Fiscal year 2023 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 OPOF 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 OPOF 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 |
|---|---|---|---|---|---|---|---|---|
| Robert Shuford Jr. | $425,500 | $0 | $51,600 | $0 | $54,352 | $0 | $55,613 | $587,065 |
| Chairman of the Board, President & CEO | ||||||||
| Joseph Witt | 356,250 | 0 | 36,000 | 0 | 14,400 | 0 | 61,538 | 468,188 |
| Chief Strategy Officer | ||||||||
| Thomas Hotchkiss | 247,500 | 0 | 25,000 | 0 | 17,118 | 0 | 11,786 | 301,404 |
| Chief Credit 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 | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Robert Shuford Jr. | $587,065 | $605,693 | — | −18,628 |
| Joseph Witt | 468,188 | 519,628 | — | −51,440 |
| Thomas Hotchkiss | 301,404 | 335,602 | — | −34,198 |
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 | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Robert Shuford Jr. | PSU | 1,659 | — | $29,746 |
| Joseph Witt | PSU | 1,499 | — | 26,877 |
| Thomas Hotchkiss | PSU | 1,051 | — | 18,844 |
| Thomas Hotchkiss | PSU | 936 | — | 16,782 |
| Robert Shuford Jr. | PSU | 2,339 | — | 41,938 |
| Joseph Witt | PSU | 2,093 | — | 37,527 |
| Robert Shuford Jr. | PSU | 3,000 | — | 53,790 |
| Joseph Witt | PSU | 1,345 | — | 24,116 |
| Thomas Hotchkiss | PSU | 1,453 | — | 26,052 |
The Compensation and Benefits Committee (for purposes of this discussion, the Committee) of the Board of Directors has responsibility for establishing, implementing, and monitoring adherence with the Company's compensation philosophy. The Committee ensures that the total compensation paid to the Company's executive management is fair and reasonable. The Company compensates its senior management through a mix of base salary, bonus, and equity compensation, designed to motivate, attract, and retain executive talent, consistent with pay-for-performance principles, and to align management's incentives with the long-term interests of stockholders, while limiting risk appropriately and maintaining the safety and soundness of the organization.
| CEO STI target (% of salary) | 15% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pearl Meyer & Partners |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2024 | 2024-05-28 | 3,141,734 | 463,792 | 35,230 | 87.14% | Passed |
| 2023 | 2023-05-23 | 3,271,300 | 403,830 | 51,393 | 89.01% | Passed |
| 2022 | 2022-05-24 | 2,955,245 | 535,471 | 20,968 | 84.66% | Passed |
| 2021 | 2021-05-25 | 2,855,428 | 574,395 | 41,086 | 83.25% | Passed |
| 2020 | 2020-05-26 | 3,303,272 | 66,180 | 57,082 | 98.04% | Passed |
| 2019 | 2019-05-28 | 3,172,142 | 521,330 | 121,107 | 85.89% | 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 |
|---|---|---|
| 2024 | 2024-05-28 | 87.14%a |
| 2023 | 2023-05-23 | 89.01%b |
| 2022 | 2022-05-24 | 84.66%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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| John Cabot IshonNot independent · Board Risk Committee · Capital Management Committee · Directors Loan Committee (Chair) | $50,550 | $17,028 | $0 | — | $514 | $68,092 |
| Elizabeth S. WashIndependent · Compensation and Benefits · Capital Management Committee · Directors Loan Committee · Executive | 50,300 | 17,028 | 0 | — | 514 | 67,842 |
| Stephen C. AdamsIndependent · Lead Independent Director · Audit · Executive · Capital Management Committee (Chair) · Nominating and Corporate Governance (Chair) | 46,950 | 17,028 | 0 | — | 514 | 64,492 |
| Ellen Clark ThackerIndependent · Audit (Chair) · Executive · Compensation and Benefits · Nominating and Corporate Governance | 42,800 | 17,028 | 0 | — | 514 | 60,342 |
| Tom B. LangleyIndependent · Capital Management Committee · Directors Loan Committee · Nominating and Corporate Governance · Board Risk Committee (Chair) | 41,050 | 17,028 | 0 | — | 514 | 58,592 |
| Robert F. Shuford SrNot independent · Executive | 37,450 | 17,028 | 0 | — | 514 | 54,992 |
| Dr. Arthur D. GreeneIndependent · Not standing for re-election · Departed during FY | 37,200 | 17,028 | 0 | — | 514 | 54,742 |
| William F. KeefeIndependent · Audit · Board Risk Committee · Compensation and Benefits (Chair) | 36,600 | 17,028 | 0 | — | 514 | 54,142 |
| Michael A. GlasserIndependent · Compensation and Benefits · Board Risk Committee · Capital Management Committee · Executive | 33,200 | 17,028 | 0 | — | 514 | 50,742 |
| Sarah B. CastleberryIndependent · Audit · Compensation and Benefits · Board Risk Committee | 31,700 | 17,028 | 0 | — | 514 | 49,242 |
| Russell Smith Evans JrIndependent · Not standing for re-election · Departed during FY | 11,350 | 0 | 0 | — | 98 | 11,448 |
| Joseph R. WittEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Robert F. Shuford JrEmployee director · Board Chair · Executive (Chair) · Capital Management Committee | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $12,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $1,000 |
| Committee chair fees (audit / comp / nom-gov) | 5,000 / 5,000 / 5,000 |
| Stock ownership guideline | — |
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $419,150 |
| Equity awards (grant-date value) | $170,280 |
| All other compensation | $5,238 |
| Total cost of the board | $594,668 |
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 Old Point Financial 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 Old Point Financial.
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 | Blue Ridge Bankshares, Inc. | 2025 | G. William Beale | $721,912 | $3,398,400 | $0 | $286,137 | $4,425,449 |
| 2 | FVCBankcorp, Inc. | 2025 | David Pijor | 877,500 | 208,800 | 0 | 0 | 1,752,246 |
| 3 | John Marshall Bancorp, Inc. | 2025 | Christopher Bergstrom | 800,000 | 200,017 | 0 | 0 | 1,593,287 |
| 4 | C&F Financial Corporation | 2025 | Thomas Cherry | 600,000 | 296,804 | 0 | 305,000 | 1,471,984 |
| 5 | MainStreet Bancshares, Inc. | 2025 | Jeff Dick | 710,000 | 532,500 | 0 | 0 | 1,267,127 |
| 6 | Eagle Financial Services, Inc. | 2025 | Brandon Lorey | 575,000 | 222,768 | 0 | 267,927 | 1,118,007 |
| 7 | First United Corporation | 2025 | Carissa Rodeheaver | 503,244 | 136,346 | 0 | 388,353 | 1,042,004 |
| 8 | Norwood Financial Corp. | 2025 | James Donnelly | 605,000 | 198,200 | 0 | 0 | 1,009,784 |
| 9 | First National Corporation | 2025 | Scott Harvard | 509,520 | 137,756 | 0 | 257,610 | 923,316 |
| 10 | Bank of the James Financial Group, Inc. | 2025 | Robert Chapman III | 400,555 | 0 | 0 | 0 | 873,895 |
| 11 | Franklin Financial Services Corporation | 2025 | Craig Best | 523,198 | 44,610 | 0 | 207,971 | 788,859 |
| 12 | F & M Bank Corp. | 2025 | Aubrey Wilkerson | 388,212 | 109,488 | 0 | 192,439 | 754,389 |
| 13 | CB Financial Services, Inc. | 2025 | John Montgomery | 473,879 | 73,947 | 0 | 145,605 | 753,865 |
| 14 | Peoples Bancorp of North Carolina, Inc. | 2025 | William D. Cable Sr. | 375,950 | 0 | 0 | 0 | 673,255 |
| 15 | AmeriServ Financial, Inc. | 2025 | Jeffrey Stopko | 419,184 | 0 | 0 | 0 | 626,931 |
| 16 | Old Point Financial | 2023 | Robert Shuford Jr. | 425,500 | 51,600 | 0 | 54,352 | 587,065 |
| 17 | National Bankshares, Inc. | 2025 | Lara Ramsey | 273,492 | 22,399 | 0 | 36,540 | 562,269 |
| — | The Community Financial Corporation | — | — | — | — | — | — | not in coverage universe |
| — | FNCB Bancorp, Inc. | — | — | — | — | — | — | not in coverage universe |
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 |
|---|---|---|---|---|
| Old Point Financial | not disclosed | RSU 100 | not disclosed | Pearl Meyer & Partners |
| AmeriServ Financial, Inc. | not disclosed | Options 100 | not disclosed | Pearl Meyer |
| Bank of the James Financial Group, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Blue Ridge Bankshares, Inc. | 74% | RSU 100 | No | Pearl Meyer & Partners, LLC |
| C&F Financial Corporation | 113% | RSU 100 | No | Meridian Compensation Partners |
| CB Financial Services, Inc. | not disclosed | RSU 100 | not disclosed | Meridian |
| Eagle Financial Services, Inc. | not disclosed | RSU 50 · PSU 50 | No | David Jones and Blanchard Consulting Group |
| F & M Bank Corp. | not disclosed | RSU 100 | not disclosed | Blanchard Consulting Group |
| First National Corporation | not disclosed | RSU 100 | not disclosed | Pearl Meyer |
| First United Corporation | not disclosed | PSU 67 · RSU 33 | No | Aon Human Capital Solutions |
| FNCB Bancorp, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Franklin Financial Services Corporation | not disclosed | RSU 100 | No | Blanchard Consulting Group |
| FVCBankcorp, Inc. | not disclosed | RSU 100 | not disclosed | Blanchard Consulting Group |
| John Marshall Bancorp, Inc. | not disclosed | RSU 100 | not disclosed | Pearl Meyer |
| MainStreet Bancshares, Inc. | not disclosed | RSU 100 | not disclosed | Independent compensation consultant (name not disclosed) |
| National Bankshares, Inc. | not disclosed | RSU 50 · Cash LTI 50 | No | Meridian Compensation Partners, LLC |
| Norwood Financial Corp. | 25% | RSU 100 | not disclosed | not disclosed |
| Peoples Bancorp of North Carolina, Inc. | not disclosed | RSU 100 | not disclosed | Pearl Meyer |
| The Community Financial Corporation | not disclosed | not disclosed | not disclosed | not 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.
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, Robert Shuford Jr. | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Summary Compensation Table”. As printed: 587,065. Filing ↗machine: r1 · c7 · span 373898–373905 |
| 2 | Section 01, Joseph Witt | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Summary Compensation Table”. As printed: 468,188. Filing ↗machine: t60 · r3 · c7 · span 377964–377971 |
| 3 | Section 01, Thomas Hotchkiss | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Summary Compensation Table” · page 3. As printed: 301,404. Filing ↗machine: t60 · r5 · c7 · span 382029–382036 |
| 4 | Section 08, John Cabot Ishon | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 68,092. Filing ↗machine: t45 · r6 · c12 · span 252354–252360 |
| 5 | Section 08, Elizabeth S. Wash | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 67,842. Filing ↗machine: t45 · r11 · c12 · span 269244–269250 |
| 6 | Section 08, Stephen C. Adams | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 64,492. Filing ↗machine: t45 · r1 · c12 · span 235494–235500 |
| 7 | Section 08, Ellen Clark Thacker | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 60,342. Filing ↗machine: t45 · r10 · c12 · span 265853–265859 |
| 8 | Section 08, Tom B. Langley | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 58,592. Filing ↗machine: t45 · r8 · c12 · span 259098–259104 |
| 9 | Section 08, Robert F. Shuford Sr | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 54,992. Filing ↗machine: t45 · r9 · c12 · span 262494–262500 |
| 10 | Section 08, Dr. Arthur D. Greene | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 54,742. Filing ↗machine: t45 · r5 · c12 · span 248998–249004 |
| 11 | Section 08, William F. Keefe | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 54,142. Filing ↗machine: t45 · r7 · c12 · span 255744–255750 |
| 12 | Section 08, Michael A. Glasser | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 50,742. Filing ↗machine: t45 · r4 · c12 · span 245604–245610 |
| 13 | Section 08, Sarah B. Castleberry | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 49,242. Filing ↗machine: t45 · r2 · c12 · span 238854–238860 |
| 14 | Section 08, Russell Smith Evans Jr | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 11,448. Filing ↗machine: t45 · r3 · c12 · span 242246–242252 |
| 15 | Section 08, Joseph R. Witt | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 08, Robert F. Shuford Jr | DEF 14A | 2024-04-17 | 0001140361-24-020305 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 06, 2024 vote | Form 8-K | 2024-05-31 | 0001140361-24-028296 | Item 5.07 · say-on-pay result. As reported: 87.14% (votes for as printed: 3,141,734). Filing ↗ |
| 18 | Section 06, 2023 vote | Form 8-K | 2023-05-25 | 0001140361-23-026564 | Item 5.07 · say-on-pay result. As reported: 89.01% (votes for as printed: 3,271,300). Filing ↗ |
| 19 | Section 06, 2022 vote | Form 8-K | 2022-05-26 | 0001140361-22-020778 | Item 5.07 · say-on-pay result. As reported: 84.66%. Filing ↗ |
| 20 | 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) |
| 21 | Section 09b board cost (computed) | Computed | — | computed | Cash 419,150 + equity 170,280 + all other 5,238 = 594,668, summed across the director compensation table rows.machine: formula: Σ = 594,668 |
| 22 | Blue Ridge Bankshares, Inc., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001193125-26-196703 | CEO total compensation as printed in Blue Ridge Bankshares, Inc.'s own proxy. As printed: 4,425,449. Filing ↗machine: r2 · c7 · span 411884–411895 |
| 23 | FVCBankcorp, Inc., Section 10b CEO total | DEF 14A | 2026-04-07 | 0001675644-26-000039 | CEO total compensation as printed in FVCBankcorp, Inc.'s own proxy. As printed: 1,752,246. Filing ↗machine: span 205994–206003 |
| 24 | John Marshall Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-04-29 | 0001104659-26-050977 | CEO 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 |
| 25 | C&F Financial Corporation, Section 10b CEO total | DEF 14A | 2026-03-11 | 0000913341-26-000015 | CEO total compensation as printed in C&F Financial Corporation's own proxy. As printed: 1,471,984. Filing ↗machine: t98 · r9 · c24 · span 962909–962918 |
| 26 | MainStreet Bancshares, Inc., Section 10b CEO total | DEF 14A | 2026-04-17 | 0001437749-26-012635 | CEO total compensation as printed in MainStreet Bancshares, Inc.'s own proxy. As printed: 1,267,127. Filing ↗machine: span 240347–240356 |
| 27 | Eagle Financial Services, Inc., Section 10b CEO total | DEF 14A | 2026-04-08 | 0000880641-26-000009 | CEO total compensation as printed in Eagle Financial Services, Inc.'s own proxy. As printed: 1,118,007. Filing ↗machine: t14 · r8 · c25 · span 489971–489980 |
| 28 | First United Corporation, Section 10b CEO total | DEF 14A | 2026-03-25 | 0001104659-26-034521 | CEO total compensation as printed in First United Corporation's own proxy. As printed: 1,042,004. Filing ↗machine: t64 · r5 · c14 · span 375614–375623 |
| 29 | Norwood Financial Corp., Section 10b CEO total | DEF 14A | 2026-03-25 | 0001193125-26-122940 | CEO total compensation as printed in Norwood Financial Corp.'s own proxy. As printed: 1,009,784. Filing ↗machine: t30 · r2 · c31 · span 174499–174508 |
| 30 | First National Corporation, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001437749-26-011018 | CEO total compensation as printed in First National Corporation's own proxy. As printed: 923,316. Filing ↗machine: span 180767–180774 |
| 31 | Bank of the James Financial Group, Inc., Section 10b CEO total | DEF 14A | 2026-04-06 | 0001275101-26-000013 | CEO total compensation as printed in Bank of the James Financial Group, Inc.'s own proxy. As printed: 873,895. Filing ↗machine: t13 · r4 · c6 · span 499559–499566 |
| 32 | 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 |
| 33 | F & M Bank Corp., Section 10b CEO total | DEF 14A | 2026-04-13 | 0001654954-26-003452 | CEO total compensation as printed in F & M Bank Corp.'s own proxy. As printed: 754,389. Filing ↗machine: r3 · c21 · span 164748–164755 |
| 34 | CB Financial Services, Inc., Section 10b CEO total | DEF 14A | 2026-04-09 | 0001605301-26-000012 | CEO total compensation as printed in CB Financial Services, Inc.'s own proxy. As printed: 753,865. Filing ↗machine: t5 · r2 · c20 · span 224501–224508 |
| 35 | Peoples Bancorp of North Carolina, Inc., Section 10b CEO total | DEF 14A | 2026-03-25 | 0001654954-26-002731 | CEO total compensation as printed in Peoples Bancorp of North Carolina, Inc.'s own proxy. As printed: 673,255. Filing ↗machine: r2 · c25 · span 231762–231769 |
| 36 | AmeriServ Financial, Inc., Section 10b CEO total | DEF 14A | 2026-06-08 | 0001140361-26-024337 | CEO total compensation as printed in AmeriServ Financial, Inc.'s own proxy. As printed: 626,931. Filing ↗machine: t71 · r2 · c27 · span 352026–352033 |
| 37 | Old Point Financial (subject), Section 10b CEO total | DEF 14A | 2024-04-17 | 0001140361-24-020305 | CEO total compensation as printed in Old Point Financial's own proxy. As printed: 587,065. Filing ↗machine: r1 · c7 · span 373898–373905 |
| 38 | National Bankshares, Inc., 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 ↗ |
| 39 | Section 10a, C&F Financial Corporation reciprocity | DEF 14A | — | 0000913341-26-000015 | C&F Financial Corporation's most recent proxy was read; its disclosed peer group does not include Old Point Financial. Filing ↗ |