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.
Each company listed discloses NKSH 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 NKSH 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 |
|---|---|---|---|---|---|---|---|---|
| F. Brad Denardo | $309,195 | $0 | $0 | $0 | $0 | $425,994 | $51,325 | $786,514 |
| Chairman; Retired President and Chief Executive Officer as of June 30, 2025 | ||||||||
| Lara Ramsey | 273,492 | 0 | 22,399 | 0 | 36,540 | 204,721 | 25,117 | 562,269 |
| President and Chief Executive Officer | ||||||||
| Paul Mylum | 248,500 | 0 | 26,542 | 0 | 34,220 | 171,355 | 22,317 | 502,934 |
| Executive Vice President / Chief Lending Officer | ||||||||
| David Skeens | 214,417 | 0 | 22,770 | 0 | 29,145 | 150,696 | 18,394 | 435,422 |
| Executive Vice President / Chief Risk Officer | ||||||||
| Lora Jones | 223,958 | 0 | 19,456 | 0 | 29,000 | 53,128 | 18,878 | 344,420 |
| Executive Vice President, Treasurer 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 | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| F. Brad Denardo | $786,514 | $1,038,281 | $942,129 | −251,767 |
| Lara Ramsey | 562,269 | 284,935 | 327,455 | +277,334 |
| Paul Mylum | 502,934 | 336,882 | 431,685 | +166,052 |
| David Skeens | 435,422 | 281,130 | 363,297 | +154,292 |
| Lora Jones | 344,420 | 230,203 | 207,370 | +114,217 |
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 |
|---|---|---|---|---|---|---|---|---|
| Lawrence J. Ball | Director | 2026-06-10 | A | 221 | $0 | $0 | Common | Form 4 ↗ |
| Glenn P. Reynolds | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| Mildred R. Johnson | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| Norman V. Fitzwater, III | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| John E. Dooley | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| James C. Thompson | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| Michael E. Dye | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| F. Brad Denardo | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| Alan J. Sweet | Director | 2026-06-10 | A | 221 | 0 | 0 | Common | Form 4 ↗ |
| Lutheria H. Smith | Director | 2026-06-10 | A | 221 | 0 | 0 | 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 |
|---|---|---|---|---|---|---|---|
| Lara Ramsey | RSU | 2026-02-11 | — | — | 967 | — | $36,524 |
| Lora Jones | RSU | 2026-02-11 | — | — | 767 | — | 28,970 |
| Paul Mylum | RSU | 2026-02-11 | — | — | 906 | — | 34,220 |
| David Skeens | RSU | 2026-02-11 | — | — | 771 | — | 29,121 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Lara Ramsey | $36,524 | $0 | $0 | 0.0% |
| Lora Jones | 28,970 | 0 | 0 | 0.0% |
| Paul Mylum | 34,220 | 0 | 0 | 0.0% |
| David Skeens | 29,121 | 0 | 0 | 0.0% |
% 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 |
|---|---|---|---|---|
| Paul Mylum | PSU | 619 | — | $20,755 |
| Lora Jones | RSU | 227 | — | 7,611 |
| David Skeens | PSU | 531 | — | 17,804 |
| Lara Ramsey | RSU | 261 | — | 8,751 |
| Lora Jones | PSU | 454 | — | 15,223 |
| David Skeens | RSU | 266 | — | 8,919 |
| Lara Ramsey | PSU | 523 | — | 17,536 |
| Paul Mylum | RSU | 310 | — | 10,394 |
Competitive Compensation. We offer compensation to our executive officers using various components to appropriately balance income security with at risk compensation. Compensation is positioned at a level that allows the Company to retain and recruit executive talent, is competitive with peer financial institutions and fits within the Company's conservative approach to managing overhead expenses. Pay-for-Performance. We provide compensation opportunities that fairly reward executive officers for their contributions to the Company's annual and long term business objectives. Promote Long Term Share Ownership. The National Bankshares, Inc. 2023 Stock Incentive Plan uses share ownership to support risk management efforts, balancing demands for short term results with long term consequences.
| CEO STI target (% of salary) | 30% |
|---|---|
| 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 | 2026-05-12 | 3,233,731 | 367,708 | 32,992 | 89.79% | Passed |
| 2025 | 2025-05-13 | 3,101,729 | 390,734 | 39,918 | 88.81% | Passed |
| 2024 | 2024-05-14 | 3,041,016 | 146,658 | 44,039 | 95.4% | Passed |
| 2023 | 2023-05-09 | 3,336,556 | 231,328 | 59,978 | 93.52% | Passed |
| 2022 | 2022-05-10 | 2,916,834 | 210,340 | 22,912 | 93.27% | Passed |
| 2021 | 2021-05-11 | 3,366,319 | 209,203 | 57,535 | 94.15% | 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 | 2026-05-12 | 89.79%a |
| 2025 | 2025-05-13 | 88.81%b |
| 2024 | 2024-05-14 | 95.4%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.
| Ratio (CEO : median employee) | 25 : 1 |
|---|---|
| CEO total compensation | $562,269 |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| F. Brad DenardoNot independent · Board Chair · Executive (Chair) | $22,400 | $7,000 | $0 | $0 | $30,000 | $59,400 |
| John E. DooleyIndependent · Audit · Compensation · Nominating · Executive | 43,200 | 14,000 | 0 | 0 | 0 | 57,200 |
| Lawrence J. BallIndependent · Audit (Chair) · Compensation · Executive | 42,400 | 14,000 | 0 | 0 | 0 | 56,400 |
| Alan J. SweetIndependent · Risk & Governance | 40,800 | 14,000 | 0 | 0 | 0 | 54,800 |
| Norman V. Fitzwater, IIIIndependent · Audit · Nominating · Risk & Governance | 40,800 | 14,000 | 0 | 0 | 0 | 54,800 |
| Mary G. MillerIndependent · Audit · Nominating (Chair) · Risk & Governance (Chair) | 40,800 | 14,000 | 0 | 0 | 0 | 54,800 |
| Lutheria H. SmithIndependent · Compensation | 40,000 | 14,000 | 0 | 0 | 0 | 54,000 |
| Mildred R. JohnsonIndependent · Compensation | 40,000 | 14,000 | 0 | 0 | 0 | 54,000 |
| Glenn P. ReynoldsIndependent · Risk & Governance | 40,000 | 14,000 | 0 | 0 | 0 | 54,000 |
| Michael E. DyeIndependent · Risk & Governance | 40,000 | 14,000 | 0 | 0 | 0 | 54,000 |
| Charles E. Green, IIIIndependent · Lead Independent Director · Audit · Compensation (Chair) · Executive · Not standing for re-election | 40,000 | 14,000 | 0 | 0 | 0 | 54,000 |
| James C. ThompsonIndependent | 39,600 | 14,000 | 0 | 0 | 0 | 53,600 |
| Lara E. RamseyEmployee director · Executive | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $16,000 |
|---|---|
| Annual equity retainer | $14,000 |
| Per board meeting fee | $2,000 |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | 4x annual retainer |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $470,000 |
| Equity awards (grant-date value) | $161,000 |
| All other compensation | $30,000 |
| Total cost of the board | $661,000 |
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 | National Bankshares Inc | 2025 | Lara Ramsey | $273,492 | $22,399 | $0 | $36,540 | $562,269 |
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, F. Brad Denardo | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Executive Compensation”. As printed: 786,514. Filing ↗ |
| 2 | Section 01, Lara Ramsey | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Executive Compensation”. As printed: 562,269. Filing ↗ |
| 3 | Section 01, Paul Mylum | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Executive Compensation”. As printed: 502,934. Filing ↗ |
| 4 | Section 01, David Skeens | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Executive Compensation”. As printed: 435,422. Filing ↗ |
| 5 | Section 01, Lora Jones | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Executive Compensation”. As printed: 344,420. Filing ↗ |
| 6 | Section 03, Lara Ramsey RSU | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 547545–547551 |
| 7 | Section 03, Lora Jones RSU | DEF 14A | — | 0001193125-26-133527 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 8 | Section 03, Paul Mylum RSU | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t16 · r12 · c5 · span 714285–714291 |
| 9 | Section 03, David Skeens RSU | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 547797–547803 |
| 10 | Section 07, pay ratio | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “CEO Pay Ratio”. As printed: 25 : 1. Filing ↗ |
| 11 | Section 08, F. Brad Denardo | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 59,400. Filing ↗machine: t8 · r3 · c16 · span 297038–297044 |
| 12 | Section 08, John E. Dooley | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 57,200. Filing ↗machine: t8 · r4 · c15 · span 303670–303676 |
| 13 | Section 08, Lawrence J. Ball | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 56,400. Filing ↗machine: t8 · r2 · c15 · span 289922–289928 |
| 14 | Section 08, Alan J. Sweet | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,800. Filing ↗machine: t8 · r13 · c15 · span 363390–363396 |
| 15 | Section 08, Norman V. Fitzwater, III | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,800. Filing ↗machine: t8 · r6 · c15 · span 316944–316950 |
| 16 | Section 08, Mary G. Miller | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,800. Filing ↗machine: t8 · r9 · c15 · span 336851–336857 |
| 17 | Section 08, Lutheria H. Smith | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,000. Filing ↗machine: t8 · r12 · c15 · span 356729–356735 |
| 18 | Section 08, Mildred R. Johnson | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,000. Filing ↗machine: t8 · r8 · c15 · span 330219–330225 |
| 19 | Section 08, Glenn P. Reynolds | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,000. Filing ↗machine: t8 · r11 · c15 · span 350094–350100 |
| 20 | Section 08, Michael E. Dye | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,000. Filing ↗machine: t8 · r5 · c15 · span 310302–310308 |
| 21 | Section 08, Charles E. Green, III | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 54,000. Filing ↗machine: t8 · r7 · c15 · span 323583–323589 |
| 22 | Section 08, James C. Thompson | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 53,600. Filing ↗machine: t8 · r14 · c15 · span 370025–370031 |
| 23 | Section 08, Lara E. Ramsey | DEF 14A | 2026-03-31 | 0001193125-26-133527 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t8 · r10 · c15 · span 343303–343304 |
| 24 | Section 02, Lawrence J. Ball 2026-06-10 | Form 4 | 2026-06-11 | 0001276854-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Glenn P. Reynolds 2026-06-10 | Form 4 | 2026-06-11 | 0001359275-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Mildred R. Johnson 2026-06-10 | Form 4 | 2026-06-11 | 0001706698-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Norman V. Fitzwater, III 2026-06-10 | Form 4 | 2026-06-11 | 0001706697-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, John E. Dooley 2026-06-10 | Form 4 | 2026-06-11 | 0001562363-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, James C. Thompson 2026-06-10 | Form 4 | 2026-06-11 | 0001707080-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Michael E. Dye 2026-06-10 | Form 4 | 2026-06-11 | 0001706694-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, F. Brad Denardo 2026-06-10 | Form 4 | 2026-06-11 | 0001239696-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Alan J. Sweet 2026-06-10 | Form 4 | 2026-06-11 | 0002026965-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Lutheria H. Smith 2026-06-10 | Form 4 | 2026-06-11 | 0002024245-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 06, 2026 vote | Form 8-K | 2026-05-13 | 0001193125-26-221753 | Item 5.07 · say-on-pay result. As reported: 89.79% (votes for as printed: 3,233,731). Filing ↗ |
| 35 | Section 06, 2025 vote | Form 8-K | 2025-05-15 | 0000950170-25-072743 | Item 5.07 · say-on-pay result. As reported: 88.81% (votes for as printed: 3,101,729). Filing ↗ |
| 36 | Section 06, 2024 vote | Form 8-K | 2024-05-16 | 0001437749-24-017302 | Item 5.07 · say-on-pay result. As reported: 95.4% (votes for as printed: 3,041,016). Filing ↗ |
| 37 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 38 | 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 |
| 39 | Section 09b board cost (computed) | Computed | — | computed | Cash 470,000 + equity 161,000 + all other 30,000 = 661,000, summed across the director compensation table rows.machine: formula: Σ = 661,000 |
| 40 | National Bankshares Inc (subject), Section 10b CEO total | DEF 14A | 2026-03-31 | 0001193125-26-133527 | CEO total compensation as printed in National Bankshares Inc's own proxy. As printed: 562,269. Filing ↗ |