Velarion · Company Intelligence
Compensation Brief
Fiscal year 2024 · Filings through 2026-07-08

Richmond Mutual Bancorporation, Inc. (RMBI)

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.

$728,330
Garry Kleer total, FY2024
CEO pay percentile vs peers
CEO-to-median pay ratio
94.04%
Say-on-pay support, latest vote
Companies that benchmark against RMBI
3 companies name RMBI as a compensation peer

Each company listed discloses RMBI 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 RMBI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2024

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Garry Kleer$490,385$145,350$0$0$0$0$92,595$728,330
Chairman, President and Chief Executive Officer of the Company; Chairman and CEO of First Bank Richmond
Paul Witte242,30830,350000030,661303,319
President and Chief Operating Officer of First Bank Richmond
Dean Weinert235,46120,350000035,987291,798
President of Mutual Federal, a division of First Bank Richmond

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 officerFY2024 totalFY2023 totalFY2022 totalΔ FY20232024
Garry Kleer$728,330$768,531−40,201
Paul Witte303,319283,854+19,465
Dean Weinert291,798293,252−1,454

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

Every insider equity transaction reported on Form 4 after the 2024 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Bradley M. GloverSVP & CFO2025-07-15A22,947$0$0Derivative, Class A CommonForm 4 ↗
Paul WittePresident & COO2025-07-15A2,52000Derivative, Class A CommonForm 4 ↗
Bradley M. GloverSVP & CFO2025-07-15A24,17900CommonForm 4 ↗
Paul WittePresident & COO2025-07-15A7,94700CommonForm 4 ↗
William A. Daily Jr.Market President (West Ohio)2025-07-15A25,00000Derivative, Class A CommonForm 4 ↗
Garry D. KleerDirector2025-11-20A51,25300CommonForm 4 ↗
William A. Daily Jr.Market President (West Ohio)2026-01-28A284.57144,001CommonForm 4 ↗
William A. Daily Jr.Market President (West Ohio)2026-02-19A212.79143,000CommonForm 4 ↗
William A. Daily Jr.Market President (West Ohio)2026-02-19A347.22145,000CommonForm 4 ↗
E. Michael BlumDirector2026-06-01A1,5001421,533CommonForm 4 ↗
E. Michael BlumDirector2026-06-02D3,50000Derivative, Class A CommonForm 4 ↗
E. Michael BlumDirector2026-06-02A3,5001136,855CommonForm 4 ↗
Carroll Ann ValentinoChief Operations Officer2026-07-01A6,256CommonForm 4 ↗
James Dalton MooreDirector2026-07-01A6,800Common, indirectForm 4 ↗
James Dalton MooreDirector2026-07-01A4,039CommonForm 4 ↗
James Dalton MooreDirector2026-07-01A3,400CommonForm 4 ↗
Chad KozuchChief Risk Officer2026-07-01A61,251CommonForm 4 ↗
James Dalton MooreDirector2026-07-01A60,669CommonForm 4 ↗
Daniel J. LahrmanDirector2026-07-01A54,801CommonForm 4 ↗
Thomas D. CrawfordDirector2026-07-01A23,776CommonForm 4 ↗
Barbara A. CutilloDirector2026-07-01A2,380CommonForm 4 ↗
Christopher D. CookDirector2026-07-01A26,186CommonForm 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.

04

Outstanding equity awards at fiscal year-end 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Garry KleerOption43,28510.53
Dean WeinertOption13,52610.53
Garry KleerRSU17,314244,993
Dean WeinertRSU5,41076,552
Paul WitteOption13,52610.53
Paul WitteRSU5,41076,552
05

Incentive-plan design — the Compensation Discussion & Analysis

The purpose of our compensation programs is to attract and retain experienced, highly qualified executives critical to our long-term success and enhancement of stockholder value.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-276,161,703390,846164,69894.04%Passed
20252025-05-214,493,278604,845116,55988.14%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.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2794.04%a
20252025-05-2188.14%b

a. Approved under the standard stated in the filing — “Broker non-votes and abstentions will have no effect on determining whether the affirmative vote constitutes a majority of the votes cast at the annual meeting (or in the case of the Say-on-Pay Frequency Proposal, votes for "One Year," "Two Years," and "Three Years").”.

b. Approved under the standard stated in the filing — “Broker non-votes and abstentions will have no effect on determining whether the affirmative vote constitutes a majority of the votes cast at the annual meeting (or in the case of the Say-on-Pay Frequency Proposal, votes for "One Year," "Two Years," and "Three Years").”.

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.

08

Director compensation — fiscal year 2024

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Harold T. Hanley, IIIIndependent · Audit · Compensation · Corporate Governance and Nominating$46,450$0$0$0$2,954$49,404
Kathryn GirtenIndependent · Audit · Compensation · Corporate Governance and Nominating45,4500002,95448,404
M. Lynn WetzelIndependent · Compensation (Chair) · Corporate Governance and Nominating44,4000002,95447,354
E. Michael BlumIndependent · Lead Independent Director · Corporate Governance and Nominating (Chair)43,7000002,95446,654
Jeffrey A. JacksonIndependent · Audit (Chair) · Corporate Governance and Nominating42,7000002,95445,654
Garry D. KleerEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$12,000
Annual equity retainer
Per board meeting fee$1,000
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline
09b

Total cost of the board

ComponentFY2024
Cash retainers and fees$222,700
Equity awards (grant-date value)$0
All other compensation$14,770
Total cost of the board$237,470

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

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
1Richmond Mutual Bancorporation, Inc.2024Garry Kleer$490,385$0$0$0$728,330

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Richmond Mutual Bancorporation, Inc. in fiscal 2024?
The highest-paid executive at Richmond Mutual Bancorporation, Inc. in fiscal 2024 was Garry Kleer, who received total compensation of $728,330.
How does Richmond Mutual Bancorporation, Inc.'s chief executive pay compare to its disclosed peer group?
The CEO pay percentile of disclosed peers is not disclosed in this extract.
What is Richmond Mutual Bancorporation, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this extract.
How did shareholders vote on Richmond Mutual Bancorporation, Inc.'s executive compensation?
Shareholders voted 94.04% in support of Richmond Mutual Bancorporation, Inc.'s executive compensation.
How much does Richmond Mutual Bancorporation, Inc. spend in total on board compensation for fiscal 2024?
Richmond Mutual Bancorporation, Inc. spent $237,470 in total on board compensation for fiscal 2024.

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, Garry KleerDEF 14A2025-04-160001140361-25-014130Section “EXECUTIVE COMPENSATION”. As printed: 728,330. Filing ↗machine: t62 · r2 · c21 · span 228279–228286
2Section 01, Paul WitteDEF 14A2025-04-160001140361-25-014130Section “EXECUTIVE COMPENSATION”. As printed: 303,319. Filing ↗machine: t62 · r6 · c21 · span 244286–244293
3Section 01, Dean WeinertDEF 14A2025-04-160001140361-25-014130Section “EXECUTIVE COMPENSATION”. As printed: 291,798. Filing ↗machine: t62 · r4 · c21 · span 236250–236257
4Section 08, Harold T. Hanley, IIIDEF 14A2025-04-160001140361-25-014130Section “Director Compensation”. As printed: 49,404. Filing ↗machine: t53 · r3 · c15 · span 164404–164410
5Section 08, Kathryn GirtenDEF 14A2025-04-160001140361-25-014130Section “Director Compensation”. As printed: 48,404. Filing ↗machine: t53 · r5 · c15 · span 170415–170421
6Section 08, M. Lynn WetzelDEF 14A2025-04-160001140361-25-014130Section “Director Compensation”. As printed: 47,354. Filing ↗machine: t53 · r6 · c15 · span 173490–173496
7Section 08, E. Michael BlumDEF 14A2025-04-160001140361-25-014130Section “Director Compensation”. As printed: 46,654. Filing ↗machine: t53 · r2 · c15 · span 161617–161624
8Section 08, Jeffrey A. JacksonDEF 14A2025-04-160001140361-25-014130Section “Director Compensation”. As printed: 45,654. Filing ↗machine: t53 · r4 · c15 · span 167628–167634
9Section 08, Garry D. KleerDEF 14A2025-04-160001140361-25-014130Section “Director Compensation”. As printed: 0. Filing ↗
10Section 02, Bradley M. Glover 2025-07-15Form 42025-07-170001628280-25-035227Insider equity transaction reported since the proxy statement. Filing ↗
11Section 02, Paul Witte 2025-07-15Form 42025-07-170001628280-25-035230Insider equity transaction reported since the proxy statement. Filing ↗
12Section 02, Bradley M. Glover 2025-07-15Form 42025-07-170001628280-25-035227Insider equity transaction reported since the proxy statement. Filing ↗
13Section 02, Paul Witte 2025-07-15Form 42025-07-170001628280-25-035230Insider equity transaction reported since the proxy statement. Filing ↗
14Section 02, William A. Daily Jr. 2025-07-15Form 42025-07-170001628280-25-035232Insider equity transaction reported since the proxy statement. Filing ↗
15Section 02, Garry D. Kleer 2025-11-20Form 42025-11-210001774479-25-000004Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, William A. Daily Jr. 2026-01-28Form 42026-01-300001628280-26-004364Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, William A. Daily Jr. 2026-02-19Form 42026-02-200001628280-26-010056Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, William A. Daily Jr. 2026-02-19Form 42026-02-190001628280-26-009683Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, E. Michael Blum 2026-06-01Form 42026-06-010001628280-26-039534Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, E. Michael Blum 2026-06-02Form 42026-06-040001628280-26-040697Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, E. Michael Blum 2026-06-02Form 42026-06-040001628280-26-040697Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Carroll Ann Valentino 2026-07-01Form 42026-07-060001628280-26-047146Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, James Dalton Moore 2026-07-01Form 42026-07-080001628280-26-047605Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, James Dalton Moore 2026-07-01Form 42026-07-080001628280-26-047605Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, James Dalton Moore 2026-07-01Form 42026-07-080001628280-26-047605Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Chad Kozuch 2026-07-01Form 42026-07-060001628280-26-047152Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, James Dalton Moore 2026-07-01Form 42026-07-080001628280-26-047605Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Daniel J. Lahrman 2026-07-01Form 42026-07-060001628280-26-047154Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Thomas D. Crawford 2026-07-01Form 42026-07-060001628280-26-047157Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Barbara A. Cutillo 2026-07-01Form 42026-07-060001628280-26-047303Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Christopher D. Cook 2026-07-01Form 42026-07-070001628280-26-047500Insider equity transaction reported since the proxy statement. Filing ↗
32Section 06, 2026 voteForm 8-K2026-05-270001628280-26-038518Item 5.07 · say-on-pay result. As reported: 94.04% (votes for as printed: 6,161,703). Filing ↗
33Section 06, 2025 voteForm 8-K2025-05-210001628280-25-027111Item 5.07 · say-on-pay result. As reported: 88.14% (votes for as printed: 4,493,278). Filing ↗
34Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
35Section 09b board cost (computed)ComputedcomputedCash 222,700 + equity 0 + all other 14,770 = 237,470, summed across the director compensation table rows.machine: formula: Σ = 237,470
36Richmond Mutual Bancorporation, Inc. (subject), 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: t62 · r2 · c21 · span 228279–228286