSU 100 | No | Pearl Meyer and Partners |
| Farmers & Merchants Bancorp, Inc. | not disclosed | Stock Awards 100 | not disclosed | not disclosed |
| Farmers National Banc Corp. | 150% | PSU 50 · RSU 25 · Cash LTI 25 | No | Aon |
| First Savings Financial Group, Inc. | not disclosed | not disclosed | not disclosed | ChaseCompGroup |
| Franklin Financial Services Corporation | not disclosed | RSU 100 | No | Blanchard Consulting Group |
| HBT Financial, Inc. | 149% | RSU 50 · PSU 50 | No | McLagan Partners Inc. |
| LCNB Corp. | 14% | RSU 100 | not disclosed | BCG |
| Meridian Corporation | 130% | RSU 100 | not disclosed | not disclosed |
| Peoples Financial Services Corp. | 104% | PSU 50 · RSU 50 | No | Pearl Meyer & Partners, LLC |
| Primis Financial Corp. | 116% | PSU 70 · RSU 30 | No | the Consultant |
| SB Financial Group, Inc. | not disclosed | RSU 100 | not disclosed | Blanchard Consulting Group (BCG) |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
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, Ronald Zimmerly | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “SUMMARY COMPENSATION TABLE”. As printed: 1,263,438. Filing ↗machine: r1 · c7 · span 147774–147783 |
| 2 | Section 01, Michael Ranttila | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “SUMMARY COMPENSATION TABLE”. As printed: 682,876. Filing ↗machine: r4 · c7 · span 151246–151253 |
| 3 | Section 01, Michael Cheravitch | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “SUMMARY COMPENSATION TABLE”. As printed: 480,102. Filing ↗machine: r7 · c7 · span 154689–154696 |
| 4 | Section 03, Michael Cheravitch RSU | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r7 · c7 · span 177983–177989 |
| 5 | Section 03, Michael Ranttila RSU | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r5 · c7 · span 175477–175484 |
| 6 | Section 03, Ronald Zimmerly RSU | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r3 · c7 · span 172971–172978 |
| 7 | Section 03, Michael Cheravitch PSU | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r6 · c7 · span 176706–176712 |
| 8 | Section 03, Michael Ranttila PSU | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r4 · c7 · span 174199–174206 |
| 9 | Section 03, Ronald Zimmerly PSU | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r2 · c7 · span 171693–171700 |
| 10 | Section 08, William J. Skidmore | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 59,850. Filing ↗machine: t32 · r8 · c7 · span 100290–100296 |
| 11 | Section 08, Michael C. Voinovich | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 49,350. Filing ↗machine: t32 · r10 · c7 · span 102727–102733 |
| 12 | Section 08, Carolyn J. Turk | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 47,475. Filing ↗machine: t32 · r9 · c7 · span 101523–101529 |
| 13 | Section 08, Kenneth E. Jones | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 46,125. Filing ↗machine: t32 · r4 · c7 · span 95417–95423 |
| 14 | Section 08, Thomas W. Bevan | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 44,850. Filing ↗machine: t32 · r1 · c7 · span 91762–91768 |
| 15 | Section 08, Darryl E. Mast | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 42,350. Filing ↗machine: t32 · r5 · c7 · span 96649–96655 |
| 16 | Section 08, James J. McCaskey | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 42,100. Filing ↗machine: t32 · r6 · c7 · span 97850–97856 |
| 17 | Section 08, Jennifer L. Moeller | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 41,850. Filing ↗machine: t32 · r7 · c7 · span 99087–99093 |
| 18 | Section 08, Kevin A. DiGeronimo | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 37,850. Filing ↗machine: t32 · r3 · c7 · span 94208–94214 |
| 19 | Section 08, Spencer T. Cohn | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 13,500. Filing ↗machine: t32 · r2 · c1 · span 92106–92112 |
| 20 | Section 08, Mark R. Watkins | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 9,000. Filing ↗machine: t32 · r11 · c1 · span 103090–103095 |
| 21 | Section 08, Ronald L. Zimmerly, Jr | DEF 14A | 2025-04-04 | 0001174947-25-000521 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 22 | 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 |
| 23 | Section 09b board cost (computed) | Computed | — | computed | Cash 293,000 + equity 140,400 + all other 900 = 434,300, summed across the director compensation table rows.machine: formula: Σ = 434,300 |
| 24 | Primis Financial Corp., Section 10b CEO total | DEF 14A | 2026-04-10 | 0001104659-26-041860 | CEO total compensation as printed in Primis Financial Corp.'s own proxy. As printed: 2,185,079. Filing ↗machine: t76 · r8 · c23 · span 492432–492441 |
| 25 | Meridian Corporation, Section 10b CEO total | DEF 14A | 2026-04-06 | 0001750735-26-000027 | CEO total compensation as printed in Meridian Corporation's own proxy. As printed: 1,677,997. Filing ↗machine: t18 · r2 · c16 · span 375734–375743 |
| 26 | Farmers National Banc Corp., Section 10b CEO total | DEF 14A | 2026-03-16 | 0001437749-26-008310 | CEO total compensation as printed in Farmers National Banc Corp.'s own proxy. As printed: 1,644,243. Filing ↗machine: r2 · c28 · span 608756–608765 |
| 27 | CF Bankshares Inc., Section 10b CEO total | DEF 14A | 2026-04-23 | 0001193125-26-172294 | CEO total compensation as printed in CF Bankshares Inc.'s own proxy. As printed: 1,392,313. Filing ↗machine: t10 · r3 · c20 · span 325946–325955 |
| 28 | Capital Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-04-07 | 0001419536-26-000091 | CEO total compensation as printed in Capital Bancorp, Inc.'s own proxy. As printed: 1,350,010. Filing ↗machine: t14 · r4 · c14 · span 427121–427130 |
| 29 | HBT Financial, Inc., Section 10b CEO total | DEF 14A | 2026-04-08 | 0000775215-26-000037 | CEO total compensation as printed in HBT Financial, Inc.'s own proxy. As printed: 1,294,800. Filing ↗machine: span 498480–498489 |
| 30 | Middlefield Banc (subject), Section 10b CEO total | DEF 14A | 2025-04-04 | 0001174947-25-000521 | CEO total compensation as printed in Middlefield Banc's own proxy. As printed: 1,263,438. Filing ↗machine: r1 · c7 · span 147774–147783 |
| 31 | Enterprise Bancorp, Inc., Section 10b CEO total | DEF 14A | 2025-04-01 | 0001018399-25-000025 | CEO total compensation as printed in Enterprise Bancorp, Inc.'s own proxy. As printed: 1,100,366. Filing ↗machine: span 513496–513505 |
| 32 | Peoples Financial Services Corp., Section 10b CEO total | DEF 14A | 2026-04-10 | 0001104659-26-041794 | CEO total compensation as printed in Peoples Financial Services Corp.'s own proxy. As printed: 1,068,323. Filing ↗machine: t226 · r8 · c16 · span 1077916–1077925 |
| 33 | SB Financial Group, Inc., Section 10b CEO total | DEF 14A | 2026-03-06 | 0001213900-26-024511 | CEO total compensation as printed in SB Financial Group, Inc.'s own proxy. As printed: 1,040,425. Filing ↗machine: t67 · span 302297–302306 |
| 34 | Farmers & Merchants Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-03-24 | 0001140361-26-010915 | CEO total compensation as printed in Farmers & Merchants Bancorp, Inc.'s own proxy. As printed: 969,335. Filing ↗machine: r2 · c21 · span 457783–457790 |
| 35 | LCNB Corp., Section 10b CEO total | DEF 14A | 2026-03-12 | 0001437749-26-007964 | CEO total compensation as printed in LCNB Corp.'s own proxy. As printed: 892,855. Filing ↗machine: r1 · c27 · span 546385–546392 |
| 36 | Franklin Financial Services Corporation, Section 10b CEO total | DEF 14A | 2026-03-24 | 0000723646-26-000020 | CEO total compensation as printed in Franklin Financial Services Corporation's own proxy. As printed: 788,859. Filing ↗machine: t25 · r8 · c12 · span 1148338–1148345 |
| 37 | First Savings Financial Group, Inc., Section 10b CEO total | DEF 14A | 2025-01-08 | 0001104659-25-001979 | CEO total compensation as printed in First Savings Financial Group, Inc.'s own proxy. As printed: 777,964. Filing ↗machine: span 299826–299833 |
| 38 | BCB Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-03-24 | 0001174947-26-000413 | CEO total compensation as printed in BCB Bancorp, Inc.'s own proxy. As printed: 772,063. Filing ↗machine: t128 · r1 · c7 · span 422363–422370 |
| 39 | BankFinancial Corporation, Section 10b CEO total | DEF 14A | 2025-06-16 | 0001437749-25-020454 | CEO total compensation as printed in BankFinancial Corporation's own proxy. As printed: 608,919. Filing ↗machine: t39 · r1 · c21 · span 399499–399506 |
| 40 | Section 10a, HBT Financial, Inc. reciprocity | DEF 14A | — | 0000775215-26-000037 | HBT Financial, Inc.'s most recent proxy was read; its disclosed peer group does not include Middlefield Banc. Filing ↗ |
| 41 | Section 10a, Enterprise Bancorp, Inc. reciprocity | DEF 14A | — | 0001018399-25-000025 | Enterprise Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include Middlefield Banc. Filing ↗ |
| 42 | Section 10a, LCNB Corp. reciprocity | DEF 14A | — | 0001437749-26-007964 | LCNB Corp. names Middlefield Banc in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 43 | Section 10a, Farmers National Banc Corp. reciprocity | DEF 14A | — | 0001437749-26-008310 | Farmers National Banc Corp.'s most recent proxy was read; its disclosed peer group does not include Middlefield Banc. Filing ↗ |
| 44 | Section 10a, Peoples Financial Services Corp. reciprocity | DEF 14A | — | 0001104659-26-041794 | Peoples Financial Services Corp.'s most recent proxy was read; its disclosed peer group does not include Middlefield Banc. Filing ↗ |
| 45 | Section 10a, Primis Financial Corp. reciprocity | DEF 14A | — | 0001104659-26-041860 | Primis Financial Corp.'s most recent proxy was read; its disclosed peer group does not include Middlefield Banc. Filing ↗ |
| 46 | Section 10a, SB Financial Group, Inc. reciprocity | DEF 14A | — | 0001213900-26-024511 | SB Financial Group, Inc. names Middlefield Banc in its own disclosed peer group (read from its most recent proxy). Filing ↗ |