CEO B. Nicole Sherman was paid $527,653 in fiscal year 2026, ↓ down 64.4% from fiscal year 2025 (SEC filing 0001041368-26-000012 ↗): 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.
$527,653 ↓ B. Nicole Sherman total, FY2026 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 63.94% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| B. Nicole Sherman | $430,461 | $0 | $42,498 | $0 | $0 | $0 | $54,694 | $527,653 |
| President and Chief Executive Officer | ||||||||
| C. Evan Sowers | 354,497 | 0 | 34,999 | 0 | 44,864 | 0 | 22,735 | 457,095 |
| President and Chief Executive Officer of Riverview Trust Company | ||||||||
| Daniel Cox | 339,304 | 0 | 33,501 | 0 | 0 | 0 | 22,403 | 395,208 |
| Executive Vice President and Chief Operating 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 | FY2026 total | FY2025 total | FY2024 total | Δ FY2025→2026 |
|---|---|---|---|---|
| B. Nicole Sherman | $527,653 | $1,481,716 | — | ↓ −954,063 |
| C. Evan Sowers | 457,095 | 540,651 | 419,500 | ↓ −83,556 |
| Daniel Cox | 395,208 | 458,684 | 403,949 | ↓ −63,476 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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$527,653 B. Nicole Sherman total, FY2026
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The free page is the headline. The teardown reads every company in the disclosed peer group on its own numbers.
Data as of September 25, 2026 · Source: 0001041368-26-000012 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
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Each company listed discloses RVSB 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 RVSB in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2026 total |
|---|---|---|
| Bess R. Wills | Independent Director | $44,400 |
| Bradley J. Carlson | Independent Director | $43,300 |
| Gerald L. Nies | Chair of the Board | $68,700 |
| Jon L. Girod | Independent Director | — |
| Kourosh N. Zamanizadeh | Independent Director | — |
| Larry A. Hoff | Independent Director | $45,500 |
| Patricia W. Eby | Independent Director | $48,800 |
| Stacey A. Graham | Independent Director | $49,700 |
| Valerie Moreno | Independent Director | $44,000 |
Every insider equity transaction reported on Form 4 after the 2026 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 |
|---|---|---|---|---|---|---|---|---|
| Nierenberg Investment Management Company, LLC | Greater-than-10% holder | 2026-07-22 | D | 5,000 | $5 | $26,250 | Common, indirect | Form 4 ↗ |
| Nierenberg Investment Management Company, LLC | Greater-than-10% holder | 2026-07-23 | D | 5,000 | 5 | 26,350 | Common, indirect | Form 4 ↗ |
| Nierenberg Investment Management Company, LLC | Greater-than-10% holder | 2026-07-24 | D | 5,000 | 5 | 26,450 | Common, indirect | Form 4 ↗ |
| Jon L. Girod | Director | 2026-07-31 | A | 2,000 | 5 | 10,478 | Common | Form 4 ↗ |
| Jon L. Girod | Director | 2026-08-03 | A | 1,000 | 5 | 5,408 | Common | Form 4 ↗ |
| Charmaine Lightheart | EVP/CRDEO | 2026-08-12 | A | 250 | 5 | 1,327 | Common | Form 4 ↗ |
| David Lam | EVP/CFO | 2026-08-17 | A | 1,000 | 5 | 5,170 | Common | Form 4 ↗ |
| Bradley J. Carlson | Director | 2026-08-18 | A | 1,000 | 5 | 5,070 | Common | Form 4 ↗ |
| Robert Benke | EVP/CCO | 2026-08-20 | A | 1,000 | 5 | 5,050 | Common | Form 4 ↗ |
| Kourosh N. Zamanizadeh | Director | 2026-09-14 | A | 1,800 | 5 | 9,648 | Common | Form 4 ↗ |
| Kourosh N. Zamanizadeh | Director | 2026-09-14 | A | 1,800 | 5 | 9,711 | Common | Form 4 ↗ |
| Bess R. Wills | Director | 2026-09-15 | A | 2,000 | 6 | 11,170 | Common | Form 4 ↗ |
| Stacey A. Graham | Director | 2026-09-16 | A | 1,750 | 6 | 9,975 | Common | Form 4 ↗ |
| B. Nicole Sherman | Director | 2026-09-17 | A | 1,765 | 6 | 10,043 | Common | Form 4 ↗ |
| Charmaine Lightheart | EVP/CRDEO | 2026-09-17 | A | 100 | 6 | 568 | Common | Form 4 ↗ |
| Breanne D. Antich | Chief Technology Officer/EVP | 2026-09-23 | D | 97 | 45 | 4,348 | Common | Form 4 ↗ |
| Breanne D. Antich | Chief Technology Officer/EVP | 2026-09-24 | D | 66 | 45 | 2,977 | 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 |
|---|---|---|---|---|---|---|---|
| Daniel Cox | PRSU | — | — | — | — | — | $33,501 |
| C. Evan Sowers | PRSU | — | — | — | — | — | 34,999 |
| B. Nicole Sherman | PRSU | — | — | — | — | — | 42,498 |
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.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| C. Evan Sowers | PSU | 17,858 | — | $98,219 |
| Daniel Cox | PSU | 17,059 | — | 93,825 |
| B. Nicole Sherman | PSU | 153,673 | — | 845,202 |
The purpose of our compensation policies and procedures is to attract, retain and motivate key executives of proven ability who are critical to our future success. We believe that our compensation policies and procedures are strongly aligned with the long-term interests of our shareholders. Our compensation programs are designed to balance short-term and long-term objectives, and to attract executive talent, retain a team of effective leaders and provide stability for Riverview. Our compensation program is guided by the philosophy that total executive compensation should vary based on achievement of corporate goals and objectives, and should closely align with Riverview s financial performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon McLagan |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-08-27 | 8,512,601 | 4,800,546 | 620,490 | 63.94% | Passed |
| 2025 | 2025-08-28 | 9,117,649 | 5,295,647 | 663,608 | 63.26% | Passed |
| 2024 | 2024-08-28 | 13,643,172 | 1,279,503 | 737,574 | 91.43% | Passed |
| 2024 | 2024-08-28 | 13,643,172 | 1,279,503 | 737,574 | 91.43% | Passed |
| 2023 | 2023-08-23 | 12,763,080 | 1,553,516 | 788,254 | 89.15% | Passed |
| 2022 | 2022-08-24 | 13,298,950 | 685,351 | 670,033 | 95.1% | 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 | 2026-08-27 | 63.94%a |
| 2025 | 2025-08-28 | 63.26%b |
| 2024 | 2024-08-28 | 91.43%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the proposal.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the proposal.”.
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) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Gerald L. NiesIndependent · Board Chair · Executive (Chair) · Technology · Senior Loan (Chair) | $68,700 | $0 | $0 | — | $0 | $68,700 |
| Stacey A. GrahamIndependent · Nominating and Governance (Chair) · Technology · Nominating andGovernance (Chair) | 49,700 | 0 | 0 | — | 0 | 49,700 |
| Patricia W. EbyIndependent · Audit (Chair) | 48,800 | 0 | 0 | — | 0 | 48,800 |
| Larry A. HoffIndependent · Executive · Audit · Compensation (Chair) · Compensation (Chair) | 45,500 | 0 | 0 | — | 0 | 45,500 |
| Bess R. WillsIndependent · Executive · Nominating and Governance · Compensation | 44,400 | 0 | 0 | — | 0 | 44,400 |
| Valerie MorenoIndependent · Compensation · Technology (Chair) | 44,000 | 0 | 0 | — | 0 | 44,000 |
| Bradley J. CarlsonIndependent · Audit · Nominating and Governance · Technology · Not standing for re-election | 43,300 | 0 | 0 | — | 0 | 43,300 |
| Jon L. GirodIndependent · Partial-year service · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| Kourosh N. ZamanizadehIndependent · Partial-year service · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| B. Nicole ShermanEmployee director · Executive · Technology | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $20,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $1,000 |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2026 |
|---|---|
| Cash retainers and fees | $344,400 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $344,400 |
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 | RIVERVIEW BANCORP INC | 2026 | B. Nicole Sherman | $430,461 | $42,498 | $0 | $0 | $527,653 |
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, B. Nicole Sherman | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Summary Compensation Table”. As printed: 527,653. Filing ↗machine: t41 · r6 · c14 · span 365682–365689 |
| 2 | Section 01, C. Evan Sowers | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Summary Compensation Table”. As printed: 457,095. Filing ↗machine: t41 · r12 · c14 · span 387930–387937 |
| 3 | Section 01, Daniel Cox | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Summary Compensation Table”. As printed: 395,208. Filing ↗machine: t41 · r9 · c14 · span 376660–376667 |
| 4 | Section 03, Daniel Cox PRSU | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “E XECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t41 · r9 · c8 · span 375256–375262 |
| 5 | Section 03, C. Evan Sowers PRSU | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “E XECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t41 · r12 · c8 · span 386413–386419 |
| 6 | Section 03, B. Nicole Sherman PRSU | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “E XECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t41 · r6 · c8 · span 364164–364170 |
| 7 | Section 07, pay ratio | 10-K | 2026-06-12 | 0001041368-26-000007 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 8 | Section 08, Gerald L. Nies | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 68,700. Filing ↗machine: t39 · r3 · c2 · span 316422–316592 |
| 9 | Section 08, Stacey A. Graham | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 49,700. Filing ↗machine: t39 · r7 · c2 · span 323219–323389 |
| 10 | Section 08, Patricia W. Eby | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 48,800. Filing ↗machine: t39 · r6 · c2 · span 321452–321622 |
| 11 | Section 08, Larry A. Hoff | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 45,500. Filing ↗machine: t39 · r9 · c2 · span 326616–326786 |
| 12 | Section 08, Bess R. Wills | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 44,400. Filing ↗machine: t39 · r4 · c2 · span 318053–318223 |
| 13 | Section 08, Valerie Moreno | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 44,000. Filing ↗machine: t39 · r8 · c2 · span 324852–325022 |
| 14 | Section 08, Bradley J. Carlson | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 43,300. Filing ↗machine: t39 · r5 · c2 · span 319819–319989 |
| 15 | Section 08, Jon L. Girod | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t39 · r10 · c6 · span 328374–328375 |
| 16 | Section 08, Kourosh N. Zamanizadeh | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t39 · r11 · c6 · span 330153–330154 |
| 17 | Section 08, B. Nicole Sherman | DEF 14A | 2026-07-17 | 0001041368-26-000012 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 02, Nierenberg Investment Management Company, LLC 2026-07-22 | Form 4 | 2026-07-24 | 0001013594-26-000773 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Nierenberg Investment Management Company, LLC 2026-07-23 | Form 4 | 2026-07-24 | 0001013594-26-000773 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Nierenberg Investment Management Company, LLC 2026-07-24 | Form 4 | 2026-07-24 | 0001013594-26-000773 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Jon L. Girod 2026-07-31 | Form 4 | 2026-08-03 | 0002128637-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Jon L. Girod 2026-08-03 | Form 4 | 2026-08-05 | 0002128637-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Charmaine Lightheart 2026-08-12 | Form 4 | 2026-08-13 | 0002050978-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, David Lam 2026-08-17 | Form 4 | 2026-08-18 | 0001713974-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Bradley J. Carlson 2026-08-18 | Form 4 | 2026-08-20 | 0001629292-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Robert Benke 2026-08-20 | Form 4 | 2026-08-24 | 0001991703-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Kourosh N. Zamanizadeh 2026-09-14 | Form 4 | 2026-09-15 | 0002128593-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Kourosh N. Zamanizadeh 2026-09-14 | Form 4 | 2026-09-15 | 0002128593-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Bess R. Wills 2026-09-15 | Form 4 | 2026-09-17 | 0001508267-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Stacey A. Graham 2026-09-16 | Form 4 | 2026-09-17 | 0001833500-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, B. Nicole Sherman 2026-09-17 | Form 4 | 2026-09-17 | 0001322325-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Charmaine Lightheart 2026-09-17 | Form 4 | 2026-09-17 | 0002050978-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Breanne D. Antich 2026-09-23 | Form 4 | 2026-09-25 | 0000939057-26-000239 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Breanne D. Antich 2026-09-24 | Form 4 | 2026-09-25 | 0000939057-26-000239 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 06, 2026 vote | Form 8-K | 2026-09-02 | 0000939057-26-000222 | Item 5.07 · say-on-pay result. As reported: 63.94% (votes for as printed: 8,512,601). Filing ↗ |
| 36 | Section 06, 2025 vote | Form 8-K | 2025-09-04 | 0000939057-25-000252 | Item 5.07 · say-on-pay result. As reported: 63.26% (votes for as printed: 9,117,649). Filing ↗ |
| 37 | Section 06, 2024 vote | Form 8-K | 2024-09-03 | 0000939057-24-000249 | Item 5.07 · say-on-pay result. As reported: 91.43%. Filing ↗ |
| 38 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 39 | Section 09b board cost (computed) | Computed | — | — | Cash 344,400 + equity 0 + all other 0 = 344,400, summed across the director compensation table rows.machine: formula: Σ = 344,400 |
| 40 | RIVERVIEW BANCORP INC (subject), Section 10b CEO total | DEF 14A | 2026-07-17 | 0001041368-26-000012 | CEO total compensation as printed in RIVERVIEW BANCORP INC's own proxy. As printed: 527,653. Filing ↗machine: t41 · r6 · c14 · span 365682–365689 |
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