Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-08

CIVISTA BANCSHARES, INC. (OH)

CEO Dennis Shaffer was paid $2,894,036 in fiscal year 2025, up 25.2% from fiscal year 2024, the 93rd percentile of its disclosed peer group (SEC filing 0001193125-26-145510 ↗): 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.

$2,894,036
Dennis Shaffer total, FY2025
93rd
CEO pay percentile vs peers
—
CEO-to-median pay ratio
—
Say-on-pay support, latest vote

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Companies that benchmark against OH
No companies currently name OH as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Dennis Shaffer$573,657$0$166,246$0$258,146$1,833,181$62,807$2,894,036
President and CEO
Charles Parcher375,5000108,8200168,975972,56250,5651,676,422
Executive Vice President
Richard Dutton315,775078,4380126,3101,010,76331,2751,562,561
Vice President
Lance Morrison237,404039,314078,343405,76225,654786,478
Vice President, Corporate Secretary and General Counsel
Ian Whinnem265,846057,511099,13145,50718,621486,617
Vice President, Treasurer and CFO

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
Dennis Shaffer$2,894,036$2,311,331$1,006,128+582,705
Charles Parcher1,676,422911,128579,882+765,294
Richard Dutton1,562,5611,087,225596,069+475,336
Lance Morrison786,478528,447370,493+258,031
Ian Whinnem486,617222,980—+263,637

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

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Dennis ShafferRestricted Stock2025-02-07——4,889—$104,918
Richard DuttonRestricted Stock2025-02-07——1,136—24,379
Richard DuttonRestricted Stock2025-02-07——2,307—49,508
Ian WhinnemRestricted Stock2025-02-07——1,254—26,911
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
Lance MorrisonRSU1,136—$25,242
Dennis ShafferRSU2,742—60,927
Dennis ShafferRSU4,889—108,634
Ian WhinnemRSU1,254—27,864
Dennis ShafferRSU2,842—63,149
Richard DuttonRSU2,307—51,262
Charles ParcherRSU2,307—51,262
Richard DuttonRSU1,330—29,553
Charles ParcherRSU1,330—29,553
Richard DuttonRSU1,276—28,353
Charles ParcherRSU1,276—28,353
Lance MorrisonRSU652—14,487
Lance MorrisonRSU639—14,199
05

Incentive-plan design — the Compensation Discussion & Analysis

The Corporation aims to attract, compensate, and retain key employees by paying base salaries at the 50th percentile of peer financial institutions and shifting emphasis from base salary to incentive-based compensation tied to corporate performance. A substantial portion of annual bonuses is paid in restricted common shares to align management interests with shareholders and encourage retention.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantBlanchard Consulting Group
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Mary Patricia OliverIndependent · Lead Independent Director · Audit Committee · Board Risk Committee · Compensation Committee · Nominating Committee (Chair)$41,750$20,016———$61,766
Julie A. MattlinIndependent · Audit Committee (Chair) · Board Risk Committee31,27520,016———51,291
Darci L. CongroveIndependent · Audit Committee · Board Risk Committee (Chair)29,55420,016———49,570
Mark J. MacioceIndependent · Audit Committee · Board Risk Committee · Compensation Committee25,70020,016———45,716
Dennis E. Murray JrIndependent25,47520,016———45,491
Nathan E. WeaksIndependent · Audit Committee · Board Risk Committee25,00020,016———45,016
Harry SingerIndependent · Nominating Committee · Compensation Committee (Chair) · Board Risk Committee24,15020,016———44,166
Lorina W. WiseIndependent · Nominating Committee · Compensation Committee22,65020,016———42,666
Gerald B. WurmIndependent · Audit Committee · Compensation Committee22,27520,016———42,291
Clyde A. Perfect JrIndependent · Nominating Committee · Board Risk Committee19,57520,016———39,591
Charles A. ParcherEmployee director—————0
Dennis G. ShafferEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$0
Annual equity retainer$20,000
Per board meeting fee$1,750
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline$7,500
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$267,404
Equity awards (grant-date value)$200,160
All other compensation$0
Total cost of the board$467,564

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.

10a

Peer reciprocity

Of the companies CIVISTA BANCSHARES, INC. 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 CIVISTA BANCSHARES, INC..

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
1Sterling Bancorp, Inc.2023Thomas O'Brien$2,014,423$2,000,003$0$0$4,064,239
2CIVISTA BANCSHARES, INC.2025Dennis Shaffer573,657166,2460258,1462,894,036
3First Financial Corporation2025Norman D. Lowery675,350523,5030486,2522,395,725
4German American Bancorp, Inc.2025D. Neil Dauby770,000517,4640602,5252,068,536
5City Holding Company2025Charles Hageboeck699,000404,8670796,8601,922,194
6Mercantile Bank Corporation2025Raymond Reitsma734,600471,2830462,7981,769,983
7Farmers National Banc Corp.2025Kevin Helmick686,850331,9130536,2501,644,243
8Penns Woods Bancorp, Inc.2023Richard Grafmyre1,003,80200312,5001,588,719
9Peoples Bancorp, Inc.2025Tyler Wilcox700,000259,1950416,8001,500,327
10HBT Financial, Inc.2025J. Lance Carter570,686278,6000427,8151,294,800
11Middlefield Banc Corp.2024Ronald Zimmerly475,000513,2920192,9131,263,438
12Citizens Financial Services, Inc.2025Randall Black675,00089,969001,212,643
13SB Financial Group, Inc.2025Mark Klein505,819162,6850274,1571,040,425
14Farmers & Merchants Bancorp, Inc.2025Lars Eller519,841109,1480283,573969,335
15LCNB Corp.2025Eric Meilstrup500,00084,607068,750892,855
16Richmond Mutual Bancorporation, Inc.2024Garry Kleer490,385000728,330

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
CIVISTA BANCSHARES, INC.not disclosedRestricted Stock 100not disclosedBlanchard Consulting Group
Citizens Financial Services, Inc.not disclosednot disclosednot disclosedBlanchard Consulting Group
City Holding Companynot disclosedPSU 60 · RSU 40Yes — Total Shareholder Return (TSR)McLagan
Farmers & Merchants Bancorp, Inc.not disclosedStock Awards 100not disclosednot disclosed
Farmers National Banc Corp.150%PSU 50 · RSU 25 · Cash LTI 25NoAon
First Financial Corporationnot disclosednot disclosedNoPearl Meyer
German American Bancorp, Inc.67%RSU 100NoBCG
HBT Financial, Inc.149%RSU 50 · PSU 50NoMcLagan Partners Inc.
LCNB Corp.14%Restricted Stock 100not disclosedBCG
Mercantile Bank Corporation105.6%PSU 65 · RSU 35NoAON
Middlefield Banc Corp.not disclosednot disclosedYes — total shareholder return (TSR) percentile rankMeridian Compensation Partners, LLC
Penns Woods Bancorp, Inc.100%Option 100not disclosednot disclosed
Peoples Bancorp, Inc.60%RSU 100NoPay Governance
Richmond Mutual Bancorporation, Inc.not disclosednot disclosednot disclosednot disclosed
SB Financial Group, Inc.not disclosedRSU 100not disclosedBlanchard Consulting Group (BCG)
Sterling Bancorp, Inc.not disclosedRSU 100not disclosednot disclosed

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at CIVISTA BANCSHARES, INC. in fiscal 2025?
Dennis Shaffer, President and CEO, was the highest-paid executive at CIVISTA BANCSHARES, INC. in fiscal 2025, with total compensation of $2,894,036 as disclosed.
How does CIVISTA BANCSHARES, INC.'s chief executive pay compare to its disclosed peer group?
The filing shows that the CEO's pay ranked at the 93rd percentile of the disclosed peer group.
What is CIVISTA BANCSHARES, INC.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this filing.
How did shareholders vote on CIVISTA BANCSHARES, INC.'s executive compensation?
The latest say-on-pay support vote is not disclosed in this filing.
How much does CIVISTA BANCSHARES, INC. spend in total on board compensation for fiscal 2025?
As disclosed, total board compensation for fiscal 2025 was $467,564.

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, Dennis ShafferDEF 14A2026-04-070001193125-26-145510Section “Summary Compensation Table”. As printed: 2,894,036. Filing ↗
2Section 01, Charles ParcherDEF 14A2026-04-070001193125-26-145510Section “Summary Compensation Table”. As printed: 1,676,422. Filing ↗
3Section 01, Richard DuttonDEF 14A2026-04-070001193125-26-145510Section “Summary Compensation Table”. As printed: 1,562,561. Filing ↗
4Section 01, Lance MorrisonDEF 14A2026-04-070001193125-26-145510Section “Summary Compensation Table”. As printed: 786,478. Filing ↗
5Section 01, Ian WhinnemDEF 14A2026-04-070001193125-26-145510Section “Summary Compensation Table”. As printed: 486,617. Filing ↗
6Section 03, Dennis Shaffer Restricted StockDEF 14A2026-04-070001193125-26-145510Section “Grants of Plan Based Awards” · grants of plan-based awards table. Filing ↗machine: span 564999–565007
7Section 03, Richard Dutton Restricted StockDEF 14A2026-04-070001193125-26-145510Section “Grants of Plan Based Awards” · grants of plan-based awards table. Filing ↗machine: span 566724–566731
8Section 03, Richard Dutton Restricted StockDEF 14A2026-04-070001193125-26-145510Section “Grants of Plan Based Awards” · grants of plan-based awards table. Filing ↗machine: span 565849–565856
9Section 03, Ian Whinnem Restricted StockDEF 14A2026-04-070001193125-26-145510Section “Grants of Plan Based Awards” · grants of plan-based awards table. Filing ↗machine: span 568442–568449
10Section 08, Mary Patricia OliverDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 61,766. Filing ↗machine: span 375826–375836
11Section 08, Julie A. MattlinDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 51,291. Filing ↗machine: span 372547–372557
12Section 08, Darci L. CongroveDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 49,570. Filing ↗machine: span 369390–369400
13Section 08, Mark J. MacioceDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 45,716. Filing ↗machine: span 370968–370978
14Section 08, Dennis E. Murray JrDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 45,491. Filing ↗machine: span 374187–374197
15Section 08, Nathan E. WeaksDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 45,016. Filing ↗machine: span 380563–380573
16Section 08, Harry SingerDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 44,166. Filing ↗machine: span 378985–378995
17Section 08, Lorina W. WiseDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 42,666. Filing ↗machine: span 382140–382150
18Section 08, Gerald B. WurmDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 42,291. Filing ↗machine: span 383717–383727
19Section 08, Clyde A. Perfect JrDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 39,591. Filing ↗machine: span 377410–377420
20Section 08, Charles A. ParcherDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 0. Filing ↗
21Section 08, Dennis G. ShafferDEF 14A2026-04-070001193125-26-145510Section “Director Compensation”. As printed: 0. Filing ↗
22Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
23Section 09b board cost (computed)Computed——Cash 267,404 + equity 200,160 + all other 0 = 467,564, summed across the director compensation table rows.machine: formula: Σ = 467,564
24Sterling Bancorp, Inc., Section 10b CEO totalDEF 14A2024-04-040001140361-24-017813CEO total compensation as printed in Sterling Bancorp, Inc.'s own proxy. As printed: 4,064,239. Filing ↗machine: r1 · c27 · span 422633–422642
25CIVISTA BANCSHARES, INC. (subject), Section 10b CEO totalDEF 14A2026-04-070001193125-26-145510CEO total compensation as printed in CIVISTA BANCSHARES, INC.'s own proxy. As printed: 2,894,036. Filing ↗
26First Financial Corporation, Section 10b CEO totalDEF 14A2026-03-170000714562-26-000017CEO total compensation as printed in First Financial Corporation's own proxy. As printed: 2,395,725. Filing ↗machine: r2 · c8 · span 818114–818123
27German American Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-180001104659-26-030015CEO total compensation as printed in German American Bancorp, Inc.'s own proxy. As printed: 2,068,536. Filing ↗machine: span 816342–816351
28City Holding Company, Section 10b CEO totalDEF 14A2026-03-270000726854-26-000092CEO total compensation as printed in City Holding Company's own proxy. As printed: 1,922,194. Filing ↗machine: r5 · c21 · span 511012–511021
29Mercantile Bank Corporation, Section 10b CEO totalDEF 14A2026-04-020001437749-26-010964CEO total compensation as printed in Mercantile Bank Corporation's own proxy. As printed: 1,769,983. Filing ↗machine: t42 · r1 · c20 · span 302151–302160
30Farmers National Banc Corp., Section 10b CEO totalDEF 14A2026-03-160001437749-26-008310CEO total compensation as printed in Farmers National Banc Corp.'s own proxy. As printed: 1,644,243. Filing ↗machine: r2 · c28 · span 608756–608765
31Penns Woods Bancorp, Inc., Section 10b CEO totalDEF 14A2024-03-260000716605-24-000004CEO total compensation as printed in Penns Woods Bancorp, Inc.'s own proxy. As printed: 1,588,719. Filing ↗machine: span 348169–348178
32Peoples Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-060000318300-26-000104CEO total compensation as printed in Peoples Bancorp, Inc.'s own proxy. As printed: 1,500,327. Filing ↗machine: t174 · r4 · c19 · span 1008838–1008848
33HBT Financial, Inc., Section 10b CEO totalDEF 14A2026-04-080000775215-26-000037CEO total compensation as printed in HBT Financial, Inc.'s own proxy. As printed: 1,294,800. Filing ↗machine: span 498480–498489
34Middlefield Banc Corp., Section 10b CEO totalDEF 14A2025-04-040001174947-25-000521CEO total compensation as printed in Middlefield Banc Corp.'s own proxy. As printed: 1,263,438. Filing ↗machine: r1 · c7 · span 147774–147783
35Citizens Financial Services, Inc., Section 10b CEO totalDEF 14A2026-03-120001140361-26-009104CEO total compensation as printed in Citizens Financial Services, Inc.'s own proxy. As printed: 1,212,643. Filing ↗
36SB Financial Group, Inc., Section 10b CEO totalDEF 14A2026-03-060001213900-26-024511CEO total compensation as printed in SB Financial Group, Inc.'s own proxy. As printed: 1,040,425. Filing ↗machine: t67 · span 302297–302306
37Farmers & Merchants Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-240001140361-26-010915CEO total compensation as printed in Farmers & Merchants Bancorp, Inc.'s own proxy. As printed: 969,335. Filing ↗machine: r2 · c21 · span 457783–457790
38LCNB Corp., Section 10b CEO totalDEF 14A2026-03-120001437749-26-007964CEO total compensation as printed in LCNB Corp.'s own proxy. As printed: 892,855. Filing ↗machine: r1 · c27 · span 546385–546392
39Richmond Mutual Bancorporation, Inc., Section 10b CEO totalDEF 14A2025-04-160001140361-25-014130CEO total compensation as printed in Richmond Mutual Bancorporation, Inc.'s own proxy. As printed: 728,330. Filing ↗machine: r2 · c21 · span 228279–228286
40Section 10a, Farmers & Merchants Bancorp, Inc. reciprocityDEF 14A—0001193125-25-044260Farmers & Merchants Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
41Section 10a, SB Financial Group, Inc. reciprocityDEF 14A—0001213900-26-024511SB Financial Group, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
42Section 10a, Citizens Financial Services, Inc. reciprocityDEF 14A—0001140361-26-009104Citizens Financial Services, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
43Section 10a, City Holding Company reciprocityDEF 14A—0000726854-26-000092City Holding Company's most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
44Section 10a, Penns Woods Bancorp, Inc. reciprocityDEF 14A—0000716605-24-000004Penns Woods Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
45Section 10a, HBT Financial, Inc. reciprocityDEF 14A—0000775215-26-000037HBT Financial, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
46Section 10a, Sterling Bancorp, Inc. reciprocityDEF 14A—0001140361-24-017813Sterling Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
47Section 10a, Mercantile Bank Corporation reciprocityDEF 14A—0001437749-26-010964Mercantile Bank Corporation's most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
48Section 10a, German American Bancorp, Inc. reciprocityDEF 14A—0001104659-26-030015German American Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
49Section 10a, LCNB Corp. reciprocityDEF 14A—0001437749-26-007964LCNB Corp.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
50Section 10a, First Financial Corporation reciprocityDEF 14A—0000714562-26-000017First Financial Corporation's most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
51Section 10a, Farmers National Banc Corp. reciprocityDEF 14A—0001437749-26-008310Farmers National Banc Corp.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
52Section 10a, Peoples Bancorp, Inc. reciprocityDEF 14A—0000318300-26-000104Peoples Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗
53Section 10a, Middlefield Banc Corp. reciprocityDEF 14A—0001174947-25-000521Middlefield Banc Corp.'s most recent proxy was read; its disclosed peer group does not include CIVISTA BANCSHARES, INC.. Filing ↗

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